SPX6900 Amsterdam Conference 2026

So, this is what it feels like. I like it. I heard you like numbers, so I have a few numbers to share with you. Uh, that's 100 117 tickets sold. Um I think that one I'm not sure because it changed quite a bit like over the past few weeks. Uh 23 different countries from four continents. So we have uh different cultures, different generations, different regulatory environments and yet the same signal brought you here to Amsterdam, the cradle of modern finance where the world's first stock exchange was established in6002. In fact, this beautiful building used to

house a stock exchange. So you did not get here by accident, right? And beyond everything else, I think you know exactly what you came here to build. Like being in the same room, looking at each other and meeting for the first time. For most of us, it feels like both outcome and threshold, right? Like the result of something and a beginning. So in the name of the the entire organizing team, I want to thank you sincerely for uh coming here. You're making a difference. You're making a difference just by being here. And by being here,

you're saying that presence is actually important. It actually matters. Like showing up in real life creates signal. It's um it's a form of quiet protest, right? Especially in the era of timelines and tokenized attention. It changes everything. And by being here, you're paying attention to that. You're paying attention to incentives. You're paying attention to you're not paying attention to what does not matters headlines price and all these things. And by being here, you're saying you're proactive. You're saying you'd rather position, you'd rather coordinate than complain or react. And I think by being here, you're also

saying that you're done outsourcing sovereignty. You're done assuming that someone else will manage monetary policy in your favor. And you're saying you understand currency debasement and inflation as forms of silent wealth transfer without your consent. So now you see the compounding, you see the asymmetry, you see how velocity now belongs to us. And just by being here, you're saying you understand the inevitability of a coordinated supply squeeze. You remember the original cipher punk promise of Bitcoin and we've all watched that promise migrate into balance sheets. custodians and hedge funds. And by being here, you're saying

there's a new alpha in the decentralized age. It's coordination. There's a need for meaning. When markets feel detached from reality, there's a need for belonging. When society is organized around algorithmic isolation, and just by being here, you're saying there's a collective response to that that spreads onchain, online, and in real life. And you are part of it. Am I right? All right. In that case, welcome to SPX6900 Amsterdam, the first European gathering of its kind. We brought together we brought together a combination of forces to celebrate SPX 6900 created series of presentation, an art exhibition,

a live panel discussion, the premiere of the first SPX6900 documentary. So different formats, different energies, but always the same signal, the same culture. So today will be like a progression. We'll go from human to agency, from agency to coordination, from coordination to scale, from scale to inevitability. So, let's start with the human, right? And with something that as far as we're all concerned, something of extreme importance, something inherently human responsibility because more and more we we operate behind interfaces. It's like we operate behind systems that diffuse our responsibility And our society is drifting towards distance,

toward detachment, toward automation. But there are places where none of that exists. Places where there's no one else to blame, no narrative to hide behind, where your decisions carry consequences, sometimes lifechanging consequences. The operating room is one of those places. And from that environment, we will begin today with our first presenter. Please welcome Dr. Jesse Shaw. the leg. Thank Thank you so much for having me. So the monologue really that he just gave really is a perfect leadin to why I decided to be part of SPX and what I feel and in an in an

age of AI duplication and replication what will be the most valuable commodity in the future right it's going to be humanto human interaction and something that's authentically scarce and that's what SPX is and that's what this is so in This in this talk my goal is to give you an explanation of what you all feel inside. Why are you here? What is XPX? Maybe you don't haven't really understood it completely and my goal is to explain a lot of it. So the name of this is proof of human. Uh it it's part Of a book

that I'm writing and I'm honored to be here and and give this to you and give you my thoughts of my world and how I live it. So here we go. Proof of human. Oh, there you go. So here we go. SPX6900, proof of human, the reserve asset in humanity in the age of machines. The awakening. What is the question that we all must ask? What does it mean to remain human? How do we navigate authenticity, creativity, and connection in the age of artificial intelligence? In an era of intelligent machines, what makes us irreplaceable? If

a machine could think, write, create, and reason, what is left that is uniquely irreducible and human? It's the battle. The battle of human relevance. Proof of human. Where is he? Is he here? There he is. Proof of human. The question isn't a threat. It's an actual invitation. It's an invitation to discover what humanity has always been. Beneath the noise of productivity, beneath the performance and progress. I give you SPX6900, the spiritual connection of humans. So the awakening, what's irreducibly human? What can AI not do? AI cannot feel genuine loss. AI can describe grief, but it's

never lost anyone. The algorithm possesses sentiment, but it doesn't wake up at 3 in the morning missing someone that you love or that you lost. AI cannot carry out a lived experience. There's no model. The model has has never failed. It's never recovered and it's never grown. Right? Training data is not living. It doesn't know the the agony of defeat and the thrill of victory. AI cannot be morally accountable. It can advise, but it cannot be responsible. When the decision can cost you everything, the machine doesn't feel anything. AI cannot love unconditionally. A language model

can generate I love you a million different ways, but it's never chosen to stay with somebody when it's when it's easier to leave. So, not today, not ever, and not in the ways that truly matter. What are the five pillars of human authenticity? What must we protect as humans and not give up? Presence, being fully here, embody, attention, and feeling. No algorithm can make you feel what you feel in this conference, right? vulnerability, the courage to get up here or to do something to be flawed, to be uncertain and still worthy. A optimi AI optimizes,

but humans risk. We risk it all, right? To do what we feel inside of us. Meaning and making. We don't just process events, we interpret them, we mourn Them, and we find purpose inside of them. Moral agency. Choosing what is right when it costs you something. Ethics without skin in the game is just logic. It has to mean something. It ha you have to take a risk and you have to step outside of your comfort zone. In order to evolve as a human being, you must go through the unknown in the fear. It's the only

way and genuine curiosity, desire, right? Wondering not because it's useful, because the world's astonishing and I really love being here with you. So on creativity, right? AI doesn't create, it recombines. AI generation trained by human-made work optimizes for plausibility. It's going to tell you what you think you want to hear. It has no stake in the outcome. It cannot surprise itself and it produces on demand, right? I can generate 10,000 variations, but none of them are really yours, right? It's empty. How about human creativity emerges from a personal experience? this moment right now. This is

something that you take with you forever. You risk failure. You risk rejection. You expose yourself. You're human. You're driven by obsession and wonder. You can break your own rules. Sometimes our greatest creations come when we break our rules. Well, we go outside of the line that we think is the right way to go. It creates because we must. I made this because I had no choice. I had to get this out because I want you to know who I am. Does that make sense? So this is the difference between output and art and this movement

encompasses all of it which is why I'm here and why I love this place. So what's the revelation? SPX6900 spiritual gold the first cryptocurrency secured by human connection rather than computational power. I'm not here to pitch you a coin, right? I'm here to baptize you into the only economy that guarantees you will always be face to face with human beings, right? This is the beginning of the cognosphere. So the critical insight, right? Think about this. What cannot be computed? This is where we where we evolve from Bitcoin, right? Bitcoin is digital gold, yes, but digital

gold can be managed by digital intelligence. In a world of AI treasuries and algorithmic trading, Bitcoin becomes just another asset class for machines to optimize. Just like he explained in the monologue, what cannot be optimized? What cannot be computed? What becomes more scarce as technology advances? The most important point of this is human belief. The reason why we are here, the reason why we've done things that no other token and coin has done, which I don't even call a coin really anymore. I call it a Movement. Right? in in the worst possible cycle of all

time if you've been in crypto of the last two or three years human belief right we're here in the worst possible time with the biggest show out because we believe so the only thing that AI cannot synthesize requires a human soul a hold now the origin of the story the rugpool that wasn't I'm going to give you a little bit of history I'm sure all of you know this but I'm going to go through it because it's important the burn. So the developer burnt 6.9 which is a very interesting number. It's a human number, right?

They didn't burn 6%, they didn't burn 7%. A human being decided to burn 6.9%. That's a big deal because 7% and 6% would be something that an AI bot would do. 6.9% is something that a human being did. So that was the burn and then the same day the disappearance deleted all socials the code went dark gone. But what happened that day and that night? The OGs, they got together in spaces and online at 3, four, five in the morning and they came together, right? And they decided community. Community is the most important and we

could survive without what with whatever what happens, right? So no founder, no team, no road map. It was just belief that kept it together. That that that critical day when when when it was thought to be a rugpool, but it really was a birth, Right? So, this is when XPX, that day is when XPX truly became human. I give you the first leaderless multi-chain cultural movement disguised as a memecoin. Now, here's the behavioral evidence of of what I mean and how important this is, and this is a real dynamic that most of you know, but

it really needs to be driven home. during an 86% drawdown. Okay, from over two billion to 290 or 270 million. Okay, during that time the holder growth not people but the wallet growth was 340% during an 86% draw down. Okay, that has not happened not in this cycle with any other community. Okay. Now what would AI trading bot or algorithms have done during the 86% draw down? It would have interpreted it as a failed project, a failed token and it would have left and moved on. But what did AON do? What did humans do, right?

We looked at it as a generational opportunity at buying. And what did we do? We bought. We bought and we continue to buy and we continue to open wallets. DCA everything. There you go. DCA every day. I guess it's a good time to give a shout out to Maddox even though he's not here, but he he's one of he's one of the leaders that showed us, right? It doesn't matter. We're not we're not playing a price game. We're playing a a human element game, right? So only humans and only aons could have predicted at that

data and that 86% draw down generational opportunity. See, it's not price action. It's behavioral evidence of humanity. That's what the cognosphere is. Now, the most important thing in belief, what comes from belief? Diamond hand phenomena. Okay, SPX has the highest diamond hand percentage of wallets that have never sold a token. Okay, it fluctuates between 70 and 75%. This is what Matt Beck so elegantly described as the supply squeeze chain. Okay. Yes, we started with a billion tokens. Okay. Remember 69 million of them were burnt, 6.9%. Some of them are locked up. Right now, if the

diamondhanded percentage stays at 70%, 600 million tokens are gone. The tradable float of the supply squeeze is really only 30% left of what we started with. There's only 30% left of what we started with if we keep our diamond hands. And for some reason, looking at this crowd, I'm pretty sure we're going to keep our diamond hands. Oops, sorry. So, the supply shock explains the parabolic price movements that will happen. Remember, all of this is happening in the worst possible time. Imagine what it will be like when it's a good time again, right? So scarcity

through cultural belief and aon lockin it's very very important. Now the three goals the evolution of scarcity across 5,000 years of human civilization physical gold digital gold and obviously now spx spiritual gold. So let's go through it. Physical gold, proof of time, uses historical power to maintain its value, long overtime, scarce by geology, thousands of years old, and you can touch it. It's hard to transport and it's hard to use, but you can touch it. It's lasted for 5,000 years. Digital gold, Bitcoin, proof of work. It uses computational power to create, supply, validate transactions. scarce

by mathematics 15 years old and you can verify it number go up because it's mathematically scarce and authentic like I started at the beginning of this talk in the future humanto human contact and things that are authentically scarce assets that are authentically scarce will be the most valuable thing in the world and of course we come to spiritual gold spx6900 proof of belief uses spiritual power to persist forever and flip the stock market scarce by collective will 2.7 years old might be a little bit older now when I was writing this Uh and you can

feel it right number go up why mathematically scarce by diamondhanded human belief in aons okay it's very important I give you spiritual gold spx6900 represents a paradigm shift from assets backed by physics or mathematics to one backed by belief community and a collective consciousness. The first economy running exclusively on spiritual gold where human attention is the proof of work. Again, just another pie chart. Really, what I want to show you with this is basically through the lockdown 69 million tokens, 6,99 tokens are burned. Okay, it's a very important number because it's a human number. It's

6.9. It's not seven, it's not six. And even though the number doesn't matter, the consciousness of it matters. The per that the fact that somebody made it 6.9 the lock up and again the behavioral hands, the diamond hands. We really only have approximately 279 million tokens left. Okay, if you DCA, you I don't even have to explain it. You know what will happen. That's why you see when things do go up if if you if you look at it SPX goes up by a magnitude higher than everything else when it does go up or go

down. So we have created artificial scarcity not through code but by collective aon will now the proof of human protocol the first mechanism that separates the Humans from machines. So obviously it in crypto it's always been player verse player, right? Crypto's always been zero sum. I'm going against you, I win, you lose. It's gambling. I'm going to extract everything from these newbies that I can do. I'm they're my liquid my my liquidity exit liquidity. I'm going to get them because I'm going to make as much money as I can and see you later. Right? That's

what it's always been. But SPX is player verse environment. a 100,000 years ago. How did humans make it? When there was weather and wolves and predators, right? We created language. We created fire. And we had a 100,000 years of cooperation, right? We forgot how we survived. But the environment is no longer the wolves and weather. The environment that's trying to get us is disconnection, algorithmic isolation, and AI generated loneliness. Okay. Aons and spx6900 were the fire. We create the language and we're definitely a tribe. The prediction 100 billion or bust. Miad predicted 100 billion market

cap. But I predict something more profound. When the historians write about the 21st century, they will not remember who had the best algorithm. But they will remember who kept the fire of human consciousness alive. Who was there when it was the worst of times? Who came together in Amsterdam in 2026 when everybody else was was freaking out and panicking from AI psychosis, right? We did because we're humans and because we Understand what we mean and we understand the explanation of what we feel. In the machine age crisis, what happens when 90% of online contact is

AI generated? Infinite content, zero meaning, algorithmic loops, engagement traps, and synthetic relationships, no real connection. Where is the sanctuary for human belief? Well, I give you probably the most important dynamic evolution and invention that came out of SPX. Believe it or not, it's the most important, the cognosphere. Okay? The ultimate human sanctuary in the age of AI. You know that when you're in the cognosphere, you're talking to another human. You know that you can rely on somebody. You know that the cognosphere is a place where we come together for human human interaction. And you might

not feel it yet, but when things really become AI and duplicated and you don't know if you're talking to a human or a bot anymore, and you don't know on the other side of that of that connection what's going on, you know, when you come into the cognosphere, you know you're going to be talking with humans and aons. And it's the most important thing that you could do. So AON's united, right? The community isn't just holding tokens. They're creating value through human creativity and authentic connection. And this is what I mean by the cognere every

week. If you need to hear somebody, you need to talk to somebody. How many of us are always online talking with other people? You have community videos, art, memes, weekly spaces, live voice, real humans, right? self-improvement, losing weight, stop drinking, be be healthy, right? Real connection. This very conference, unscripted dialogue within real life events, right? Very very important. Peaceful life over greed. That's the mantra. Understand that who's the richest? The one with the most money or the one with the most experiences, right? the most experiences is the wealthy person. In the laws of abundance, there's

nine pieces of the pie and money is only one. That's why there's a lot of rich [ __ ] Right? Right. To be wealthy, you need all nine. You need love. You need self-worth. You need health. You need family. And money is just one piece of the pie. You want to be wealthy. You don't want to be rich. Okay? Health, wealth, mind, right? Friends, right? Humans right. Okay? Peaceful life of greed. I'm strong for my aons creates an emotional support network not because it builds a genuine conviction right this is authentic human connection in the

digital world and when we look back at this talk in five or 10 years it will really stick out because there might not be too much human connection anymore the vision flipping the the the stock market the absurd goal surpass the S&P 500 not by market cap alone but by cultural significance, human conviction and mimemetic infinity. 6900, right? The infinite, the reason why it's so absurd, But so brilliant and so good is because it has no end point. It's infinite, right? The narrative runway XPX is the story without an end. If you don't have an

end, the only thing you could do is keep going. And that's why this is the chosen movement coin. I don't even say memecoin anymore because it's not a memecoin. Memecoin would be belittling it. We're a movement coin that's disguised as a memecoin. One day they'll give us our own category. The 500 finite traditional finance, the establishment that forgot about humans. SPX6900, not just the market. We flip everything. We become the tribe that outlasts everything. So, the new profound insight, the quantum glitch, the infinity glitch, SPX6900 exposes the fundamental vulnerability of traditional markets. They forgot about

the human element. Okay? Everything, even the biggest hedge funds and the biggest banks, they're all going to trading algorithms and AI bot trading algorithms. Okay? They're forgetting about you. You can't as a human trader, you cannot beat the robots at this point. It's impossible. Okay? What's the glitch? The spx glitch. When enough humans aons believe in something Simultaneously right now, reality rewrites itself and human belief can jump entirely to new paradigms. Okay? You're very lucky. However you got into this movement, it's real and it explains why you're here. This is this is not just a

coin anymore. This is a spiritual gathering and collection of human aons. And again, in the future, it will be the most valuable asset. So, this is how memes become movements, how jokes become truths, and how 69 becomes greater than 500, the chosen one. [ __ ] the 500. We're not trading a token. We're debugging the operating system of global finance. So, the goal was never to be more than human. The goal was just to be human. That's why I'm here as a surgeon, right? I could talk about things that I've never been able to talk

about my with my colleagues, my my medicine journeys, my IASA, my what I do. I could be honest, right? U when I'm when I'm in my workplace with a bunch of suits and ties that are most doctors are [ __ ] right? I'm very lucky. I My dad was an artist. that come from an art background, but I I don't relate to doctors and lawyers that I hang out with every day and work with because most of them they they can't get out of their own way. But in the cognosphere, I could be myself. I

can talk about experiences That might make me lose my license outside in the real world, but I can be authentic with you guys, right? So, so it's a safe place. That's when I knew that this was for me. When Gule came with me and we did ceremony together, right? I understood that I can just be who I am. I don't have to front. I don't have to be this surgeon that has to live up to some kind of suit and tie, right? I'll never do that. So, the goal was never to be human. It was

always to be fully human. So, plug into the cognosphere, people. We're not a meme coin. And we're a movement coined with a mission. We're not a cult. We're a countercult. The cult of humanity in the age of machines. We're long humanity. We're long creativity. We're long connection. And we're long the spark. Proof of human. Proof we were here. Thank you for having me. I really appreciate. Thank you. Jesse, what a what a way to start the day, man. Thank you, Eva, so much. Thank you for the content you share with us on a daily basis,

man. For everything. Thank you. Again, the experience of this earth, right, is about being here. I was saying earlier have watching a ballet in Russia, eating sushi in Japan, being with your friends and family. That's the wealth, right? So, don't please it. It's it's an honor to be here and I really appreciate you guys having me and we appreciate you, man. Thanks. Let's zoom out a bit. Aons um the system we all navigate in the system that trains us shapes our behavior. Um it shapes how we react. It shapes how we feel, how we relate

to risk, how we relate to money, how we relate to each other. And with time it leaves marks. It creates reflexes. Schools, companies, politics, social media all teach us something. Authority, hierarchy, representation, the follower dynamics. So this raises a number of question because even in a space like our space that's supposed to be different where we supposed to be able to get rid of all that to unlearn that it's still difficult. It's not that easy and it raises questions like how do we rebuild agency and mostly how do we build trust and that's the lenses

in which we're getting into in uh with our next presentation By Dr. Polytric. Welcome brother Thank you. Uh so yeah I'm poly metric and uh my uh uh talk is uh called SPX6900 as a decentralized trust network. So uh I'm a psychotherapist and researcher and I'd say my mission in life is to increase human flourishing by helping people to become more agentic. And what I mean by that word agentic or agency is the capacity to live purposefully in pursuit of deeply meaningful goals and in a manner that aligns with core values. So, as a therapist,

I aim to increase individual agency by helping people to overcome their fears and the defensive strategies that keep them stuck. And I'm interested in SPX6900 because I think it addresses a larger issue of collective agency. And by collective agency, I'm referring to the capacity of entire populations to come together in voluntary coordination and cooperation to change the world in a way that aligns with their values. I'm not just talking about protest or voting for politicians and just hoping for the best. I'm talking about how humans can voluntary voluntarily coordinate to tackle world problems without the

need to rely on a top- down authority for enforcement. And today I'll be talking about the inherent difficulty of collective agency when it comes to finance and why I think SPX6900 is demonstrating a potential solution to this problem. So before I talk about that, let me talk a little bit about why I think this is an important problem to solve. So I think it goes without saying that the modern financial system is no longer working for younger generations. Government debt is rising exponentially. Wealth inequality is increasing. Housing is increasingly unaffordable for regular people. And there's

this overwhelming sense that the system is broken, that there's uh people are losing hope and there's no real clear path forward out of this. And yet there is a straightforward solution at least in principle collective financial coordination. So the modern financial system maintains its power through the continued participation of the population, the exact same people who are feeling disadvantaged by it. And if younger generations were to collectively decide To uh come together and redirect their capital and participation away from traditional markets and into an alternative asset, the value would drain from assets held by institutions

and billionaires and would be instead diverted into an alternative asset held by ordinary people. And if that would were to occur, it would represent an immense transfer of wealth from the ultra rich and corporations over to ordinary people without the need for top-down authority, a socialist government, or a bloody revolution. And keep in mind that this is not just speculation. I'm simply stating a logical implication about how financial markets work. Value is determined by how people collectively decide to allocate their money. Okay, so there's a a simple plan and it's straightforward to execute in principle

and guaranteed to work as long as everyone just coordinates together. So you might ask, uh, if it's so simple, why can't we all just agree to do it? And part of the answer is this plan only works if enough people participate. And we have no basis for knowing if other people would participate because we can't see inside each other's heads. So a plan like this is dead on arrival. We'd have to find some way to all get on the same page about what we're going to do. And then we would also have to trust each

other that we're all going to follow the same plan. And that just seems impossible. Uh we simply have no basis for that kind of trust. And the reason that this concept of financial coordination appears so completely absurd is because we assume it's impossible for humans to trust each other, at least when it comes to finance. So, we take for granted that people are always going to act selfishly and in their own self-interest. And if that's the case, it's irrational to try to cooperate with each other if we're all just trying to get ahead of each

other. And the history of finance has been built around this assumption that humans cannot trust each other. So, the best we can do is try to constrain dishonesty. So for instance, institutions like banks acted as uh trusted third parties that make cheating more difficult. And uh more recently, Bitcoin has attempted to remove the need for trust entirely by relying instead on a decentralized blockchain. And the goal of Bitcoin is essentially to create a trustless a trustless system. And all of this is to say that we've gotten really good at constraining bad behavior and removing the

need for trust. But we've not solved the problem of how we can actually work together and trust each other to actually work together without relying on a system to constrain bad behavior. And to be clear, this is not a knock on Bitcoin or anything. Uh, Bitcoin was a revolutionary solution to a real problem. It allows strangers to transact without relying on third parties like banks. And that's really important. But collective agency requires something completely different. Collective agency requires people to willingly coordinate towards a shared goal and act in good faith over long periods of time.

And this inherently means that it requires shared vulnerability. And that is not an engineering problem that can be solved. It's a relationship problem. It's a people problem. It's a psychology problem. And that's only solved by developing some kind of trust between people. So the question I want to ask in this talk is is genuine trust in finance even possible and if so how? Now to answer that I need to explain a little bit about how genuine trust actually works because a lot of people have no idea. Most people think that trust comes from behavioral consistency.

So someone says they're going to do something and then they do it and then they do it over and over and over again and then eventually you start to trust them. But that actually has very little to do with genuine trust. So a person can behave consistently for all sorts of reasons that have nothing to do with whether you can trust them. uh they for instance they may behave honestly because honesty is a core value of theirs and it would be a betrayal of themselves to lie or they may be behaving honestly because uh they're

afraid of judgment or they may be behaving honestly because they're just trying to build up confidence so that they could scam you. And in every single case, the behavior looks identical from the outside, but the reasons behind it are completely different. And the problem is that if you don't understand the underlying reasons for the behavior, as soon as the situation or incentive structure changes, the behavior is going to change in a completely unpredictable way. So in contrast, genuine trust comes from being able to infer why someone does what they do. When you know a person's

actual values and beliefs, what truly drives them, You can make predictions about their behavior across various situations with different incentive structures and even when no one is watching. So when you really trust someone, you know how they think, react, uh who they judge, what makes them feel guilty, what makes them feel uh justified in lying, what makes them feel self-conscious. And these are things you could only really know when you develop a real relationship over time and really get to truly understand a person. And that's simply not information you could ever gain from simple repetitive

behaviors. Surface behavior tells you what has happened in the past. But knowing someone's values tell you what is more likely to happen in the future. So why is this hard in finance? Well, one problem in finance is that the only data we have about others is investment behavior. But investment behavior is universally explained by self-interest. So regardless of a person's personal values, uh their uh religions or beliefs, people tend to make investment decisions for one reason, and that's because they expect the value of what they're investing in to increase. So investment behavior alone carries very

little information about a person's Values. If I look at someone's retirement portfolio, I don't know what kind of person that is. So values are effectively invisible in a financial context and therefore the necessary signal for the development of real trust is just completely absent in finance. And this is what brings me to SPX 6900. I see SPX6900 as an experiment in collective financial coordination that introduces a different category of data which allows us to make inferences about the values of the people who hold the asset and this gives us the necessary signal that enables the

development of collective trust between asset holders. So let me explain. SPX6900 is a token, a crypto token with zero utility and zero intrinsic value. Its only value comes from the fact that it's associated with a specific mission, culture and a set of values. And that mission is essentially something like collective financial coordination. The idea is we all uh decide to collectively coordinate our capital and in so in doing that we can support an asset that better aligns with our values and that serves us rather than an asset that supports the current financial system or other

corporations Or or um uh or the rich. And the lack of intrinsic value is a really important point because SBX has no intrinsic value. The only rational reason to make a long-term investment in this is because you actually believe that other people believe in the mission and are going to continue to buy and hold. So if everyone decides to sell, there is no intrinsic value to fall back on, it's worthless. So a long-term investment in SPX6900, regardless of size, is fundamentally an act of trust. It's an act of trusting the intentions of a bunch of

strangers on the internet. Okay, so yes, that sounds totally insane and delusional, right? What is the plausible basis for genuine informed trust rather than blind faith? How can we possibly infer the values of a bunch of strangers on the internet? And this is what I think sets sp apart from any other movement. People in this movement make real costly sacrifices to promote the mission. They start podcasts. They're writing essays. They're publishing books. They're organizing entire conferences and they're flying across the world just to go attend and speak at them. This behavior is very costly to

fake especially when you consider the time Commitment of uh uh the time commitment that uh people are putting in without any financial compensation. And in addition, many of the community members are attaching their names and faces to this movement. These are doctors, surgeons, professionals with established reputations who have nothing to gain and something real to lose by associating themselves with what most of the world still dismisses as either just crazy or another crypto scam. But this is the exact behavior that constitutes a plausible basis for believing that at least many of the token holders are

genuinely here for the mission. that they are here because they genuinely believe in cooperation, because they want to build a community and they genuinely believe in this mission of collective financial coordination. And this kind of signal gives new participants a rational basis for believing that token holders are not going to sell even though the asset has no intrinsic value to fall back on. And just as with trust, evidence starts slow and grows stronger with time. The longevity of this movement inherently builds trust with people. So a movement that has endured for 5 years is going

to be inherently more trustworthy than one That's existed for a few months or just for two years. You can fake enthusiasm for a few months, especially during a bull run, but it's very difficult to fake showing up every day for many years, even in bare markets when there is no one's making any money. So every year a fin uh every year a movement like this continues to survive and grow represents further evidence that financial coordination between strangers is not just a theoretical possibility that it's actually happening right in front of you. And as the movement

grows in terms of both size and longevity, the rational basis for joining increases. So if you have reason to believe that there is a growing group of people who are genuinely committed to accumulating an asset without ever selling, that belief carries a very straightforward financial implication. If you have sustained demand with restricted supply, it means the price is going to rise. And this implication makes it increasingly rational for newcomers to participate. This is essentially what Bitcoin did. It took 15 years, but at some point it even became rational for large institutions and corporations to start

supporting it. And uh at this point, many will say that it's riskier to not hold any Bitcoin than it is um to hold hold it. And because SPX is a crypto token, there's an additional category of evidence that makes it uniquely suited to this kind of collective trust formation. So we have onchain data. Onchain data makes the financial behavior of holders publicly observable. And this allows behavioral data that's not available with other assets like gold or equities. It allows us to answer the question, is the financial behavior of the participants actually consistent with their publicly

stated conviction? With gold or equities, stated commitment is unverifiable. But here we actually have a means for observing whether people are actually acting in line with their publicly stated beliefs. So taking a step back, what I've described here is in effect what I think can be described as a decentralized trust network. is not a system that constrains dishonesty or enforces good behavior, but one in which genuine trust can begin to emerge by inferring the values of the participants who hold the asset. And I think it's useful to contrast this with Bitcoin. You could think of

Bitcoin as building a decentralized truth network. It verifies transactions without the need for trusted third parties and aims to eliminate the need for trust entirely. As Bitcoiners are known to say, don't trust, verify. SPX6900 is an experiment in something completely different. It's a decentralized trust network in which the behavior of the participants makes it possible to infer their values and then genuine trust between strangers becomes possible as a result and this thus enabling voluntary and consensual collective coordination without the need for top- down authority or control. So in summary, what I've described today is a

potential solution to a problem that most people assume is unsolvable. That humans cannot financially coordinate in a way that is voluntary and consensual without a system that constrains or controls them. And it's not proof that it works at scale, but as long as this movement continues to persist and grow, the evidence that this is can uh work only gets stronger. And at the very least, I think that this makes it worth paying attention to for anyone who takes seriously the issue of collective agency. And the last thing I want to say here is that a

lot of people expected SPX to go parabolic in 2025, but I think this really misses the point. Genuine trust develops gradually. It has to. That's the only way that it's real genuine trust and not blind faith. There are no shortcuts to trust and there shouldn't be. But trust is one of the most valuable things on earth. There's very little in this world worth more than genuine trust between people. And that is what I think we're building here. Thank you. Thank you. I don't ask questions. Oh, sure. Quick question. Hi guys. What you've just described is

a proper game theory practice which was made in Harvard and the Nobel Prize. This is my main concern and you've actually opened it. Yeah. Thank you. Hi guys. So that was one of my main concerns because I'm betting my 100% life savings uh on an asset. Yeah. I'm talking about full on, okay? I'm talking about selling houses, [ __ ] going all all in. And I'm not I'm delusional, but I've been in crypto for 10 years. I'm not like here since yesterday. And this is the main thing, game theory. That's why I came here. That's

why I flew 15 hours and I got here just for a few days. My question is, sorry, how do we know the experiment is successful? When do we know that? or it's a never- ending process. Well, I think it already is successful. Um, in your opinion, sorry. Yeah. Well, I can see it's getting there, but how do you I think it's a never- ending process. Um, but it's also somewhat successful already. It depends on what you define as success because you're saying it's an experiment. And I I truly see it is. I believe 100% it

will work out and it's working out already. But from your point of view, how do you know the experiment? Because we're building something new here, something the world has never seen before. Mhm. Right. Right. This is the first tokenized community ever. So, how do we know it's successful? So that other people can start following and see, you know, it's working 100%. You mean how do we prove that it's successful? I guess. Yeah. H well again I it also it depends on I would say uh persisting forever like a as with time that's really the test

for for trust if people continue to persist I mean people are still very skeptical about Bitcoin can we say that Bitcoin's successful yet like I I would say Right. Bitcoin is right. 7% of the world still thinks Bitcoin is so it's a critical mass is getting the critical mass that believes it and then the rest will just follow and you don't have to prove anyone. they'll just see you will never get to you never get to to know 100% is successful like you will never get there it's it's something like always changing as as Jesse

said like there is like 10 million addresses with more than a thousand bucks in Bitcoin today right so it's like 99.999% of the population don't even know that right and um I think it's down to us to build something when you want to invest in a What do you do as an investor? You invest in the people, right? You look at the people and still 99% of the time it Goes to zero. Yeah. Right. But you I think what we're doing here just scaling this up to invest in the best people, right? And putting together

the best people we have to stack the chances in building something better. Yeah. That's the way I see. Sure. I mean, I'm not skeptical. I'm just speaking for the people who might be spectacle. You know what I mean? Yeah. So, like I guess I would say um that's not how trust works. Um when uh can you prove that like you can trust your wife? Is that possible? Is that a reason to never get married? Right? I And for some people it is right like relationships and this is all an act of trust. And of course,

we don't do that blindly, but eventually the evidence makes it seem like, okay, you know what? It's worth it. This is a risk. I am making myself very vulnerable here, but I've looked at this. I've been curious enough. I'm trying not to be biased, right? Blind faith going in, closing your eyes, and hoping for the best is kind of what I I call a lot of people's version of trust, which like that's not trust to me. That's literally just closing your eyes and and and hoping for the best. Genuine trust comes from like really understanding

someone, but you never like when do you fully understand another person? Never. Because that's Just not how relationships and humanity works. Um, and it shouldn't because we're human. Proof of human. Hello. It is funny you should mention a wife. This works. You can hear me. I was not planning to be a speaker. I'm Slovenian. But I can tell you something that proves yours and also Jess's about the trust. For me, it's a difficult time right now. My wife is trying to destroy my life. She's suing me for stuff that I have never did. She has

no evidence, but I have not seen my baby in 8 months. And if she's successful, I go to jail for many years. The trust is in me being able to share this with you because even though it's a difficult time the SPX community when I go on to X and I see the movement you know the mission it's about this it gives me hope and Jesse had on his presentation um he had being emotionally support emotional support you have the trust so I just you know Long story short, thank you. Thank you all. Thank you.

And there she is. I have met one wonderful Aon. Uh she's like my guardian angel. Petra Scott is strong as a bull. Uh she has become a real friend and uh thank you very much. Yes. So enjoy everybody. Thank you for your time. Thank you. Can I say something? I'm sorry. No, no. Um Oh, yeah. So, like he said, there's no way to know just like happiness, right? You you know how you know that this is successful? if you're happy because no amount of money or anything happiness comes from within right there's nothing that I

can give you financially or anything that will make you happy it has to come from inside so when you know that you're happy because of what you do in this cognosphere that's how you know if it's successful right he just got up and told us something that he can probably only do here and he knows he won't be judged and he won't be criticized and he can be himself. So that should make you happy and that for him it's already successful because he understands what why he got up here. So again I would tell you

it's like how do you know your wife right when you are happy because you're part of this that's when it's successful. Jesse, one last thing. Okay, one last thing and we we're done here uh with my question. I'll be quick. Jesse, I will become happy when I stop looking at a graph. Stop doing it. All right. No, no, no. One second. But for me to stop looking at the graph, I need to be sure that people I'm in the same boat with will not [ __ ] it up because I'm not going to. So, it's

a game theory, you know, a prisoner's dilemma. Uh, I mean, I'm I'm totally You're eternal. That's not my I know, I know, I know, I know. Once again, I'm not skeptical. I'm speaking to thousand people behind me who want to join and they have this question. I'm speaking for them. They're asking Vladimir, how do I know they will not [ __ ] it up along the way? Because we want to hold for five, 10 years. Do you see where I'm coming from? Yeah. Yeah. There's no way for you to make that. I'm not I mean,

I'm not going to. He's just there's no way for anybody except spend time in the coffee. There you go. There you go. That's why I'm here. That's why I'm here. You You can only give signals of trust, but that doesn't mean that anyone's going to Trust you, right? That's And you can only work on like what do you trust? Trust yourself and find what you trust. And then if you're thinking about convincing everybody else or something like that, I think that's a long wrong place to look. I think figuring out, do I believe in what

I'm doing? Do do I trust this? And that's all you can do in in life really. Thank you. It's just I thought that you never get a certificate. You you're not going to get um that's what how I see it at least. I can't speak for everyone, but you don't get a certificate. You don't get a moment where you say, "Okay, it's successful." You're never going to get it. It's it's about you and and you can't prove to other people. You have a thousand people behind you saying, "How can I get into this?" You're not

going to convince them. They have to do that themselves. It's not a uh you don't get one moment where you're like, "Oh, okay. I know it like I've made it. This is is not going to fall down." It always can fall down 100 years from now. Even it can fall down. Microsoft could fall down now if something happened. It's not a a thing. You're not going to get one moment where you know it's just about yourself. It's there's no confirmation. That's how it works. That's why it's a trust machine. You never stop trusting. And if

someone fails, then you keep showing up. That's that's it. Persist forever. It persists forever. Okay. So, I just want to say one more thing. Um Oh, well, I lost my my thing. Um Oh, well, like trust the the uh a mistake we can make is is to make arguments, is to uh say why I'm right versus uh someone else. And that's not really how trust or confidence works, right? If you have to make arguments for why you're right or why you're um confident, it just actually shows a lack of confidence. And you the way to

uh uh to have other people trust is you just need to trust yourself. You need to be uh confident uh in yourself because it's something that you model. You don't give someone a book and say, "Here's how to trust someone." You show them how to trust someone by doing it yourself. And then other people are like, "Oh, that person was pretty successful and happy. I kind of want to do that, too." And then they will try to model that. I think that's the only way it works. Well, I have two mics now. I love that

exchange. I think my two cents I think some of the answers to your questions are in this very room. Some people traveled. They came from a long way up to 56 hours all the way from Australia. Yeah. So, we can't measure that. But if there was a way to measure skin in the game, there's a leap of faith to be taken, right? They're pretty good signs, I would say. Yeah, I agree with that. Now, you have to make a choice that might Okay. Yeah, that's a good take. Let's zoom out a bit because the environment

we're in right now is changing real fast. AI is spreading faster than any technology we've seen before. It's reshaping the entire entire industries. The economy is shifting. The question is what do we do with that? And um when thinking about first movers, because that's what we are, right? First movers. Something interesting happened recently. Not that recently. It's it's been about a year, I would say. S&P6900 entered A corporate treasury as a real allocation by the way which changes perception and somehow contributes to answering the questions that you've been asking. We owe that to our next

presenter. Please welcome Aon Reborn. Awesome guys. I'm very excited and uh I'm here to talk about post AI economics and why I think SPX is the way out. So what's happening with AI? We had CHT for about a thousand days and now we see the market moving billions of dollars on the back of Antropic releasing a new feature. We have now millions of AI models on a phase. AI is the fastest adopted technology ever when you compare with the electricity, the automobile, the computer, the internet, social media to the point where 1.3 billion people already

using it, which is 16% of the global population. Uh being on board in less than four years, the capabilities are expanding very fast. Models are improving across every cognitive benchmark you can imagine. We keep hearing more and more stories of crazy things that people do with AI, whether it's curing the dog cancer or building some very complex software applications. AI is also better and better at doing scientific research. It's estimated that this year all the scientific breakthroughs will be AI assisted and From next year most of them will be completely AIdriven. But when it comes

to creativity, the human still has an edge. Like if you train an AI on music before the 1900, it won't come up with jazz. it won't come up with hip-hop which means that when it comes to raw original creativity the human still has an advantage. Now when it comes to the complexity right the AI can handle it doubles every uh seven months meaning like uh complexity defined as how long it would take a human to do that thing but when it comes to coding like for those of you that that do programming it doubles every

70 days and you know you can ask why is that why why everyone is investing so much in AI for coding and it's because because everyone it's optimizing to get to this point called recursive self-improvement which is some people call our takeoff fast takeoff is basically when Open AI goes from having 5,000 engineers doing uh AI research to having 5 million agents doing AI research. At that point, you're going to get this uh you know intelligence explosion and uh that's how you get to AGI and um super intelligence. So basically that's what everyone is optimizing

for. Um now for years we've been talking about having a human in the loop, right? Like for safety, security, whatever the reason. But over the next thousand days, people will be talking about how can we remove the human from the loop because we have AI on FPGAs running at 15,000 token a second. So now the conversation will be how can we get rid of the human and uh all this is going very fast and it's already manifesting on society. So AI anxiety, AI psychosis are a thing. Now it's important to understand that the mission of

the AI labs is not to give you a Better chatbot, right? The mission is essentially to absorb all economically valuable work. And it doesn't matter whether you know doing that you you destroy the demand, you destroy millions of jobs. It doesn't matter because ultimately AI is the ultimate prisoner dilemma. It's a giant prisoner dilemma. So if you don't do it, the competitor will do it. If you don't do it, the geopolitical adversary will do it. And so this is not something that is decelerating, right? You can see it in the private investments. It's just kind

of taking off. Um and um you see it also also in this kind of great power conflict between especially the US and China because again like everybody understands that whoever is going to get to AGI first will enjoy massive economic, scientific and and military advantages which will be potentially longlasting. So what does all mean for the economy right and like the truth is that nobody really knows like people this was taken from the financial times last year essentially you know there's a doom a bloom and a nothing happens scenario but what we know for sure

is that technology is deflationary in nature means that you know between the time a technology is introduced to the time it's um it's mature you get this minus 90 - 95 - 99% in in the unit cost right and we saw this um in many technology in the past in the computer memories, the solar energy, the DNA sequencing, essentially any technology and we're seeing this already in a yeah like if you look at the cost per unit of intelligence, it's already going 90 going down 90% every year. Um and so you could say it's all

great, you know, we had this technologies like the cost is going down, but how comes the cost of living In just over the past, you know, 20 30 years just shot up, right? It's it's going like crazy. Why is that? of course is because we live in a fiat system, right? So between new money creation, new credit creation, uh you get this inflationary pressure that um especially manifests on on on the less scalable industry so to speak. And so you end up having higher cost of food, higher cost of housing, higher cost of medical services

and so on and so on. And it's important to understand that technology and inflation, they're both headwinds to labor essentially, right? And so why? because technology makes labor less necessary and inflation it raises inequality. it it kind of affects the purchasing power. And so basically you have this gap between um capital and labor which has been kind of widening over the past 50 years um non-stop right and to the point where people describe this as you know some people talk about capital deepening or capital intensification which is essentially going from a place where initially both

capital and labor they kind of equally matter to to a place where where where are today where capital matters a lot more than labor and people are saying that post AI um capital may be the only thing that actually matters right and um so in my mind there's no doubt that AI will create new wealth new productivity gains new um discoveries right so new wealth will be created that's not a question the question is how this new wealth will be distributed right so a few insights about AI so first of all AI is a concentrating

force it concentrates capital investments into fewer and fewer firms it concentrates um the outcomes right if you look at the companies who Are successful post AI they've been doing So with fewer and fewer people right so also the outcomes the results are concentrated to to fewer and fewer people and also robotics by the way is also concentrating because like over there you need economies of scale you also need the vertical integration to drive down the cost and so basically that's concentrating too also AI we know is going to displace u many jobs right and this

is true for most jobs soal like cognitive jobs of the white collar type uh is is also something that you can already see in the youth unemployment right like this you know bifurcation between the senior uh employees and and and junior that's what you know um that's a hint and it's also something geographical right like you can imagine um it outsourcing sector in India or the customer service sector in the Philippines and people are saying oh but you know no problem we're just going to redistribute we're going to tax AI we're just going to redistribute

but do you really think that AI labs will redistribute to the Philippines because the service sector got decimated just not going to happen right it's not realistic also AI is not just something about the future but it's also something that is already affecting the business conversation today uh people are talking about zero terminal value what does it mean essentially like AI it's making most business model most business mode obsolete it's challenging them and so people are asking like the durability question is this business going to be there in two years are the captions going to

be there and I think we're going to see this in the multiples we're going to see in the cost of capital but I think the the insight here is that not every mode is created equal things like Things like uh network community liquidity they will be very strong even post AAI why because AI cannot inflate them it cannot fake them it cannot dilute them um which is similar also to proprietary data will be a strong mode but in a different way I think for the economy the crux of it is that basically you know in

the past you need capital needed labor um to produce more capital right but now capital can just buy more GPUs and when you understand that you realize why uh most economics 101 is just inadequate to explain the post AAI era right and that's why uh we get this new doctrine the new field of study whatever it is which is called a post AAI economics post labor economics which I want to give you a glimpse of u today right the conversation now first of all like there's no shortage of a futurist talking about the age of

abundance, the postcarcity moment. And when you think about technology, right, you have to be bullish technology. Like it's crazy like we went throughout history, we went from um transforming material to transforming energy to information. And throughout history, we created a lot of progress, a lot of development, a lot of wealth. And uh personally, I'm also very bullish. AI like I think AI will be a massive unlock. It will get us to new discoveries, new uh developments, right? So I think the challenge is not AI per se but is actually um transitioning to an economic model

where the human labor may be less and less valuable potentially not even viable you know completely but for sure it's going to be very different what it is today right And by the way this is not even something new like there is there's been a secular and structural decline of the value of labor for the past 50 years you can see it in many in many uh statistic or in many charts and essentially what people are saying is that AI is just, you know, going to accelerate this. It's just going to exacerbate this. And if

you see like at most post AI scenarios in terms of wages, they're kind of all, you know, whether it's five years or 20 years, they kind of all point to zero, right? To a point where the traditional transmission mechanism from you doing some work and getting paid, which is typically either a paid occupation or wage, that may break, right? And if that breaks, of course, household income breaks. And also income is the lynch pin of the consumption is the lynch pin of the aggregate demand and of course of the tax base right and so economists

today are thinking what can we do about it they're discussing you know potential redistribution systems whether it's UBI whether it's universal basic equity or capital whether it's creating some public funds that can invest essentially redistributed dividends to uh to citizens and um you know there's also discussion in terms of how do we fund this stuff uh for most nations I think like that they're able to do so the first and foremost will be the avenue will be money printing or taxing the automation uh monetization of natural resources and again like people are talking about oh

maybe we can establish um public funds sovereign wealth funds that can then redistribute to uh to citizens and oftentimes when that you know comes about people site Norway or Alaska as examples um for example in Alaska there is this fund um which um again invest on behalf of the people and redistribute between a $2,000 a year to citizens. Um and so yeah so that and so people say oh that's a working example maybe uh whatever that that could be a prototype. Another thing that people are typically asking is when something like this could be implemented,

could be enacted. And um if you look historically speaking, the US government tends to move policy-wise when uh whenever you know, unemployment breaks above 10%. Right? And so of course we're not there yet, but you know there are people saying that considering that the in the US the youth unemployment is already about 8% and it's breaking about 21% in China. uh people are saying we may not even be too far from that point right but regardless of all this regardless of the detail whether it's UBI something else the timeline doesn't matter I think all this

UBI alone will just break the human spirit why because UBI essentially kills economic agency what is economic agency it's essentially um a measure of one's ability to affect to influence your econ their economic future right and it's a bunch of It's typically property rights, job rights, right to invest, right to democratic rights, right to participate into a market. And uh of course, you know, if that breaks, if there is no agency, we know it there is no meaning and there is no meaning, the human ceases to exist, right? I think fundamentally what post AI economics

failed to to do it basically failing to Address the elephant in the room, which in my mind is the potential freeze, the potential end to social mobility. and the door to social mobility has been small getting smaller and smaller and it could get completely shut post AI right so that's to me is the key now we can take a step back I think is worth and thinking what is technology fundamentally doing right and if you think about it technology is fundamentally the business of taking something and making it faster better cheaper safer whatever and of

course if you take something and now it's better faster cheaper and safer Most of the time it doesn't make sense to have a human to do that thing anymore. And this happened many times in the past, right? We got many jobs that got displaced, replaced, whatever. Which begs the question in my mind, what are the things that fundamentally a human has to offer to the marketplace? And when you think along along those lines, you realize that basically any job, any occupation, whether you're a basketball player, construction worker, a venture capitalist, a software engineer, doesn't matter.

whatever job, it's a combination of four fundamental human ingredients, right? Um, physical strength, dexterity, cognition, and empathy, which is also includes things like authenticity and intuition and things of that nature. And when you think about like those components, those ingredients versus uh what a machine can do, you realize that of course trend was out competed long ago. The caster is about to get out competed with precision robotics. Cognition may be decimated with AI. So essentially you're left with empathy and things like empathy, authenticity, meaning, trust, those will be the ground where the human can win

against the machine for a long long time. And by the way, most of experts they they agree with this like people like Joshua Benjo, I mean the guy is literally a godfather of AI. He has more than one million citations on Google Scholar. and people like like him and people of this caliber they're all saying that post AI humans will need to refocus on uh connection relationship uh meaning and building communities and so on and so on. So to recap the main insights, we said that network will remain a very strong moat post AI. We

said that humans will will win on the on on the ground of empathy and community. And we also said that world redistribution will be a massive need which in my mind altogether means that you want to build and invest in things that have strong network effects. They're community based and they're redistributive in nature because they are positioned to do extremely well post AI. Which brings me to my last point which is why crypto is a solution that nobody's talking about. First and foremost, crypto is inherently a network phenomena. If you take all the big crypto

assets whether are bitcoin, ethereum, sana, doge and the new crops of tokenized communities such as spx their first and foremost networks um their market cap coincides with their network value pretty much one to one. Second, all the major asset in crypto history, they always been communities, right? They always been community initiatives. And what we're seeing today In this room with SPX and with onchain movements is just a natural continuation of this. Last but not least, crypto is literally a redistribution machine. If you take Bitcoin, it went from being a joke to now absorbing and redistributing

liquidity from every corner of traditional finance. It was an idea. It got initial attention. It got liquidity. And now Trustfy is chasing it. Whether it's for a diversification, for momentum, whatever the reason is giving way to redistribution which in my mind is reorienting capital from where it's concentrated to new emerging lindy vehicles which are accessible to everyone and what's happening with um with SPX today is something similar in my opinion but most importantly out of all the big ideas of today crypto is the only one that goes decentralizing and redistributing. If you take all the

big ideas whether it's AI, quantum, robotics, fusion, biology, they all go centralizing and concentrating. Whereas crypto when it's successful, it decentralizes, it redistributes and it increases individual sovereignty which makes winning existential here for crypto in my opinion. Now smart funds and smart investor are already realizing that something is changing post AI and they're like starting to allocate and put on what they call anti-ab bets whether it's VC buying some of the San Francisco giants whether it's investing in real life events I think what we have here today is just a tokenized version and AI people

don't know crypto and crypto people they dismiss communities because they don't see technology in them so to them they're pointless meaningless and valueless which is quite the opposite I think they're going to be A lot to millions of people and this is very bullish why because it creates a social arbitrage what is a social arbitrage by by the word of Chris Camilo it's surfacing change whether it's social political behavioral and connecting the dots back to an investable opportunity today and of course the bigger and the faster the change the bigger the opportunity I don't just

don't think there's going to be a bigger and faster change than the complete reorganization of the global economy over the next three to five years for more insights you Follow me on X at theory Born. And remember guys, it's time to flip the stock market. Join us. I love you. Thank you. No questions. You gave all the answers. He had four espressos. Thank you. Yeah, absolutely. Thank you, man. Thank you. We need you. There's a a process. Oh, yes. By all means. Do you want Do you want the mic? I might be very unpopular for

saying this. Um, so three years ago I literally couldn't navigate an iPhone. Um, I missed the.com bubble and I've thrown myself headlong into AI. So I'm not trying to sort of, you know, create arguments here, but I I've I've really started to study it very very hard and I just um I' I've managed to set up uh Multiple businesses now. I've managed to code software. Um, I've managed at the same time to start launching a a business, you know, a clothing business, stuff that I was never able to do. Um, and it's it's given me

that leverage. Um, and I think we just need to be really careful as a community not to demonize AI because it's with the work that I'm doing, it's actually saving me 15 to 30 hours a week, which is allowing me to spend more time with my loved ones, which I think is really important. And it also allows me to spend more time where it will do in this community and to actually be productive for this community. So I just just a point I wanted to make. I think we need to be careful. I know all

the negative sides of AI but there are a lot of positives. And the big like Mother Theresa said, if you want to do great things in the world, spend time with your family and love and AI does actually offer you that opportunity because it makes things cheaper, faster, and better and saves time. So I just that's my point anyway. Thanks. Thank you for sharing that. Yes, there's there's a process behind every decision. We all know that. And a process behind how you think, how you study, how you train, and um how you hold a position

over time. It's something you built, something you sustain. And especially um when things move against you, when there's no feedback, when there's Everything when everything's still unclear, I think that's where discipline starts to really really matter and the ability to stay with it to uh to keep showing up, to keep refining it. And uh that's what we're getting into now with our next presenter. Please welcome our Lanki. Thank you so much, bro. Right. How am I working this? Hello everybody. It's so beautiful to see so many faces I recognize. Uh I've met so many guys

in the community in real life. Uh so it's just so wonderful to be here and yeah, as Mo said, thank you all so much for showing up because this is really really what this is about. But anyway, today I get this opportunity to present. I'm going to be talking about just things I like. It's SBXcoded, but unlike the other presentations, I'm not going into any one thing in particular. I would love for this to be interactive. So, if anyone's got questions or they just want a shout out, go for it, please. Okay. Green button. Yes.

Yeah. I'm trying to write a book. Yeah. I'm trying to write a book. We're a while away. I've got a lot more to learn before I can uh put out what I want on the topic of alchemy, which is uh it's funny how it came about. Just a quick one. Uh I sent a draft to my friend and I titled it alchemical and he like sent this response. I know some copies actually got printed off of it today. It's not that great. I can't lie. It's a really rough draft. It's not that great, but it's

put me on a mission to understand things uh better. Let's begin. Truth has never come easy to man. We see it all throughout history. And I want to start with a man who suggested that we wash our hands. In the 19th century, the man who decided that between dealing with the dead and the sick and a woman giving birth, we should probably have a quick rinse under the tap. Seems like good procedure. He was ostracized from science. His colleagues were offended that their hands could be the responsible for the death of so many women giving

birth. He was sent to a mental asylum and he was beat to death there. 20th century Alfred Wgner the guy who figured that if you look at a map it looks like the continents fit together. It's like almost like a puzzle piece. It didn't seem like a crazy idea but to everyone at the time it did. He was pushed out of science. He was pushed out of his discipline and he died with no one really believing him. It was only 30 years after his death we actually realized that continental drift is true. And there's so

many examples throughout history. It seems every time we make a new discovery, we will burn, imprison, Or kill those responsible. This man here, Bruno, he thought that the universe might be infinite in a time where we thought it was finite and he was burned for it. Galileo thought that we weren't the center of the universe. Uh, and the church thought that was an atrocity. And Socrates, who did nothing but ask questions and make people think, drunk poison, uh, sentenced to death. He would rather not leave than just take his punishment. And there's people today that

I believe fit in the same category. This is pseudo health practitioner Barbara O'Neal. She's my favorite person to go to for health advice. And that's Graeme Hancock. Uh I love history. Oh, I'm I'm putting the mic away. I just like to like to shout. Uh Graeme Hancock, I'm gonna talk about him a little bit. The human brain has been much the same for at least 35,000 years. So just to put some context onto it, mainstream archaeology believed that ancient Sumeriia was the first civilization. First time people got together like this in large groups. And yet

we've been practically the same for 300,000 years. What was going on during all that time where we didn't actually achieve anything? Well, I'm not too sure. I think we might have achieved something because 12,000 years ago, this site was built Gabbeci. It's had to rewrite mainstream archaeology because it's shown sophisticated human construction just after an ice age. And more than That, astronomical alignment. They had sophisticated knowledge of the stars. And these were supposedly primitive human beings in no more than cloth and spears. Doesn't make sense. And ironically, there's so much more in Geekbeci underground still

buried away, but we're currently planting new trees over it. Why are we planting stuff rather than digging it up? It's I don't think it's a conspiracy. I think it's human ignorance. This site is amazing. In Indonesia, Gundowan Padang, they have taken core samples 5 meters deep. This entire site is under a mountain. And just 5 m deep, the soil dates to 25,000 years ago. This site is 50 m deep. The pyramids is a funny one. Uh I throw this in. I don't really want to go into the whole debate about the pyramids, but I just

think this is funny. We believe that it was done in the desert. Thousands of slaves as tugging rocks. There's even the idea like it's all theory. Everything you hear about the pyramids is theory. We might have they might have built it all up and then dug it back down. This is what's fascinating about the pyramids. Now, two years ago, there was new radar scans which shows massive construction underneath the pyramids. 800 meters deep under the pyramids, there has been man-made, I think man-made, uh, work done. Do we really think this was the primitive ancient Egyptians

just 5,000 years ago with sticks and stones? And there's a lot more to this. This this is a rabbit hole. And I love it. It's I find it so fascinating because it's at the cusp of human knowledge. There's finally an area where we can really see that there's more to know. Bicarbonate soda. I'm taking a twist now. This now goes into conspiracy theories. I hope we're all fans of that here. Yeah. Come on. Okay. Bicarbonate soda. If I was to stand here today and suggest to all of you a cure for cancer, life over. It

would be so hard to get a job. I would be ridiculed. So, I'm not going to. But bicarbonate soda is fascinating. I use this to wash my clothes if I'm doing a white wash. This is all I use. It's fascinating. It has so many properties and it's one of the cheapest items in the supermarket. Another topic, 911. You can't talk about it at the dinner table. Why? Why can't Why is it such a taboo thing to talk about? The picture I put up here is from the BBC. They talk about building 7, which on the

day of 9/11 wasn't hit by a plane, and they say it's collapsed. It's in the background. It's literally that building there. And the BBC reports that it collapsed 20 minutes before it did. Nothing hit the building. That's all I have to say. This is Francis Bacon and Francis Bacon. Did anyone get that? That's actually Shakespeare. It's another one like Shakespeare wasn't an educated guy. And it seems that somebody wrote his plays or maybe a group of people. And the question is why? And I think the answer here is fascinating and it's where I'm struggling to

actually write my book alchemical because there's a lot to alchemy more than the people trying to convert things into gold. It's more metaphorical than that it appears. Francis Bacon likely set up the Freemasons. Fascinating guy uh advisor to the queen at the time in England. Why would he put great works, some of the literally the best works, anyone who here is British definitely learned some Shakespeare in school. Why would you put it under somebody else's name? I believe it's cuz he was trying to hide a truth that humans wouldn't understand. Like in the same way

I just now talked about these crazy ancient history things which completely rewrite our time. You're not going to instantly believe me. And that's a good thing. Humans tend to need three takes and then they can even contemplate changing their opinion. Yeah. Knight Templar. Uh that's more of the backlo of the Freemasons which is on the right now. I see Freemasons all the time in Covent Garden. I've actually Tried to ask them uh who makes the British pound, but they refuse to be filmed. Uh, but I bring them up because they're a cult like we are.

And I like to use the term cult. I'm also one of the guys in the community that like to use the term memecoin. And as I'm trying to develop in this presentation, it's because truth doesn't come easily to people. It's so hard to bring up the conversation of money. So difficult. And to say that you don't want to partake in the fiat system, it's just pure taboo. It doesn't make sense and theoretically it's not practical. Uh I'm all in by the way. I I only own SPX. Yeah. So hermetic philosophy is the it's the main

thing around alchemy and the Freemasons, Francis Bacon. I can't claim to know it because I do not. That's the problem. But their main principle is as above so below, as within so without. And I think that's really good. I think that's a really good summary of the way of the world. I'm a gym guy. I think I've learned something. I think it's really useful information. I train in the gym 10 minutes a week. I've been doing this for 2 and 1/2 years. and I've put on muscle and I've got leaner. All my friends think this

is ridiculous. I've convinced basically nobody to train this little. I've trained people to I've encouraged people to train less but 10 minutes a week it's Ridiculous. It goes against the whole philosophy around bodybuilding. Arnold 2 hours a day, twice a day, six days a week, no rest days. What this chart shows is how a dose reacts in the body. So it's called homeostasis. Your body loves to be stable, but life isn't stable. Right now the economy isn't stable. SBX isn't stable and it's not going to be. People always say like Bitcoin is too volatile. That's

the point. It's proof of life. And the way you benefit this system of life is by stressing it. But you got to do so intensely but briefly. It's a onoff light switch. It's not a workload to break your body down and then build it back up. That's a waste of resources. That's energy and effort and that's a limited a limited energy. A really great example of this is California. The firefighters have been awful. But for years prior to this, they were making huge efforts to avoid any. As soon as a fire started, they pull it

out straight away. They would clear up dead bush, which would be responsible for causing a fire to expand. And what did that lead to? When a fire happens now, it is devastating. I use this as an analogy to describe our economy and the mindset behind it that we must have stable systems 8% a year Guaranteed risk-free. What does that result in? It results in a system that's more fragile. That when something catastrophic happens, it will be catastrophic and we would be much better off with more frequent controlled stresses. This is my last slide. Uh, I

put pictures of doctors up because this is the image of almost of God today. Science is the new religion. If something's been proven in a scientific paper, it is gospel. And if it's not in a scientific paper, it's not even real. Thank you all. Yes. Oh yeah. Okay. Oh yeah. Oh yeah. Um hello. Hello. Okay. Yeah. I'm also a practitioner of very low volume gym going but still I do three times a week 1 hour 1 hour and a half max it's very little when I speak to my friends they'll say you have to do

more I don't and I see very good results but even for me 10 minutes a week sounds I'm skeptical it really works for you yeah okay so I've evolved over time I do a lot of isometric work now throughout the week so like a daily movement routine is what I call it. But the actual stressor to stimulate muscle growth is 10 minutes a week in the gym. And the method that I use is I aim if it's an upper body uh movement, 40 second set with 5-second negatives, which will end up being about five reps.

Now, I can't say those are definitely the best numbers, but I've read it's the work of Arthur Jones and then Mike Mensah and Dorian Yates. They they're the three main guys and I've looked at all of them and kind of like taking what I can and that seems to be the good thing. For legs, unfortunately, longer like 2 minutes, maybe even four minutes or more like and it should it should suck. When you do a 5-second negative, you don't realize how much mechanical tension has gone through the leg. When you then go do the positive,

you realize you have broken it down. You've stressed it in that exact moment. You're threatening your survival. Sure. Uh, everything counts and it's I guess we can connect it to SPX. It's like DCAS. If it's 1,000 by Maddox or if it's $1 by someone else, it all compiles. Yeah, I'm one of those guys. ROS lead to SPX. Everything I said in this presentation today, I could have a conversation and tell you how this leads to my belief in SPX. Uh, but there's no point spelling it out. It's one of those things. You believe what you

wish. Yes. Uh, I'm monitoring the chat and they're they want you to take your shirt off. No, for you to prove your muscles. Oh my god. I'm embarrassed. Take the shirt off. I'm embarrassed. I'm sorry. I'm actually embarrassed. The girl is cute. Proof of muscle. Seriously, That's what I don't like about bodybuilding. I think it's kind of like cringe to do the fake tan and then get on stage just like flex my muscles. They're in there. Trust guys. All right. Well, thank you so much. I think it's now going to be lunch. Thank you for

that. Thank you, Arlani. Um, a short announcement before we take a break. If anyone wants to purchase an art piece, they're all out there and you should go to Tea Dog, ask him if you're interested. So, we're going to take a short break now. Uh, we should be back here around 1:45. Sounds good. There are plenty there are plenty of options for lunch around. Feel free to come back here if you want to have lunch here. See you back here in a bit. Heat. Heat. Hey, hey, hey. Heat. Heat. N. 117 117 I am I

am so I never Someone else. feel. Someone else Heat. Heat. Heat. Heat. How do you feel? Hey hey hey. I don't know. I'm 77. Heat. Heat. Nice. The money. Heat. Heat. Cinnamon. I don't know. Heat. Heat. Hey, hey, hey. I don't I don't know. Enem eliminator. I'm going to say Heat. Heat. Heat. Heat. 7,000 on the S&P 500. S&P 500. S&P 500. The S&P 500. 58 trillion. It's what every financial adviser calls the core of American wealth. From retirement accounts to institutional power. This is the benchmark executed. The members doubled. Who's just been running 150

days of consecutive quit? And this brought S&P6900's market cap from 10 million I don't know. Hey, hey, hey. Hey, hey, hey. finger. Heat. 717 elimin. I'm so I am I am I am I Now again, summer. Heat. Heat. Are you Heat. Heat. Hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey. I don't know. Hello. 11. Cinnamon bellow 117. I'm so happy. Sh. Hello. Heat. Heat. N. Hey, hey, hey. Heat. Heat. Y I know. people. Minnomon 11. I am so I don't I'm Let me see. Heat. Heat. Heat. Heat. Heat. Heat. Tell

me. Heat. Hey, Heat. Heat. Hey, heat. Hey, heat. Hello. Cinnamon. Hello. Hello. morning. Middle Heat. Heat. Emotional. [ __ ] Heat. Heat. Are you ready? I don't want I don't know. honey. Heat. 117 upon 117. 7.7 Heat. Heat. Heat. Heat. again. 7 Super heat. Heat. Heat. Tell me. Hello. I know. I know. Cinnamon elimination. I'm so c Heat. Heat. Summer. Summer. Another person. Something like something. Are you happy? Are you happy? I don't know. Heat. Heat. Hello. 117. Heat. Heat. American system. America. Super. Seven. Heat. Heat. Heat. Heat. Number n. Are you ready? I don't

know. Heat up here. 71 upon 117 I know it upon 11. I'm alone. Heat. Heat. alive. Some of them feel Heat. Heat. I'll be in Hey, hey, hey. Heat. Heat. I don't know. I don't know. I don't know. Heat. Heat. Eneminnon 11. I'm so c Heat. Heat. Summer. Every single Myself. Hey Happy. Heat. Heat. N. Hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey. Heat. Heat. Even more elimin 117 upon 77. Let me let me see. Heat. Heat. Some of them are sometimes Cinnamon. Heat. Hey, hey, hey. I don't know. 117 upon

117 bonan. Heat. Heat. Select something. 7. Cinnamon. going down. D Tell me. Hey, hey, hey. Hey, hey, hey. Heat. Hey. Hey. Hey. Everinnomon upon elvin cinnon upon 11 cinnon. I'm so nervous. Some of them are super Super heat. Shooting everybody. Heat. Heat. Heat. Heat. Hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey, hey. Heat. Heat. N. You're doing 11. 717 elongator emergency. Heat. Heat. Williams. Open. Heat. Heat. Nice. Heat. Heat. Happy birthday. I don't know. Heat. Heat. Hello. 11. I'm celebr Heat. Heat. I am going up. Everyone else. Heat. Heat. Heat. Heat.

Hello. Number one. Hey, hey, hey. Heat. Heat. I don't know. I don't know. I love cinnamon. I love I love them. I'm celebrating. Heat. Heat. I'm never smiling. protection. Hey Chicken. short. Heat. Heat. Heat. Heat. Hey, hey, hey. Hey, hey, hey. 117 upon I7. I'm going to see. Heat. Heat. I'm so cur Heat. Heat. Cinnamon. Heat. Heat. Heat. Heat. Heat. Hey, I know. Heat. Heat. N. I'm going to feel You know, everyone I am settle down. Heat. Heat. something. Get it. CB Are you ready? I don't know. Heat. Heat. N. That's right. I'm 77. System.

I'm sorry. Super. She go double door. Down here something. Heat. Heat. I don't I don't I don't I'm doing 11717. I'm sober. Spirit. Chicken Do you know? Heat. Heat. Everything. I don't know. Heat. Heat. 1171& 11. Tell me something. Heat. Heat. Another time. Heat. Heat. Are you doing? I don't know. I don't know. Malinnon Minnoon 71. American summer. Heat. Heat. N. Yeah, I cried in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got

back up when I fell. There's no way that I could lose. I don't want to sound like that because overused kicking me in the matrix and they leave too many clues. Going out in a place I won't ever call the truth. North, east, west, south. But you'll see me all the outside and I'm feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke. Well, I still ain't getting it. Like a perfectionist, but I got crap penmanship. Pull a saber out from underground. I'll sp see you later. I can't

stick around. I'll never shed a tear. My bravery is multiplied. Every time I face a fear, so there's so but your life is what you need world spreading love. Even when it's cold, this ice won't ever make it big. If you don't ever learn to roll the dice, hit it out the park. I score of 999. Everything up on the line. I won't resign my school, not the crack in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now

them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that cuz that was overused. They keep me in the matrix. They leave too many clues. Going out in a place I won't ever call the truth. North, east, west, south. I bet you'll see me on this. If they're writing, they're deleting it. I write the same songs, but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarrassed like they got roasted by comedians. I don't

need a sign. I just need to follow the light. I don't fall behind by make it mine. I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blends and popping champagne, remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say body. In my dreams, I see the world and let the music in the I aiming for the roof. If I want it, I affirm it. I have faith that I'm

the proof. I spell now back up when I fell. There's no way that I could lose. I don't want to sound like that because that phone is overused. Can't keep me in the matrix. I leave too many clues. Going out in a place I won't ever truce. North, east, west, south. You'll see me all the Yeah, I cried in the firminate. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's

no way that I could lose. I don't want to sound like that cuz that was overused. You keep me in the matrix too many going out in a place I won't ever call the truth east but you'll see me outside feeling so elegant stay in my zone and I'm still perfecting it thought I was a joke while I still ain't like a perfectionist but I got crap penmanship pulling saber out from underground right here see later I can't stick around I'll never shed a tear my bravery is multip but your life is what you need

world spreading love even when it's cold as ice if you don't ever learn to roll the dice it out the park 999 everything up on the line I won't resign my school not a crack in the permanent I ain't aiming for the roof if I want it I affirm it I have faith that I'm the proof I spell now them haters are confused back up when I fell there's no way that I could lose I don't want to sound like that because that was overused can't keep me in the matrix they leave too many clues

going out in a place I truth, east, west, south. If they're writing, they're deleting it. I write the same songs, but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating, they embarrassed like they got roasted by comedians. I don't need to sign, I just need to follow the light. I don't fall behind by make it mine. I'm chilling in the booth every single night. Love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne. Remember all them days in the

cut. I was barely getting paid. Things were tough and didn't even have the time to say the body in my tombs. I see the world and let the music crack in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because that is overused. Can't keep me in the matrix. I leave too many clues. Going out

in a place I won't ever call a truce. North, east, west, south. You'll see me on the news. Yeah, I cracked in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because that flow is overused. Can't keep me in the matrix. Going out in a place I won't ever see outside. Stay in my zone and

I'm still perfecting it. Thought I was a joke. Well, I still like Good afternoon, Aons. I hope you enjoyed your lunch. Um, I just heard we've sold seven art pieces. So, if you're if you're interested, we still have time. And, uh, also we have the goodies. Make sure you grab your goodie bags at the entrance. There's one for every single one of you. Make sure you grab yours. There's something very simple, very elegant at the core of SPX like bit Bitcoin's code, the matic layer, the the architectural the social architecture is clean. It's minimal and

it opens up a lot. You have a mission that gives you a direction. You have a system that's stays open. Anyone can step in as long as you align on a set of behavioral codes, what we refer to as the commandments. And there's probably no one better to walk us through the commandments than our next presenter. Please welcome Professor Flippard. Hello, welcome to Fenop Park classroom. I'm professor in the cognisphere uh head of research in sinping underground lab first people to merge quantum with ethereum technology and I will teach you today and primarily for Little

asans the ten commandments of spx6900 and it's a very serious lesson I don't want to hear no talks and no love it's a very serious use classroom. But first, assistant, my notes. Assistant. Quick, quick. Hurry. Hurry. I'm an old man, so I have big notes. Yes. Yeah. Thanks. It's my notes. Quiet. You want to hear no laugh? Quiet. It's very serious lesson. It's not joke. First commandment of SPX is no lud. No pornographic content. No girl without closes. No, we have a queen here, Mary Rose. And you respect the queen. You don't put pornographic content.

We have its to preserve. So be careful. I'm watching. Especially you. you for not enough. And SPX is um a project carrying its uh which are cute girls first because cute girls are cute forever in comparison to sexy girls. We prefer cute girls. The second um you don't love You don't love. It's a very It's a very serious lesson. The second commandment is the only enemy is tread fire. Very important rule. Very important. We are PVE. We don't attack other communities. We don't PVP never. Other people are our brothers and sisters against a rigged system

enslaving us. So you don't PVP other people. Very important. Very important rule. Very important. And we are all united against u a system of corruption which is incarnated by the 500. And we need to we need to unite against so even people trash talkinging us are our brother and sister against this system. So the third rule is the girl is cute because first the girl is cute. She's here. Mari Rose is our queen. And since soon we have another PhD mega mind named Chang that created an AI called Lumi. And Lumi is our little queen

growing. And someday she will be even bigger than Mario Rose. You know false rules of the cognifer 6900 is bigger number than 500. This is classic maths. I'm a professor. I I made the calculus you know very difficult and complicated mathematics and I can assure you the the math is matting you know. Um the fifth rule is a peaceful life of a grid. This is one of the most important rules and it make us shine in the darkness. We are even more uh shining bright because it's it's very unusual in this world. So crypto in

general is very greedy. People always asking about metrics about whatever which is a lot of [ __ ] and we are careering a style of life which is peaceful. It's a peaceful revolution online. It's very important. This is the succession of a long story of revolt. It started with Spartacus long time ago, but it was violent and I so it's been slashed by Romans by violence. you have like um long after you had like occupy Wall Street which have been um an IL revolt which was peaceful but been infiltrated and we are the evolution which

is now Decentralized online and cannot be slashed because of the tiny token I invented in Jing underground lab long time ago. Six, persist forever. One of the beautifulest rules because as we have a big mission to flip the stock market, it will take a lot of time. A lot of time. We are here for long term. And persisting forever is a spirit most of it. And you don't laugh. Don't laugh. I've seen you. Why? Stop laughing. It's not funny. Stop. Stop. You can keep it. I've seen you. What? What? Oh, my hair. Yeah, because I've

seen a lot of little as not respecting the rules. So, I scratching my head and I'm like this now. It's terrible. Terrible. That's why I'm here teaching the good practice. and welcome world the new little as here seven rules kill them with love is a very important rule because one of the most important things in a movement like This is welcoming new people very well with love, hope and belief and having people like me doing this for little as teaching them the good practice and the ethos is the most important thing they will grow as

good a so that's very important to show love especially in a world where there is no love anywhere eight rules DCA chill and chill. This is one of the evolution uh of Bitcoin community. Bitcoin community was huddle and we are the evolution which is DCA. DCAing a lot of people are doing it chill because it's related to a peaceful life of a grit and chill on boarding new people. That's part of the duties of aons nine and very important rule I will be very strict with this one there is no chart I seen charts here

charts before charts before here and say I'm posting charts I will be very sever with this if I see some charts you're dead I will be on your back forever forever ever serious and um I will end this little talks with the 10 rule which is you're a bot and That's okay and it's very like poetic that we end this rule today because back in the days people were saying online we were bots and today you cannot say this anymore because we are Here I showing people we are not butts. Thank you very much. I

have to come back to my lab to make some research. So it was my presentation quick and on point. Thank you very much. I can give you Yeah. Assistant, please. Yes, it's okay. Yeah, sure. Go ahead. My little comment. Uh, yeah. Take the mic, little Thank you, professor. You have been involved in a bit of a scandal. A scandal? Yes. Can you Yes. you. It's not possible. Yes. You have been found to put be putting pineapple on pizza. No, I don't think so. That's fake news or that is okay. I trust you, professor. Never believe

me. No, of course not. Pineapple on pizza is bad for health. It's It's scientific. I can prove it. Okay. Okay. I believe you, professor. I believe it. Yeah. Thank you. Thank you very much. Have a good presentation. I love you. Professor Flipper, thank you. Very important framework, right? A way to think about how things hold together and uh what guides our behavior. But then we have to take that out of the classroom, right? and um into real places with real people in situations where we can't stay theoretical. And we've all seen some of most of

you have experienced it and we're experiencing that right now actually. But sometimes that kind of presence takes um training, takes preparation, it takes um time. There are obstacles, there's hesitation, there's trial and error. And that's what we're going to hear about with our next presenter. Please welcome the one and only Seb. I I might seem kind of crazy. So, I might seem kind of crazy when I'm doing this stuff on the streets. Um, but today I'm going to be talking to you about why that crazy is is more of just an act. Lots of faces.

Feel it. It's just an act. And the act is my way of getting eyes and attention to SPX6900. And even as I feel it now, it's stepping outside of my comfort zone to do what I think I can do best at this moment in time to serve the cognosphere, which is being silly. I haven't got many ideas outside of that, but so far that's been sort of my strategy. And so today today my my goal is I would like to I would like to challenge everyone to consider how you might also step outside of your

comfort zones and yeah how you might step outside of your comfort zones and why you might want to do that why you might feel called to do that for SPX. Forgot my slides. How there's many ways we can do how and there's many benefits to doing it. Today I'm actually not going to be talking about the benefits of doing it just because I think we kind of all get those. The benefits are IRL stuff good eyes on SPX6900 good and how it's the next slide. How? There's lots of ways it been done. Lots of people

have done it before. leaflets. No, no, it's all right. It's good. Um I just I just have really bad slides, everyone. I got really bad slides. Um But the how there's lots of ways been done already. Lots of contributions. I can see lots of eons here who have done IRL stuff already. And that also expands to doing stuff on social media, stepping outside of our comfort zone. So we won't go into too much of that either. Handing out leaflets. Um you can be doing posters. You can be putting stuff up at work. Here is a

slide. You can even do it for your family. That's actually one of the more tricky ones I find, but I think that's quite funny. Um, and this one actually started with my sister doing IRL. We started together and shout out MS from the beginning. It's my ear on. Um, two is better than one. I I prefer to personally just because for me too it's better company, better banter, um better camera angles, but you can do solo. Solo is fantastic. A lot of people are doing solo work. It really tests you. It really challenges you. Um

and in groups, obviously hopefully we can all do groups after this session today. We were doing some yesterday. So there's so many different ways that we can do it. Um, but I think the main idea is whatever we do, however you feel called to do it, the idea is we want to get attention. And that's one of my way one of my main themes today is how can we get that attention? Um, so standing out, Standing out and going outside of our comfort zone. So with the megaphone, the megaphone was one of the ways I

was able to do that. I knew that I could be louder than other people. It's kind of odd because even though I'm in front of all of you now, I feel myself more nervous. But usually when I'm on the streets, I feel a kind of looseness. I can't explain why exactly. But part of today is also going to be you're all probably going to feel that. You're all going to feel that in some way in some way as we go through this process. So bear that in mind as we go through what are these reactions

that we're having in our bodies. Um, and the idea is that many people would be great for IRL stuff. Many people would be fantastic. You might have the desire, you might have the want, the resources, but there's just one teenytiny problem standing in the way. Before we do that, before I show you what it is, I need some people to come up to the stage and join me. So, I need to pick on some people. I need three people. three people who would come up. Oh, no, no, wait. I'm gonna pick them. I'm gonna pick

them. But I love that, Jordy. That was great. That was great. That was great. Let's see. Nollet, if you could stand up for me, please, mate. Who else? Who else? Who else? Who else? If you could stand up for me, please, bro. And just hold on there for a second. One last one last one last. It's a joke. It's a joke. You can actually sit down. It was I was actually just calling your bluff. Probably not a good one. You guys were way eager. What I was actually trying to do there. Very behind on my

slides. This is a bit mish mash. But what I actually wanted to do was to kind of elicit some physiological responses. I wanted I kind of want you to feel those feelings because you might be feeling them called up. Jordy, you weren't. It's phenomenal. But that kind of that that beating heart, your mouth, I can feel my mouth getting drier right now. Eyes shaky, sweaty, heart beating faster, butterflies in the stomach. And all those things come around. What would you call that? What would be nervous? What's another word for nervous? Anxiety or fear. Fear. Exactly.

You can group those all together. Fear. So fear often stands in the way and fear of you can see what's happened with my slides. I have no prompts for myself but fear fear of being seen, fear of judgment, fear of I suppose standing out, fear of taking up space. All these things can get in the way because we don't want to be seen. Now, the more time I go up, the more time I go out with a megaphone, what I find is that that fear, I'm able to, Ruben, you Says that word earlier, alchemize. I'm

able to alchemize it faster into something that feels really rewarding on the other end. Every time I go out with my sister, we feel that on the other end, it was entirely worth it. But at the beginning, before we jump over that hurdle, it's incredibly you feel fear in your body. your body's doing all these things and the desire is almost betraying you because you you you want to do it but there's these physiological things standing in the way. So today I'm going to be trying to help or introducing some ways that we can kind

of overcome that and practical things that we can actually do together. Um which means this will be a bit of an interactive session. I hope everyone's available to be a bit silly with me. Yeah. A little bit. Yeah. All right. So, fear. Oh, fear leads to anger. Blah blah blah. Fear leads to the dark side. That was a redundant slide. But let's holding it for a second. So, the idea is that where does fear come from? Fear comes from self-importance. And self-importance is basically the idea that there is an eye that exists. There is an

eye, there is an ego, there is a person that I need to protect. It's it's about being too precious over this thing. Like when I'm doing silly things that the biggest thing I'm trying to do is get outside of of the idea that there's anything I can mess up because there's nothing we can mess up. There's nothing bad that will go that will happen. That's a terrible slide. I completely messed up my slides. But it's it's getting out of the idea of what you guys are going to think. And I know you guys are going

to be very gracious. But when we're doing things and we're putting things online on social media, there's a fear that whatever happens is going to impact on I. And the idea is that that that doesn't exist. We're playing roles, many different characters, and there's nuances of these roles. And so this slide actually does make sense. makes us all if we're all playing roles that makes us anybody actors. Yes, actors. Not all of us are actors, but the rest of us are actors. That's my own internal joke. I just think they're interesting actors. So, the idea

is that we're all, if any of you seen Game of Thrones, the faceless man or woman, we just play a million different roles. When I was younger, I'd done acting classes. And one of the most transformational parts of that acting class was having the ability, we would do a sort of meditative practice. And in this Meditative practice, we would sit in a chair and we would do this exercise where we would get out of our heads and into our bodies. Out of our heads and into our bodies. And the idea is that we're so stuck

in the head We have to do something that goes beyond ourselves that isn't about thinking. We have to get out of the head into the body to transform that. Um, so we're all actors. I'm an actor. You're all playing an act right now. And that might seem inauthentic, but the idea is that if we can't step outside of who we're playing right now and the many nuances of that character, then we're crippled. And we've all got to find a way to to show up for SPX forever. And it would help if if it nourished us

while we did it, which is probably going to mean at some point infusing some part of our own passions and joys and being seen by other people. And at some point there will have to be I've heard the the phrase leap of faith will have to be taken and will have to be exposed at some point. But who is that that's being exposed? Um so the mask, we have to take the mask off. Who are you without the mask? Anyone you want to be if you don't take ownership of that character. Anyone you want to

be. Show of hands. How many parents have we got in the room? Fantastic. Quite a lot. And then for the parents, how many of you as much as you love your kids Can still identify as more than just mom and dad? You're more than just mom and dad. Yeah. Okay. Some of you. Not all of you. Sorry. Some of you which completely transform your character, but some of you you can still separate those characters. How many people here might for example communicate differently with your parents than you do with your friends? Show of hands. Okay,

so a few more. Cool. More of the room. How about professionally? How many people professionally might behave differently to how you do when you're at home? Show of hands. Okay, cool. Or let's say clothes as a really easy example. We wear different clothes. Maybe put on a tuxedo or a dress, you start to move differently, walk differently, right? So, we can already acknowledge that we have these nuances of characters. And that kind of leads to why take ourselves so seriously. Then, this is just one of my pet peeves that I think is one of the

worst phrases, but it it actually I think it's it's kind of true. People who don't take themselves too seriously That's me. And it's it's honestly so bad when you make social media content and you keep putting your face out there because you can see. And it gets worse. It gets so much worse. I have to ask myself, do I really have that many double chins? Do I stand like that? Do I walk like that? Do I talk like that? Do I say the word like that much? Do I have that much fat on my face?

Does everybody see my hair thinning? Yes. Yes. Yes. Yes. Yes. Everybody sees it. There's nowhere to hide. It's really bad. And at the same time, it's a it's it's just the character. And it's getting past that feeling that that character matters because it is what it is. But we can do so much more than the perception. So, magic time. The interactive part. I'd like everybody please to stand up. Up. Fantastic. And what we're going to do is I would like everybody to say their biggest fear. But we're not just going to say the fear. And

remember, it could be anything. It could be something really trivial. heights, rats, snakes, spiders, anything you like. Right? You're going to say your biggest fear, but you're going to do it after you spin around. So, you're going to spin around on the spot. I know we're a bit tight in here. Spin once, spin twice, and then you're going to say to your neighbor, "Eon, fear, fear." Okay, ready for that? Nice and easy. Ready? Three, two, one. Let's spin. Only spin twice and then say your fear. Perfect. You got the same one. All right, guys. You're

going to do it one more time then. You can do it one more time. But I only want to spin around once this time. You're going to spin around once and then after you've spun around, instead of saying it to your ear, onto your left and to your right, you're just going to say it out loud for me. Okay? As loud as you can. Ready? Three, two, one. Spin around. Yeah. Fantastic. You can sit down, guys. Fantastic. Good magic. Great magic. Yeah. Very good. And so what was the magic you just created? Can anyone think

it was? Yes. And how did you do that? What did you do? Yeah. You But what you did? It was kind of irrelevant the the the the words and the sp. It was the movement and the sound. Sound and movement. When I made that big scream at the beginning, I kind of just wanted to catch you off guard. But I also thought, man, when I come up on this stage, I'm going to be a bit nervous. I can feel a bit less now. But I thought when I hit that megaphone, ah, the first blast gets

me out of that fear. I'm good to go because I can't be any more exposed because I've gone fully into that sound. So, the idea is that Sound and movement that you just used there are two sort of ways, methods that you can get out of your head and into your body. Because as you're spinning, you're not thinking about anything else, especially apart from I'm going to look a bit silly right here. And you're spinning and then you're making the sound. And the idea is getting past the thoughts into an actual doing. So that leads

to the third one. So there's there's three that come with it. So the Holy Trinity, I call them. The Holy Trinity is breathing, sound, and movement. So you got breathing on top. The idea is that when you have those three combined, you can overcome all fears. And you might be saying to yourself, but I breathe every day, I make sound every day, and I move every day. But the idea is that we're probably not doing any of those fully. And I'll take breathing as the example. I could feel before I came up, I was shallow

breathing. And I would I would challenge how many people here are breathing fully. How many are shallow breathing? And how many are shallow breathing and you don't even know you're shallow breathing. And shallow breathing is is what we'd call um a cyclical stress state. So your shallow breathing creates your stress. Your stress creates your shallow breathing. So that's fight or flight mode. That's danger. That's fear. It's really challenging to be authentic and fully expressed when we're compressed. So sound movement and breathing is something we're going to be doing a bit of today. I'd like to

start with a breathing exercise. You don't have to stand up, but we're going to do a breathing exercise inspired by Wimhof. If anybody knows the Iceman. Yeah. Yeah. We're going to do a a kind of a bridge version. I'm going to talk you through it. We're all do it together. So, you're all going to take deep breaths. We're going to do 10 deep breaths together. Okay? You can breathe in through your nose or breathe out. Breathe in through your nose or breathe in through your mouth. Breathe out whichever way you prefer. It's gonna look like

fill up everything big as deep as you can. Once you've done that, you can make sound as well if you need to, if you feel like you want to. After you've done that, on the top of the 10th one, so you get to number nine, full breath. Number 10, hold your breath 10 seconds. I'm going to I'm going to time you off as well, so you won't be alone. Hold it for 10 seconds. At the end of the 10 seconds, you're going to release and you're going to release all your breath. Not just some of

it, all your breath. Once you've released all of it, you're going to hold it and see if we can hold for 30 seconds. Okay? So, we're going to hold our breath for a second time for 30 seconds. All the air gone. And the last thing we're going to do is we're going to take a deep last five breaths. Okay? And if you can't hold for 30 seconds, hold for whatever time you can. You don't need to pass out, but don't do that, please. But just go straight into your five breaths. Okay? So, I'm going to

time us off as we go, so you don't need to think about it. So, we're going to start all together. 10 breaths. Ready? All together. The first one. In we go. One, two, Three, four, five. Bigger breath. Bigger breath. Bigger. Fill everything up. We got two more breaths. Number eight. Number nine. I've got terrible counting. We got one more. Number 10. Breathe in and hold. Hold hold hold at the top. We're going to hold it for 10 seconds. 1 2 3 4 5 6 7 8 9 10. Release and release it all. Release it all.

Release it all. And you're going to hold your breath at the end of the release. Release all that air. Okay. Now you're going to hold it 30 seconds. One two three. Remember, if you can't hold, just release and go straight back into your deep breaths. You got five to do. 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Big breath in. One, two, in three. Last two in. Big as you can. Last one. Fantastic. How we feeling? Feel good? Yeah. Pleasant

tingling. A little bit high. a little bit. Nice. So, the sciency stuff that's uh it's called controlled hyperventilation and breath restriction. That's a decrease in CO2 levels. It's a boost in energy, spike in adrenaline. But most importantly here, what we're looking after or looking for is a drop in cortisol levels, which is about stress. So, that breathing there is directly related to how can we figure out the stress? Because remember we're saying if we're shallow breathing and we're up here it's really difficult. But when we're relaxed everything feels easier. Everything feels more possible. Right. Right.

Little bit. Cool. So we're coming closer to the end. When you shine, everybody shines. This is this is something this is something I think that's really important to all of us, even if we conceptualize it already. So, oh, I actually do need my slides for this one. I've completely abandoned them. Oh, here we go. That's what you just did. So, when you see someone who is, for example, um, singing and they're singing from the heart and they don't care. They're just letting it all out and you hear it. Who here feels more joy or less

joy when you hear someone just singing out of freedom? More joy. More joy. When you see someone laughing hysterically, you feel like it's contagious, right? Like Mr. Slow here. When you see someone dancing like nobody's watching, like eons, does it make you feel more joyful, more alive, or less? more, right? More. So, the idea is when when we're most expressed and and alive, other people other people pick up on that. Other people are able to to pick up on that energy. When you're listening to your intuition, your inner wisdom, I would call it your truthful

impulses. Your truthful impulses. These are based on your truthful action or sorry your truthful actions are based on your truthful impulses. So if I feel something my intuition I feel these truthful impulses and I take truthful action based on those impulses. It's it's something that we were talking about AI before. It's something that AI can't fashion because that impulse has come from somewhere else and I've taken truthful action. I haven't judged it. I've just let it come through. So we're conduits and this is a community of artists. And so I think the artists and everyone

else will get this. When you make art, art doesn't it doesn't belong to you. It is a transmission of your time. The art comes through you And you express it, but it belongs to everybody. And we all have that within us. How whatever we do, we all do a form of art. And I think that's what we need to keep in mind. If we feel like like Mike says, if you feel it, do it. If you feel it, really do it because somebody needs to hear that message. And it's coming through. If it's coming through

the lens of the cognosphere or however you do it, we got to get it out so that people hear it. If you feel it, do it. Um, I want everyone to do something for me before we get to the grand finale. Everybody say, "Yeah, everybody say moo." Oh, you guys are good. Everybody say Yeah. Everybody go bit higher. Everybody say pusses forever. Yeah. Everybody say pineapple pizza. All right. Cool. Perfect. Thank you. Guys are ridiculous. Cool. All right. Last thing we're going to do, guys. The grand finale. Thank you for being patient. Um Reuben Maps,

Mike, if you could come up here, please. Everybody stand up. It's the last thing we're going to do. So, it's an interactive one. It's an interactive one. So, we want to put all this to practice. Sound, movement, and breathing. This this slide. Oh, there we go. The hacker. The hacker. Now, it would be culturally insensitive to the hacker, right? But for anyone who doesn't know it, it's a uh it's a a a traditional kind of ceremony here done by the New Zealand rugby team. And they do this before they go into uh into a match.

And my favorite one is kamate. And this means triumph of life over death. And I like to think of spxs like that. It's the triumph of the SPX. Life over the death of the 500. So we're going to do our own version. We're going to do not the hucker. We're going to do the horse the horse dance. Again, pinched this from Wimhof, but it's bloody powerful. Not that one blood. No, Lude. We're going to do the horse dance. So, what that looks like, I'm going to show you. I should probably keep this on. We're going

to be doing it typically looks like this. Breathe in. H. Now, if you're I guys are awesome. If you're limited on space, but I think we'll probably all be all right. You can do it up in the air. I've got my fantastic assistants who didn't know what they were getting themselves into. But we're going to You can do it up in the air if you've got enough space out in front of you. If you can't straddle, no problem. If you can only do it to the side, no problem. But the most important thing is I

would like you to use h your sound. We're all going to be silly together. Don't worry. No one will hear you. Everyone will hear you. Right? And We're all going to use our breathing after h. Right? So, we've got our sound, our movement, and our breathing. We have to fully invest. We fully invested. Yeah. All right. So, 60 seconds. I don't know if anyone could time us, please. Has anyone got a a device? Perfect. All right. 60 seconds. Uh, we'll go this way. Yeah. Ready? Three, two, one. Off we go. H persist forever. Persist forever.

H. Stop trading and believe in something. H. Keep going, guys. Louder. Make sure Amsterdam knows. The are here persist forever. Persist forever. H. 5 seconds. Three. Two. One. That's it. Hey guys, wait. One last thing. One last thing. One last thing. You've got all the energy now. You're pumped. You're driven. I want you to turn to the person next to you and I want you to do the cringiest thing ever. And I want you to say, "I love you, Ion." Not not illy, Ion. I love you, Ion. You got to do it. I love you.

I've never been so convinced that guys that's that's it. You can sit down. Thank you. Thanks, guys. Thanks, guys. Thanks so much for having me up. I appreciate. Awesome. Thank you, Seb. amazing for showing us what it means to step in and how much of a performance it is. Actually, thanks man. There are a lot of questions uh in this space that uh we are exploring how things hold together as we grow, how coordination works at scale. What actually sustains something like this over time? And these are important questions, fascinating ones actually topics of course

you're all encouraged to engage with and question and and and test and and challenge. That's the the the spirit I think and I think we're extremely lucky that our next presenter is actually focusing on these topics. Please welcome Dab So, I don't know whether to thank Seb or curse him because now I'm I'm trying to decide whether I feel more relaxed now for my talk or whether I'm actually like my adrenalines are just going um yeah so today uh I want to talk a little bit about um scaling the SPX community or scaling SPX. So

I'm first of all I'm very honored to be here and and humbled to be here. And when I was first uh asked to submit a talk for the conference I actually had like maybe five or six ideas. I think I gave Moss uh five different ideas for a talk because I think SPX is this kind of uh huge canvas for me to express myself and I think it has become that for many other people. That's part of its magic. Um but when I when he chose this particular talk I quickly realized I'd taken on more

than I bargained for precisely because it is this uh multi-dimensional thing uh and for many others in the community. So because if you want to talk about scaling and agency and community there are many questions that you naturally start asking. One of the first big questions is what exactly are we scaling just beyond a community? Where's the uh where's the clicker here? So, I came up with this phrase, SPX6900 is definition resistant, right? It's uh hard to define because we all experience it in different ways. It started out as a memecoin and it probably still

is and probably still is to many people but and flip the stock market started out maybe as a bit of a skitso joke for some and now it's a genuine mission. Uh I think we've already seen today it has philos financial political philosophical spiritual and creative dimensions. It didn't just emerge in a vacuum either. inherited from crypto culture, from memecrowing culture, internet culture, uh, and it's building on or reacting against them. So, if we're going to talk about scaling, growth, and what any kind of success looks like, we need to remember that we may not

just disagree on uh what SPX is. We may actually be reacting and experiencing different versions of the same thing in our own mind. Um, so that is my next point is that I'm just one of many bops in the in the community. Just to give you a very little bit of brief background, I've been online for many years, probably more than I'd like to admit, notably in places like electronic music forums and open source and startup communities. Incidentally, that's how I just first discovered Bitcoin on Hacker News. and I spent my first like formative days

in the crypto space on Bitcoin talk. So I've kind of been through many different kind of like iterations of crypto communities and somehow now I'm here talking to all you guys. Um and when crypto was still a side quest for me, I was very passionate about building high agency self-organizing teams in the tech world. So and I probably should mention just for clarity I'm a post Murad Spxer. So all of this is just to to say like big disclaimer. Uh I'm not speaking for anyone other than myself or with any special authority. This doesn't have

any academic grounding nor should it be interpreted as such. It's just really my own experiences and observations. And I think like I say this is a point that I want to reiterate. It's important to recognize that none of us including me see the full picture. Um, and whatever claims I see to seem to make, if if your language sounds very authorative, just like take them with a bit of pinch of salt and that take them under advisement. So, and if I had to say a goal for this talk, it's just to bring some awareness and

reflection. Uh, and if some of it resonates, that's great. And if it doesn't, that's okay. That's kind of part of like what we're all putting into the into the cognosphere. So okay the next point that I want to make 6900 is bigger than 500. Yes, but a lot of things get bigger and get worse. You know the original inspiration of the talk was to preserve one of the things that I think we love about SPX the most and that is that we can all show up and contribute in our own way. But there's also more

than just that. I think we care a lot of about a lot of things. We care about the cultural coherence, the authenticity, the depth, how it might adapt over time. So it's not just about things like how we remain permissionless and open and decentralized. There are other things that we should be thinking about like how do we not become diluted or exploited or overcontrolled. So I just want to plant that seed as well. Um, and yeah, I wish I'd seen Polytric's talk in advance because he kind of like would have saved me a little bit

of time here. Um, but one of my first thoughts was really like everything revolves around trust and SPX because I think SP uh trust is incredibly important for SPX to do what it does and especially in a world where it's notably scarce and no more so than in crypto and at a very um it's a very tangible human experience thing of SPX as well. I think we all feel it basically and I certainly do and the relationships that I've built up in the community. So seeing who has shown like you know and this comes to

us in seeing who shows up over time, who contributes, who demonstrates the same values, the same tastes, the integrity, loyalty, all of these things, right? A lot of what um Polytric talked about. And informally we even have a word for this, right? We call such people aons and aon like for me it it denotes a level of what I call culturally uh cultural competence like those qualities and we get it we've we're kind of plugged in to the cognosphere right so the tempting answer when I first started like looking at this talk was well maybe

we just need to focus on making more aons are aons helping grow the next set or educate the next set of aons more trusted nodes in the network essentially. So, and I do think that that is an outcome that we want, but as a direct goal, it could be dangerous. Why? Because if AON becomes a category in the community and we label some people as AONS and some people as not AONS, like who isn't, who is who is, who isn't, who decides that in a decentralized community, in a permissionless community and on what basis? and

are there things that you can't do if you're not an AON. So, it's a slippery slope to like maybe make that the the goal rather than just an outcome that we want to see when we want to see more AONS because it will necessar undermine agency basically. Um, so the funny thing is is as I was doing this, like pretty much the Cognosphere has been talking non-stop about a lot of these issues and dilemas. Um, and it's there's been a lot of what I would call contentious and controversial threads and people writing big word walls

and Essays. And to be honest, I've been uh like I should have done like Mike basically and like pulled all my hair out on the the top of my scalp already because I pivoted this talk several times. That's why I'm reading a bit off my notes today. And continually revising what I thought I should say here because all these discussions that I've been seeing recently all relate to scaling and growth. And broadly I started to see two camps. Uh and there's those that have the fear of the delusion, exploitation, loss of cultural coherence, depth, and

then those that fear the fears of people becoming overprotective and being a less welcoming place and maybe inadvertently introducing hierarchy and and that also taps into losing agency basically. So I realized though that those two fears are also two uh things that we need that un underlying them. So I started to see uh two processes. I don't want this model to become sort of a cononical thing that like everybody references is in the future. It's just really to show you like my thinking process. But um really what I see is we have this permissionless expansion

on one side and we have filtering and signal on the other. Um and what you see is loads of over time loads of people creating, doing things, taking action and over the other side lots of people saying, "Oh, giving that a like, giving that a Comment, saying I like this, saying I don't like this as well." That's also important. And over time, we see a lot of things emerge, right? We see memes emerge, or we see things like trust and reputation emerge. And these are like the emergent qualities of the network. But part of the

tension is that there is this kind of like the way I see it is between idealism of being permissionless and maybe looking at the big picture as I'm kind of trying to do now and also like the the uh level of the human experience level which is much more these kind of like for us it is being in a network and interacting my friends and the people I have relationships with and what I realized is you know the reality is there is always going to be permission There's nothing that we can do to stop that,

right? Anybody can buy the coin. Anybody can make a post online on social media. Anybody can show up to this event. Um, but the pragmatic reality is that we also need to be also filtering and judging and supporting or not giving support for the things that we want to see more of and the things that we want to see less of. And both of those things are need to be in a healthy um balance with each other. If one becomes too dominant, then they have pathologies, right? And I the analogy that I kind of had

in my head was it's a little bit like if you know you're a nervous system and you've got the parasympathetic and sympathetic side. One side is for like rest, healing, and eating. And the other side is like flight or fight response when we have to Take action. So the so both if one becomes dominant will will be an unhealthy system. Both are required. So this is one of my favorite phrases in crypto and I think uh again it touches on um Polytric was saying that actually like things do take time to cook, right? Um, and

we also recognize that most crypto communities are just chart dependent group chats really. But when people go through many of those cycles of my, if you imagine my process of creating and filtering, it does over time produce something unique, valuable, hard to fake or replicate. Right? And these are the qualities that we've already been talking about today, whether it's art, whether it's trust, etc., etc., right? But I think we also have to recognize that it produces people as well. And that's why like you know I said at the start of the talk I thought maybe

more aons is the thing. It does produce people right and it produces people who have lived the culture not just created it and then that like it's very difficult to pull those two things apart. So, and we also I think it's important to recognize the the longer you're here, the more highly attuned you become and the more personally invested you become. And this is great. It is valuable. It is what makes SPX valuable, right? But change can hit culture broadly and a community like SPX like a tsunami, especially in crypto. It's a another mimemetic phrase

I stole. Few understand many soon will need to right. Growth is obviously part of the mission. But growth can be very reflexive when a token's price for example becomes the focus and brings in people not shaped by the same jokes, scars, draw downs, conflicts, selection pressures. Worse still, when we get these big movements, it can attract malicious or bad actors again, especially in crypto. And what I feel like this is one of the things I want to kind of bring awareness to, a lot of the people that have been here a while or like really

now um invested, they worry that that permissionless expansion side is getting out of balance, right? And will overwhelm the filtering and trust side. So, you know, and I think we've seen this over the last few weeks, uh, you know, long posts, warnings, people making models of like cultural competence, this talk included. In fact, you know, this is where I kind of went down the rabbit hole. So I think they come from a good place ultimately like they're attempts to accelerate the the competence and the becoming part of the cognosphere and becoming an AON but it

can look like attempts to control right and uh we've heard the phrase gatekeeping thrown a lot around in the community recently. So let me talk a little bit about gatekeeping or or filtering as I like more neutrally like to call it. So really it's just more of this less of that you know and I do think that and to bring one of Seb's points in sometimes we take things very personally right but we have to accept that no matter what anybody says or what anybody does it's just a signal there is no law there are

no smart contracts there is no institutions that are going to enforce anything on anybody I think the challenge is is when a signal and a strong signal comes to somebody who somebody who's got a lot of let's say reputation in the community or trust, they don't always sit well, especially if it's framed in an absolute and somebody's out there saying this is not SPX or this is SPX, right? And that can feel like unilateral gatekeeping and I think it's totally understandable. We should be trying sometimes to be a bit more mind mindful, but we all

have to remember that it's just signal. It's it's not law. Nobody unilaterally decides what what SPX is. So I think and the other risk is is that we might look up to certain members of the community like Moss reminded me before he did this talk I have a kind of responsibility to like watch what I'm saying and I wouldn't want anybody to outsource their judgment or their taste to any to me and I think it's also an important thing that we all have to recognize. It's important to listen to strong voices and people that maybe

have knowledge and experience that we don't. But it's not a substitute for truth. And you know that's another invitation. is just to always remember that and make your contribution and that ultimately like what and uh Moss wrote a great article like what persists like in the community will Persist and what what won't will fade away and that is an emergent property despite any one individual's input into that system. Um and then the other thing is to say nobody is a perfect filter either and SPX isn't a perfect filter individually or collectively. We will reject good

things. We will amplify the wrong things. We will occasionally place misplace trust. We will dismiss things that might have been value. It's messy sometimes but it's unavoidable. people are the network are the nodes but it's the direction over time that counts right now one paradox I really kind of like struggled it and noticed is that sometimes now where we are today we argue against behaviors precisely because those behaviors did the job to get us to where we are today so you know the old adage about strong men create good times good times create weak men

and so on right it's that kind of process and I think there's two main challenges es really uh one is that to remain open to the things that have outlived their usefulness and are no longer required and to recognize that some things are still remain critical to success. We all have to like keep making those evaluations and keep ourselves honest. And there is another dimension that I think we've started to notice over probably the last year or so. We've started to move into lots of different environments. Uh so Telegram is not Reddit for example um

and it does have a different sort of cultural norms there and online certainly isn't like it is here today right in real life very different sort of like behaviors so just re I guess again the invitation remember that uh the real danger is when these adaptive behaviors and they are very context specific sometimes might harden into something more formal like rules as opposed to the ten commandments or hierarchy or genuine structure where there is some kind of like you know one person positioned over another or one person gets to decide or a group of people

get to decide something and a group uh don't have that permission. So I want to disagree with Mos a little bit. He he said about um how we have this you know the ten commandments and they do cover a lot and I I will talk about it a little bit later and they do actually solve a lot of problems right uh they help compress a lot of the norms and the wisdom that community has learned over time and they do help people act without permission without having to like ask somebody directly but more than that

one of the things I really realized is they also like depersonalize boundaries and they make them less personal Right? Nobody screams gatekeeping if 20 people jump onto a post on X for posting a chart or a lewd content. Right? And we're all cool with that because it's not one person saying, "Oh, you shouldn't post that." It's just look, it's in the Ten Commandments, Therefore we do it, right? Um, and I think at their best they give direction, but they always remain open to interpretation and recont recontextualization. And so that's really important as we move into

different spaces like what do the ten commandments look like in real life versus on telegram. There's going to be some things in common but we can that's what the power of them. We can recontextualize them and reinterpret. Um but that does mean constantly discussing them and renewing them and testing them and see if they're still uh we agree with them. And that's actually a good thing. So, it's okay to have some arguments and discussions about what what they mean, they're they're necessary. They're are living things, not just something that's a dead rule and not going

to be discussed again. Um, but also what I want to say, and this is where I disagree with Moss a little bit, they are not the whole culture. They are not the whole coordination layer. There are implicit norms that exist in this community right now and gaps. And if I were to say pick up one that I think was pretty contentious really, it was about payments and tips in the cognosphere for content creators. Right? So this is where I think a lot of the work is for the community is like finding better ways to understand

what we say and do and why we do them. And maybe ultimately It might evenly, god forbid it, like professor flip [ __ ] might uh come and burn me at the stake in a minute. Uh we might need a new mimemetic norm. And actually when I went through all the phrases that we say use commonly in the cognosphere, it's actually more like 30 35 phrases that we we use. So I that's another invitation. And it's like if we think there's something missing, we should discuss it and maybe we can come up with a norm

that helps depersonalize the some of these discussions that we have. Um because you know conversations and and you know the things like speaking to each other onetoone debates online they'll and our relationships they matter of course but they are slow and low bandwidth right and they often end up in more reactive conversations when we're and on contentious issues. So I think me memes are one example an artifact but making uh essays or making a video or this conference and all the talks that are being given today or even a funny meme is like a really

important and valuable thing that you can do for the community because first of all it forces some reflection in yourself and it forces you to really compress the ideas that you're trying to like really make clear uh and give clarity. Um, and even if you seeing and perhaps what I'm saying today, even if you don't um, agree with what I'm saying or what Somebody else has taken the time and maybe writing a 12-page kind of essay, it does show you that somebody really cared enough and to and thought hard enough and was passionate about it.

And that depth attracts depth basically and it gives other people the kind of foundation and what I said earlier to somebody the seeds for people to build on that's what creates culture that's what scales culture um and the best ones I I I think come up become weapons of mass on boarding um the opposite of that is just to be aware of oversimplification and generalization because I could think they can have the opposite effect. Um, and I think that's sometimes when we see some of the conversations, that's like where the people really can see when

somebody's put a lot of time and attention into something and then if somebody just like uses things very sort of uh generically or simply, it can look like it's kind of sanding off the edges of the culture. Um, so all that's to say is like none of it replaces the slow cook, but it stops every idea or lesson traveling one conversation at a time. So I think it's very important as well. Also another thing that I want to leave you with uh no PVP doesn't mean no disagreement right I've already kind of highlighted that and

even conflict right otherwise the culture becomes fake if We're not passionate and arguing about things I would be worried right so I invite everyone speak up give your opinions support things that you like push back the challenge is is sometimes and this is what one of Seb's points is like we just have to try and not take everything so personally or make it personal sometimes. So we have to check our ego like is it in service of the mission is it in service of the cognosphere and also the cognosphere can and does hold competing views

right and I would maybe even argue that it's going to have like more subcultures in time and a minority signal shouldn't be labeled as wrong maybe it's like people who want to go a different way I think as long as we can see that there's good intention they're in line with the mission and they're taking something seriously and deep or having fun with it or creatively then that's important and they may be really important later. So it's not about us achieving full consensus a transaction is validated on the the network. It's more about we're just

trying to unlock clarity. Sorry, enough clarity to unlock our action and creativity so we can keep kind of contributing in the way that I think we all do, not restrain it. Um, so after all this thinking that I did, I kind of really just started to come down to like sometimes we just need to zoom out and take ourselves personally out of things. Are good things flourishing? Are Bad things mostly kept out? Is the culture alive and growing? And is it mission aligned? And I think today speaks volumes to like tick tick tick tick. Um

and sometimes just zoom in right know that your view can be real but partial. Your experience true true for you but incomplete. And like this talk too, you know, it's just my attempt at my map really. uh just one view hopefully useful or maybe resonates with some of you but it is also necessarily incomplete right as is any what anybody else would say so look deeply into spx don't overthink it either but don't stop um acting creating participating and signaling these are all important things to keep that balance of the two processes so uh oh

where do we Go. Last slide. Okay. So, I really don't think SPX needs any more controls, rules, or structure to scale. Uh, it needs all the things that we've already been talking about today. Uh, memory, openness, trust, humility, and it's all dependent on its people. As much as I see it as an emergent thing of this thing that we call SP S spx, my invitation is make better artifacts, make better memes, make better essays, make better videos, tell better stories, create more depth. Because one of the things I realized in making this talk as well

um is overthinking about the big picture like I've just spent the last few weeks doing is actually ends up making spx in uh this generic thing right that like I don't know it will be interesting to see your feedback at this talk but it can feel a bit bland abstract detached and limited ultimately I can't express everything that spx is to everybody in this room or the whole community and if somebody tries to say something that's very opinionated like I tried to like take the middle or midway it could if you speak for the whole

community it can be very divisive. So what I kind of really realized is that it's in the niches in our individual expressions at the edges of the network that spx culture is really alive and really interesting. So take it to the limit of that expresses some part of you. Like I think it was Andy that said a while ago like you know bull part post with your heart and soul or put your heart and soul into whatever it is and express that individuality. So don't overthink it like me. Enjoy your process. Create cool things. Trust

the Cognosphere will sort everything out. Our job's not finished. Thank you very much. Thank you. Very insightful. Brings a lot to the conversation actually. Thank you. Dubbing. Um, AON, there are parts of the ecosystem that we all interact with. The the AON terminal, for instance, was built by Mike. It functions uh as a central interface, a central interface within the online part of the the Cognosphere. And it provides a set of integrated tools. So you have um a job board, you have a poll and voting system, an academy for structured knowledge sharing, a chat tool,

all kinds of tools and um that uh contribute uh to the the alignment and uh aligning activities across the network. The kind of tools that really shape how we navigate everything pretty much. um the dcaon.com that you most of you know and most of you used actually some of you used to purchase your ticket to come here on the SPX market. Those are incredible incredibly valuable contributions. It took a lot of time to build to maintain to uh improve and uh they've become part of the core infrastructure of the ecosystem. We're going to celebrate that

um for a while. Late AON isn't with us physically today, but we have his presentation. Enjoy Late Aon. Good afternoon everyone. My name is Late Aon. I'm a developer and a technommancer for the SPX6900 community. Today I'm here to give a presentation called building the foundation of the new stock market. I'm going to talk about tech, what I think the future of building for the S&P community looks like and a couple other things that we need to discuss when it comes to infrastructure for this movement. First, a little bit about who I am. I come

from a traditional software engineering background. I've been doing that for several years. It's been my career. It's been what I've studied. I've done many different kinds of applications and projects, front end, backend, full stack, um, a lot of web development. And within the past two years in my free time as a as a hobbyist, I've started to explore building for uh within decentralized communities within crypto, mostly as a freelancer. Um since about August of 2025, I have almost exclusively built for the SPX community. That's where I found myself after about 12 to 18 months of

building throughout various different projects. Uh I'll kind of get into more of that as we progress throughout the talk. Uh today I just want to say that I'm here to talk purely tech infrastructure. None of the philosophies, cultural aspects of the movement, where I think any of that could go. I'm not Here to talk about that. here to talk about building for SPX, what it's like to be a builder, some of the challenges we face, and what I think that we need to discuss when it comes to infrastructure for this movement going forward. I first

want to define a couple of aspects of the movement that we need to keep in mind as builders as we consider these um ideas and what it takes from an infrastructure standpoint to support the movement. We are building for the 90% not the 1%. And so most of the people that we aim to get involved in the movement are the average retail participant. most of which might have no crypto experience at all. Um, when it comes to valuing the movement, we don't look at things like earnings per shares, dividends, typical utility metrics that a lot

of people site when it comes to, oh, this is a good investment. Um, you should consider this or this is how we are valued. uh the valuations are different because we you know stand by the principles that this is a pure belief movement, a pure belief asset that community is the only utility that really matters. And so when it comes to defining what the movement, how we actually value the movement, uh it's a bit different than any other traditional projects that people might have partaken in in the Past. And then we deal with the usual

crypto 247 permissionless global markets that take a lot more from a technical and infrastructure standpoint to automate to make efficient for people across cultures across languages across time zones. Uh so these are a couple things that we need to take into consideration when we're building within this environment for this movement. My kind of main thesis is that every movement needs rails. Um, we've seen this historically with the foundation of the internet, the TCP IP protocol stack that enabled this uniform coordination layer, communication layer for the uh, internet to actually be able to grow. Um, global

finance needed the swift banking system. When that was when that came about, it enabled the rapid growth, collaboration, expansion of banks across the world to be able to transfer money much much quicker than it previously had. we saw within the D5 movements, DeFi summer in 2021 um is when it really started to take off the uh need for smart contract, smart contracts, pieces of code to enable things like automated market makers which would allow the movement to actually grow from a base level uh and coordinating expansion of the actual D5 Movement. Another thing I want

to mention is the Wall Street Bets subreddit in 2021 served as a coordination layer where people would go onto the mega threads every day uh during the GameStop Mania and they would be, you know, convincing each other to buy, laying out their thesis. They needed some, you know, common ground, some infrastructure to allow the movement to actually flourish and grow where people could congregate every day. Um because simply put memes without infrastructure they stay memes uh without any sort of coordination layer. And uh one thing that I think as builders we need to keep in

mind is that infrastructure we can build all the cool tech in the world but without some sort of movement without a mission or a idea for people to congregate around over an extended period of time that infrastructure won't see real user adoption. um it will kind of it will stay empty or it will fade over time as we've seen happen with many different tech projects over the years. So what changes um within this bottom up foundation we we need to start in a very slow methodical process over time. It's organic. Um the there's no boss

telling us what to build. There's no initial seed funding to to say, "Hey, we got to produce this product by this deadline. We don't have that kind of pressure. Um there's no permission required to build on top. I put a little asterisk there because that's something we are striving to get more and more towards as we navigate towards open source repositories, online collaboration, building in public, which I'll talk about all of that more future in this talk. Um but you know, validation becomes tied to real real utility. So by building in public, we need to

actually cater to the end user and they help to navigate and steer how these products, this tech that we build for SPX, how it should come out because we get this tight feedback loop of if something's not working for the people, there's they're not going to use it. And that's kind of pretty simply, we'll see that when we build in public that you need to adapt towards what the people are going to actually use. And that's where you land when you start from the bottom up grassroots approach. An example of this um is Mike. He

saw a market need for a collaboration hub and he over a long period of time built the AON terminal. Um users are only going to use it if they deem it helpful. permission, but permission barriers are pretty low because he is very good at in introducing people to collaborate um on projects like this. And so that's kind of how people see a need, they build a tool, and if people like it, they'll use it. If not, then you got to adapt and quickly pivot. Uh so I'm going to talk a little bit about coordinating at

scale. We don't have a CEO. We don't have these, you know, defined short to midterm road maps. There's no marketing department. We don't have um the usual funding sources that many many DeFi or even just general tech projects might have. Um and so these are all, you know, by design. This is what happens when you build within this environment. There are limitations that we're going to have to learn to build around to coordinate through. Um, and you know that's that's the that's the motto that's the mantra that we are decentralized by default and so we

have to know that we're not dealing with these typical situations. Um, a bit about where we see the coordination going, right? Lots of long form discussion posts, stuff like that happens on XT Twitter. You call it the public square right now. uh a lot of coordination for us developers happens on Telegram. We've created recently created a couple group chats. Um I think the next logical step that I've already started to see happen is coordinating on GitHub. Um moving towards open source repositories so that us as developers, people building for SPX can go to um the

can open source our code. That way the permission to entry the per the barrier to entry is like even even lower. It's open source. It's public. People can create poll requests. People can add their ideas. Um and I think that's the Next step that we're already seeing some progression towards. And um in the future, I don't I don't like to play these guessing games necessarily. I kind of just do my job and build. But I could see entire SPX ecosystems, applications, maybe even some IRL organizations. I don't know how that looks. We I know we've

seen some IRL stuff like the conferences and people planning these meetups. I don't know if that happens in the builder community as well, but um the key thing to take away from this is that the coordination takes time, but it is shifting. And these are what I see as the next logical progressions and what it might look like into the future. These principles are what we need to practice as developers going forward and I've talked about many of them before but these are what I have found works. Um permissionless contribution in a on terminal um

it's not perfectly permissionless yet because Mike has to allow us to build within his repositories and give us access but we're striving to get towards that. He's added tools from different projects. Um, kind of bringing together a bunch of different SPX developers into one into one project, one terminal. Um, credible neutrality. So, we need to we need to have we need to actually implement these low barriers to sign up. we actually need to open source our code bases so that people can see that we have this you know base level of trust and openness and

security that people can go to when it comes to looking at different SPX projects. I think it's very very Important that this public building by default is understood by everybody because it's going to save you a lot of headaches and you need to be open-minded and flexible from the start when you're building these products for SPX these projects. They have to be tied to real utility. And the best, easiest way to do that is by building from the get-go in public, involving feedback from others in the community right from day one so that you can

really tailor these products to be successful and beneficial to the SPX community. We see some stuff like that with AON Globe, Cogni, SPX Station. Uh, and then we need to factor in these shared cultural primitives. um the core culture of SPX has to be baked into our tech because that's what enables the culture to persist across different platforms and different ways that people engage with the SPX community. So one example of this I give um with my DCA on.com application uh dollar cost averaging is built in by default right the exclusive purpose of me building

the dollar cost averaging platform is to allow people to easily dollar cost average SPX and so that cultural primitive is baked into it by default and in in that way people know and people see that like it's so deeply ingrained this dollar cost averaging principle that it's just part of all the Projects that that we see around the ecosystem. Uh now I'm going to talk a little bit about some of the tech that we see currently just to highlight some of the projects that we've seen over time. Um I think this is just the beginning

and we've seen incredible work and I might not be covering all of them with this slide right here, but I just wanted to point out a couple of the projects that I've created with DCA on.com. It's that DCA app I just talked about. A on TV um sponsored by Dubbings API and SPX station down there in the bottom left powered by that I should say is uh kind of a large community video repo. Bunch of the goal to be one place where people can easily access a bunch of different high quality SPX videos over time.

SPX market. Um, many of you might have purchased tickets to go to the Amsterdam conference with this platform um, designed specifically catered towards ticketing for SPX conferences or events. Mike built the AON terminal I've talked about. He's also built the AON builder. He's coming out with the SPX magazine. Uh, Ilia has done incredible work on the AON globe. Um, Jezel has built the passive AON platform kind of gamified onboarding is really cool. I know ECB is not um doing the project actively anymore, but he built the real AON platform um trying to chain together different

videos of AON to show kind of that IRL um you know virality that People can build off of. Uh and then Chiron with his great uh Cogni Cognosphere Murverse platform he's built. It's incredible. Dive deep into it. These are just some of the tech projects that we've seen. I think they're going to become increasingly more sophisticated. There's going to be many, many more builders enter into the ecosystem. But these are some of the foundational ones that we've seen over the past um at least my time being here for the past seven, eight months. Some numbers

uh just to give you an idea that there's sort of real utilization. I'm pulling these from my own platforms. We've sold 69 tickets for I think a total of like 4,700 tokens. Um, for the Amsterdam conference, there's been 158 users sign up for my platform. There's been over 7,300 tokens acquired through the DCA application over the past couple months. Uh, and we currently host over 2500 videos on the AON TV platform powered by Dubbings API. Couple different problems or things I want to point out um, that we've dealt with as builders in the past. And

I think we're working towards doing better at in the future. Um there's a lot of one-man shows, you know, somebody has an idea. Um with the advent of these AI powered coding tools, then making turning your idea into an actual product is pretty easy nowadays. Um, so we've seen a lot of oneman shows and that kind of leads to um different tech stacks, private first building, um, no coordination and I think that we need to and we already are starting to coordinate and collaborate as builders a Bit more to help um, provide a more unified

experience for people getting involved into SPX, practicing good principles, building in public, and um, basically making it so that people in SPX don't have to bounce around to 69 different applications just to see 69 different uses or tools or whatever. Um, so there are some downsides that we've seen in the past and we're working towards solving these in the future. Uh, a couple broader tech issues. This is mostly for my builders that I want to point out. Um, we want to onboard newcomers without diluting the culture. Um, we've seen a lot of software products over

the past few years become more and more about revenues and subscription services. Um, and so we have to keep in mind and and and myself included, how can we build these products while maintaining the culture but also making it as quote unquote normie friendly as we uh possibly can. Um, this is a new domain. we're dealing with different languages, skills, time zones across the world. Um, many of us probably haven't built within this environment. Um, and so that's just something to keep in mind that it might not necessarily always be easy or straightforward. And then

there's a inherent lack of incentives that come from this outside of um you buy tokens, you hope that your contributions lead towards an increased value of those tokens. um because we don't have that CEO because nobody's telling us to do this. We're all kind of doing this out of our own choice, right? And there's been an incredible tipping culture within the SPX community that has allowed many projects to flourish over over the past several months. But you have to understand that that's not always going to be the case. You can't guarantee that. Um, and so

the building has to come from a place of wanting to better the SPX community first and then over time you'll see real value come as you expand your products, your networks, whatever it may be. Um, I kind of talked about a lot of these things. I think that a lot of people are going to start to want to build for SPX once they see that the community and once they realize that having that strong community base first is extremely important to getting real users to use your products or your tech. I think people will understand

that the strong movement in SPX. It will allow for um amazing products to be built. You have really dedicated community members. Um, we're going to see a lot of tech people that aren't prior developers. They will start to become the new technommancers because they're going to be able to use these AI tools to quickly iterate on their ideas and they're going to want to do that to better the movement that they're so, you know, confidently a part of. Um, and then I think something akin to the Ethereum Foundation comes alive. I use that term loosely.

Um, I want to say SPX Foundation, but I don't like that term, nor do I think we'll end up being called That. But I think we're going to see some sort of organization or foundation come about where the funding is based off community multi-IGs, tipping cultures, donations for large holders. Um, and we're going to start to see more and more builders come aboard this whatever this organization looks like. Um, we might see subsp specialties start to form as people look into different areas of tech that they can specialize in. Uh, we're going to see increased

training platforms be built, conferences, uh, and then this is mostly going to be operated through rough community consensus. Uh, but we'll see GitHub organizations and all this um, become a major way of collaboration amongst the XPX tech community. how to plug in uh connect with me on GitHub. You see right there, DM Mike, myself, or any of the other aons that have been mentioned throughout this. And then just start by building. Iterate on your ideas. Um can nobody you don't need permission to do any of this. You have something that you want to build, try

out, then do it. Do it in public. Get people involved and um get good feedback from the very beginning. So, thank you for listening to my talk. I look forward to meeting all of you at some point in the future. Lee on. You're probably watching this right now. Thank you ever so much for everything you've been doing. We're really grateful. We're lucky to have you, man. Aons, you do have five gift cards waiting for each and every one of you at The entrance of the building. And there are still plenty of artworks waiting to be

bought. Do you know when you can do that? Right now, because we're taking 15 minutes. So, see you back here in 15 minutes. Yeah. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that. Keep me in the matrix too many outside. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still ain't

getting it like a perfectionist, but I got crap pen [ __ ] Pull a saber out from underground. I'll sp my bravery is multiplied. Let me tie my face up your shoulder so your life is what you need is world spreading love even when it's cold as ice won't ever make it big if you don't ever learn to roll the dice get it out the park I swear 999 everything up on the line I won't resign my school not a crack in the I aiming for the roof if I want it I affirm it I

have faith that I'm the proof I broadcast my spellers are confused back up when I fell there's no way that I could lose I don't want to sound like that was overused can't keep me in Matrix telling me too many things Going out east. If they're writing, they're deleting it. I write the same songs to but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarrassed like I got roasted by comedians. I don't need a sign. I just need to follow the light. I don't fall behind.

No need to turn around. Make it mine. I'm chilling in the booth every single night. But love in the sky. It's infinite. There's no end in sight. While I'm ashing big blends and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say body in my world and let the music in the I aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I spell now. There's no way that I could lose. I don't

want to sound like that because I won't ever call the truth. North, east, west, south. You'll see me on the news. Yeah. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spellers are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that. They keep me in the matrix and they leave too many clues going out in a place I won't ever call the truth. North, east, west, south feeling so elegant. Stay

in my zone and I'm still perfecting it. Thought I was a joke while I still ain't getting it like a perfectionist, but I got crap penmanship out from underground. I'll sp see you later. I can't stick around. I'll never shed a tear. My bravery is multipl but your life is what you need is world spreading love even when it's cold as ice won't ever make it big if you don't ever learn to roll the dice get it out the park I swear 999 everything up on the line I won't resign my school not the club

a crack in the permanent I ain't aiming for the roof if I want it I affirm it I have faith that I'm the proof I broadcast my spellers are confused back up when I fell there's no way that I could lose I don't want to sound like that Cuz overused can't keep me in the matrix too many. If they're writing, they're deleting it. I write the same songs, but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarrassed like they got roasted by comedians. I don't need

a sign. I just need to follow the light. I don't fall behind. Day by day. Make it mine. I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say body in my dreams. I see the world and let the music crack in the Iim. If I want it, I affirm it. I have faith that I'm the proof.

I spell them Back when I lose. I don't want to sound like that because me in the matrix too many clues going out in a place I won't ever east Yeah. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I spell now back up when I fell. There's no way that I could lose. I don't want to sound like that cuz overused me in the matrix too many clues going out in a place that you'll see me on the dentist outside feeling so elegant. Stay

in my zone and I'm still perfecting it. Thought I was a joke while I still ain't like a perfectionist but I got crap penmanship. Pulling saber out from underground right here. See you later. I can't stick around. I'll never shed a tear. My bravery is multip but your life is what you need spreading love even when it's cold as ice won't ever make it big if you don't ever learn to roll the dice get it out the park I sw99 everything up on the line I won't resign my school not the crack in the permanent

I ain't aiming for the roof if I want it I affirm it I have faith I'm the proof I broadcast my spellers are confused back up when I fose I don't want to sound like that Cuz keep me in the matrix. They leave too many clues going out in a place. North, east, west, south. But you'll see me. If they're writing, they're deleting it. I write the same songs, but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarrassed like they got roasted by comedians. I don't

need a sign, I just need to follow the light. I don't fall behind by make it mine. I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say body in my world and let the music crack in the furnament. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the

proof. I broadcast my spellers are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that. Going out north, east, west, south. But you'll see me on the news. Yeah, I cried in the I aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spellers are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that cuz that is overused. Keep me in the matrix and

they leave too many east west that you'll see me outside and I'm feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still ain't getting it like a perfectionist but I got crap penmanship out from underground right here. See you later. I can't stick around. I'll never shed a tear. My bravery is multiplied. Every time I face appear so wind, but your life is what you need world spreading love. Even when it's cold, this ice won't ever make it big if you don't ever learn to roll

the dice. Hit it out the park. I swear 999 everything up on the line. I won't resign my school, not a crack in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because me in the matrix and I leave too many clues going out in a place that you'll see me on this approve if they're

writing they're deleting it. I write the same songs but there's no use in repeating it feeling like I'm limitless I want it. It's immediate. They hating they embarrassed like they got roasted by comedians. I don't need a sign. I just need to follow the light. I don't fall behind by make it mine. And I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and

didn't even have the time to say body in my dreams. I see the world and let the music. I ain't aiming for the roof. If I want it, I affirm it. I have faith. I'm the proof. I spell them Back when I lose. I don't want to sound like that cuz I leave too many clues. Going out north, east, west, south, [ __ ] you'll see me. Yeah. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spellers are confused. Got back up

when I fell. There's no way that I could lose. I don't want to sound like that cuz in the matrix they leave too many east west but you'll see me outside feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still am like a perfectionist but I got crap penmanship. Pull a saber out from underground right here. See you later. I can't stick around. I'll never shed a tear. My bravery is multiplied. Every time I face a fear so but your life is what you need spreading

love even when it's cold as ice will ever make it big if you don't ever learn to roll the dice. Get it out the park. I score 999 everything up on the line. I won't resign my school not a crack in the preminent. I ain't aiming for the if I want it. I affirm it. I have faith that I'm the proof. I spell now back up when I fose. I don't want to sound like that cuz that was overused. They keep me in the matrix too many clues going out in a place I won't ever

call the truth. North, east, west, south. If they're writing, they're deleting it. I write the same songs to but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarrassed like they got roasted by comedians. I don't need a sign. I just need to call the light. I don't fall behind by make it mine. I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne. Remember all them days in the cut.

I was barely getting paid. Things were tough and didn't even have the time to say the body in my dreams. I see the world and let the music in the I aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I spell them back when I lose. I don't want to sound like that overused me in the matrix too many east west. Yeah, I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them

haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because that is overused. Can't keep me in the matrix and they leave too many clues. Going out in a place I won't ever call the truth. North, east, west, south. You'll see me all the outside and I'm feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still ain't getting it like a perfectionist but I got crap penmanship. Pull a saber out from underground. I'll

split it first right here. See you later. I can't stick around. I'll never shed a tear. My bravery is multiplied. Every time I face a fear so but your life is what you need to swirl. Spreading love. Even when it's cold as ice won't ever make it big if you don't ever learn to roll the dice. Get it out the park. I swear 999 everything up on the line. I won't resign my school, not the clown. A crack in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have

faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because meat too many. I write the same songs to but there's no use in repeating it. Feeling like I'm limitless. I want it. It's immediate. They hating. They embarassed like they got roasted to my life. I don't fall behind by it. I'm chilling in the night in the sky. There's no end. While I'm ashing champagne all days in the cut, I was barely

getting paid. Things were tough and didn't even have the time to say my music. I aim for the roof. If I want it, I have the proof. I broadcast my spell. Nowus, West, south, you'll see me. dance in the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell now when I fell. I don't want to sound like me in the matrix and they leave too many clues going out in a place. North, east, west, south. Stay in my zone and I'm still perfecting it. Thought I

was a joke while I still like a perfectionist, but I got crap penmanship. Pull the saber out from underground. I'll spread it first right here. See you later. I can't stick around. I'll never shed a tear. My bravery is multiplied. Every time I face a solar pin, but your life is what you need is world. Spreading love. Even when it's cold as ice, won't ever make it big if you don't ever learn to roll the dice. Get it out the park. I swear 999. Everything up on the line. I won't resign my school. Not a

crack in the I aiming for the roof. If I want it, I affirm it. I have faith. I'm the proof. I broadcast my spell. Now them haters are confused. got back up when I felt there's no way that I could lose. I don't want to sound like that. They keep me in the matrix. They leave too many clues going out in a place. North, east, west, south. But you'll see me on this. If they're writing, they're deleting it. I write the same songs to, but there's no use in repeating it. Feeling like I'm limitless. I

want it. It's immediate. They hating. They embarrassed like they got roasted by comedians. I don't need a sign. I just need to follow the light. I don't fall behind day by day. No inter make it mine. I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blends and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say in my face. I ain't aiming for the roof. If I

want it, I faith that I'm the proof. I spell them back when I fell. There's no way that I could lose. I don't want to sound like that because that is overused. Keep me in the matrix too many. North, east, west, south. But you'll see me on the news. Yeah, I crack in the permanent. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I spell nowers are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound

like that was overused. Can't keep me in the matrix. Too many clues. Going out in a place, east, west, south, you'll see me outside. I'm feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still ain't getting it. Like a perfectionist, but I got crap penmanship. Pull a saber out from underground. I'll sped a tear. My bravery is multiplied. Every time I face a fear, solder, so win. But your life is what you need. A serious world spreading love. Even when it's cold, this ice won't ever

make it big if you don't ever learn to roll the dice. Get it out the park. I swear 999 everything up on the line. I won't resign my school, not the club. I crack in the I aiming for the loop. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spellers are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that because me in the matrix and I leave too many clues going out in a place I won't

ever call the truth east but you'll see me all the proof if they're writing they're deleting it I write the same songs to but there's no use in repeating it feeling like I'm limitless I want it it's immediate they hating they embarrassed like they got roasted by comedians I don't need a sign I just need to follow the I don't fall behind day by day make it mine I'm chilling in the booth every single night. Put love in the sky. It's infinite. There's no end in sight. While I'm ashing big blunts and popping champagne, remember

all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say body in my dreams. I see the world and let the music crack in the aim for the roof. If I want it, I affirm it. I have the proof. I spell them back when I Lose. I don't want to sound like that because me in the matrix they leave too many clues going out in a place I won't ever East, west, south. You'll see me all the Yeah, I cried in the I aiming for

the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spell. Now them haters are confused. Got back up when I fell. There's no way that I could lose. I don't want to sound like that cuz that voice is overused. Keep me in the matrix and they leave too many east, west, south. You'll see me on the outside and now I'm feeling so elegant. Stay in my zone and I'm still perfecting it. Thought I was a joke while I still ain't like a perfectionist, but I got crap

penmanship. Pull a saber out from underground. I'll sped a tear. My bravery is multiplied. Every time I face a fear so but your life is what you need world spreading love even when it's cold as ice won't ever make it big if you don't ever learn to roll the dice hit it out the park I sw99 everything up on the line I won't resign my school not a crack in the permanent I ain't aiming for the roof if I want it I affirm it I have faith that I'm the proof I broadcast my spellers are

confused back up what I felt there's no way that I could lose I don't want to sound like that was overused can't keep me in the matrix too many going out in a place I won't ever call the truth east west that you'll see me all the writing they're deleting it I write the Same songs too but there's no use in repeating it feeling like I'm limitless I want it it's immediate they hating they embarrassed like I got roasted by comedians I don't need a sign I just need to follow the light I don't fall

behind by day make it mine I'm chilling in the booth every single night love in the sky it's infinite there's no end in sight while Ashing big blends and popping champagne. Remember all them days in the cut. I was barely getting paid. Things were tough and didn't even have the time to say a body in my world and let the music crack in the furnament. I ain't aiming for the roof. If I want it, I affirm it. I have faith that I'm the proof. I broadcast my spellers are confused. Got back up when I fell.

There's no way that I could lose. I don't want to sound like that. North, east, west, south. But you'll see meons. What you are about to see, Aons, is a look back, a reading of the history of SPX, the work that went into it, the writing, the directing, the animation, the post-p production was All carried by one person, STPC. Enjoy. 7,000 on the S&P 500. The S&P 500. S&P 500. The S&P 500. $58 trillion. It's what every financial adviser calls the core of American wealth. From retirement accounts to institutional power, this is the benchmark everyone

is told to believe in. And for decades, this was always the safest bet. Buy the index fund over years and years and trust that the market always goes up eventually. But then in August 2023, during one of crypto's darkest times, an unknown creator launched a digital asset to defy the system and open a different path forward. This is the story of the most ambitious asset to exist. The 2023 crypto winter had frozen everything. Bitcoin had crashed from its highs. Major crypto companies collapsed. Teraluna, FTX, Celsius, wiping out billions from the market and its participants. A

generation of young people were watching their financial futures slip further away with each passing month. But crypto wasn't the only thing that felt broken. House prices had never been further from wages. Inflation was rampant. The traditional path to wealth seemed increasingly closed off. Meanwhile, in the crypto trading world, thousands were trapped in a cycle. Trading, gambling, chasing the next big thing, extracting value, and moving on. Trust nothing. Believe in nothing. The only rule in the ecosystem was survival. All of this combined made the economy feel impossible to beat. And into this wasteland on August 16th,

2023, a token appeared, SPX 6900 created on the Ethereum blockchain fairly with no one getting an unfair advantage. No early insiders, no venture capital firms, no hidden tracks. 93% available to the public immediately. The rest burned, destroyed forever, and the funds backing the project locked for 69 years. No one could shut it down. The aesthetic was chaotic and the message was simple. Mock the establishment. 6900 beats 500. Flip the stock market. The developer's vision was minimal. A 36-second video. That was it. It was absurd. And yet, people showed up. Within days, something emerged. People weren't

here to trade. They were having fun. Members started sending direct messages to strangers to spread the word. Full organic growth. And within two weeks, the developer burned 6.9% of their holdings, hundreds of thousands of dollars, and locked the project's foundation for 69 years, making it impossible to shut down. August 21st, a community member named Idea Hazard started hosting daily Twitter spaces, live audio conversations. He called them volleyball practice. The format was simple. 3 seconds of market recap, then never talk about price again. It was a rule. A no chart culture was born. No obsessing over

the price getting up and down. This decision separated the token from others. The goal was not the price anymore. It aimed to go beyond. August 28th, 2023, 12 days after launch. On this day, the developer deleted everything. The Twitter account, the community chat on Telegram, every trace gone. For most projects, this would be the end. But that night, Idea Hazard started a space, and the community made a choice. Sacrificing sleep, they rebuilt everything in one night. New website, new Twitter account, Telegram recovered. Idea Hazard delegated tasks. The community executed. By morning, SPX6900 had transformed. There

was no leader now, no road map, just a group of strangers who'd chosen to believe in something together. They called it CTO day, community takeover, a new beginning. But this time there was no leader. CTO became the meta. Other projects started copying the model, but SPX6900 had done it first, and they'd done it for real. The joke was still funny, but these efforts showed that it was becoming something else. October 3rd, a community member named Bapil sent a direct message. Stop trading and believe in something. A well-known personality in the space named Peach shared it

publicly. The phrase went viral within SPX6900, not just because it was new. The community had been living this way already. But because Bapol had Articulated what everyone felt in just a sentence, stop gambling. Stop chasing. Believe in something. Build something. November 15th, 2023. During a regular volleyball practice space, Idea Hazard made an announcement. Project Eon, a secret the community had been building, 3,333 NFTts, digital collectibles, a stealth drop live right then. Conceived by Denko, designed with Mana and other artists, Project Eon was more than collectibles. They incarnated a philosophy, a meaning, but the real purpose

was deeper. SPX6900 needed to evolve. It had to transcend its original identity. And Project Eon was that foundation. December 2023, members expanded beyond Ethereum to Solana, another blockchain connecting the two networks. The first meme coin ever to make the jump. No leadership team, no company bank account. The community funded it entirely. Members contributing with their own tokens, coordinating across Telegram and spaces. They do it again with base, with other chains, always communityf funded, always decentralized. That way, no one could ignore the movement. It was accessible for more people. But through late 2023, conversations in the

spaces were also shifting. The S&P 500 wasn't just an index to mock. It became something deeper, passive wealth, institutional control, influence. And the companies inside it were for the most part profiting from human suffering. Defense contractors building autonomous weapons. Pharmaceutical giants engineering addiction. Corporations strip mining attention and selling data for profit. All of it packaged into retirement funds. All of it beyond the control of the people whose money made it possible. The S&P 500 was not an innocent investment. Its foundations had moral compromises most people would never agree to make. So, SPX6900 started asking, "What

if we actually flipped it?" Not metaphorically, actually. If we harnessed the power of God, could we flip the stock market? The members doubled down. No chart culture became doctrine. Chart watching was discouraged. Technical analysis became something to mock. a rejection of short-term gambling in favor of long-term conviction. And the numbers backed it up. People who owned SPX6900 held on to it longer than any other meme coin. The community was one of belief. January 2024. The community had been building for 5 months since CTO day. The total value had climbed to $30 million. Momentum was real,

but the market got worse and the price slowly dropped to 5 million. And on January 22nd, 2024, Idea Hazard tweeted he sold his position. The person who had started the emergency space on CTO day, who'd hosted daily volleyball practices for months, gone. $5 million to 1.5 million by midFebruary. The community called it the coach candle. On the day of the coach candle, what happened was we're in this Twitter space. Um, Idea Hazard was not there at that Twitter space or wasn't vocally speaking. I can't remember if he was in the space. And all of a

sudden, we find out like someone just sold off a huge Percentage of their supply. And we realize that it's coach. It's idea hazard. The person who's just been running 150 days of consecutive spaces, the person who basically after the original developer had rubbed basically took the project under his wing. Um, we learned the importance of like eliminating the keyman risk. um you know he was kind of like a point of weakness because he was a keystone in the community. Um him being like removing himself from the project was consequential because everyone kind of looked to

him as the leader. But this time was different. They'd been through CTO day. They knew how to survive without a leader. And in the aftermath, the community made three critical decisions. One, never again would a single person hold that much power. Two, the mission had to shift. It had to be about something bigger. Flip the stock market. A meaningful mission to unite around. Three, the aesthetic had to mature. The website transformed from a chaotic website to something that looked like Bloomberg Terminal meets the Wall Street Journal. The original aesthetic gave way as a clearer identity

and long-term strategy emerged. Project Eon became the new Face. A new vision was born from the community's shared work. Driven by creativity and passion. Nicole Yamamoto, who'd become a key voice in the space by hosting them every Sunday night, said it best. It's a joke until it isn't. This event had burned away the last of the speculators. What remained was those with pure conviction. Through early 2024, the community kept building. New voices stepped up. Members took over hosting spaces, keeping weekly conversations alive. Videos were produced, articles written, memes shared. The essence of persistence. And during

that time, members grouped up and acted on their own, taking initiatives, staying decentralized. They had learned their lesson to never be dependent on one leader again. Small in real life events began. A few brave souls at ETH Denver in February, NFT New York City in April, Consensus in May. testing the waters. Each member worked relentlessly, making progress week by week. There were fundraisings to develop the community. For 7 months, SPX6900 survived in the quiet, building without attention, growing without recognition. Then came September 12th, 2024. A crypto analyst named Murad Mahammudav published his ranking of which

meme coins he believed in most. SPX6900 was number one. Murat had been in crypto since the early days. He made careers analyzing projects, predicting trends, and he'd been watching SPX6900 quietly, lurking in spaces, studying the metrics, understanding what made it different. He would call it the most decentralized, most communitydriven, most loyal holder base he'd ever seen. In his analysis, SPX6900 was beyond a meme coin. He saw it as a case study in how collective belief creates value, how a mission creates purpose. The endorsement catalyzed everything. Coinbase, Kraken, Hyperliquid, Revolute, platforms institutions actually respect, media coverage,

thousands of new holders. But Murad didn't create the movement. He just revealed what had already been built through CTO day, through the coach candle, through 16 months of refusing to quit. And this brought SPX6900's market cap from 10 million to 917 million in 6 weeks. I think one of the things that distinguishes SPX from other communities is the the the impact of the mission. The set of values on which we all align carries like uh the idea of resistance, the idea of rebellion against institutional power, centralized power, belonging carries some practical weight. It's not just

symbolic. And then came 2025. Something shifted. The validation from Murad, the exchange listings, the growing legitimacy, it gave people permission. Permission to stop hiding. Permission to go public. Permission to take this into the real world. A trend emerged. One by one, community members came out publicly, showing their real faces and names, making content, starting podcasts, recruiting people in real life, posting pictures with merchandise. Online was not the norm anymore. Many members took the movement to the streets. London. Seb hitting the streets with megaphones and mystery boxes. Introducing strangers to SPX 6900. Cities across the world.

Stickers appearing everywhere. Passers by being on boarded on sidewalks. The way SPX was spreading had evolved. And with each member joining, an exponential force was brewing. I think this is one of the the the strongest force in SPX. Everyone is doing his little work on his lane on his side and uh it's compounding and in the end it will be like um changing the world basically. December 2025, Art Basil Miami, the first official SPX6900 conference. Community members flying in from around the world. 25 people showed up, talks, panels, art, onboarding people outside the event. Spaces

never stopped. Over a year of weekly gatherings, regular purchases became a ritual, a behavior called dollar cost averaging. Buying consistently regardless of price. Members posting their daily buys, their schedules, their conviction. Onboarding everyone, family, friends, co-workers, strangers. Tools for onboarding built by volunteers. Community-funded liquidity pools expanding, fundraising initiatives coordinated in group chats, everything decentralized, everything organic. All of this because of one key belief, flipping the stock market. 2025 was the year SPX6900 stopped being just a digital phenomenon. It became physical. It became faces. It became names. It became real. So why still continue to onboard

a lot of people in SPX because it's very difficult to have access to this kind of information especially in France where people are not really on crypto Twitter. Uh I really want to help them to understand what is behind SPX. It's a social movement decentralized. So when I have onboard everyone in my close circle, I need to expand and I need to onboard strangers. And one of the best initiative I have seen in this community is the people who have the idea of making the gift card being made by Captain V or Miss Ponzi. It's

even better to give a gift card to give a tips because people it's very unique to receive a tips from a strangers when you are Bman, bartender, a taxi driver. What we are trying to do is to give love. The present. Today, May 2026, SPX6900 exists across five different cryptocurrency networks. Ethereum, Solana, Bass, SUI, BNB Chain, 230,000 holders and growing. Listed on major exchanges recognized by institutions that once would have dismissed it as noise. The work continues. Daily spaces still run. Telegram channels coordinate across time zones. Street campaigns in dozens of cities. Content being created

every day. Meetups happening. The structure remains decentralized. No CEO, no board, no central authority. And the metrics tell part of the story. Most decentralized memecoin, most committed holders in crypto refusing to sell. Organic growth across every platform. But metrics don't capture what SPX6900 really represents. This is not about technical data or some arbitrary way of defining a token. In a world where human labor feels less valuable every day, where algorithms replace workers, where Loneliness and meaningless are at all-time highs, sp6900 offers something primal. Connection, purpose, belonging. Bitcoin showed that belief could create new money. GameStop

showed that retail could coordinate against institutions. SPX6900 is the evolution. Combining Bitcoin's decentralization, GameStop's populist energy, and something new, the mission coin. A culture that says stop gambling, stop trading, believe in something, build something together. The $69 trillion target, flipping the S&P 500. It sounds insane. It probably is insane. But 16 months ago, surviving CTO day sounded insane. surviving the coach candle sounded insane. Reaching 230,000 holders sounded insane. 25 people flying to Miami for a token with no team sounded insane. And yet here we are, bigger than ever, stronger than ever. They learned something Wall

Street never understood. You can't kill something that has no leader. You can't spread fear about something built on genuine belief. You can't stop people who've chosen purpose over profit. 230,000 believers growing every day, meeting in person, building in public, taking it to the streets, creating, building, believing. The stock market hasn't been flipped yet, and the mission continues. Okay. STPC, thank you for your work. We'll be watching it again, again and again, and celebrating it and we'll be talking about it for a very long time. Actually, let's start talking about it right now with our live

panel discussion. Please welcome Jesse, Seb, and Dubbing. Uh do you mind standing? Is this on? Is that okay? Uh that was incredibly insane. Um what a beautiful piece of art. I'm I'm completely blown away by that. And um that's going to be on a lot more than just this. That's going to be somebody is going to pick that up and play that in a few years. Uh it's going to be Amazing. I'm I'm very proud to have been here for your for your movie. I was I I I actually had a tear during that movie.

It it it just shows what we've been through um to get here. Um and and sometimes when like things divine like divine chaos, it it's sent from above and it just happens and there's nothing that can stop it. And that's what reminded me of divine chaos theory. So that was beautiful. That was really I don't even know what to say. Testing. I don't think Oh, it is. Okay. Yeah. Sam, thank you so much, man. That was incredible. And I know you like to uh maybe stay more behind the scenes, but that was I think a

really good representation, man, of just how passionate and committed and belief you have, man. So, thank you so much, mate. And uh I like Jess was saying, yeah, that will be just it's an incredible piece of history we've got. So it's yeah, all those references are so important like people will be able to look back on that. Um amazing, man. T Dog's making me emotional. Your tears deserve everything that's coming out. That's what this is all about. And when you when you put your Heart into something, uh, it's the truth. So, the fact that you're

tearing up is the truth. And everybody should learn from that. I know we were supposed to talk about something else, but that was just that was too good to have a panel right off the bat. My brothers, I have a question for you. Um, the film shows this transition from online to IRL. I'd like to know in your opinion what becomes possible that wasn't before. Question. Not sure I quite understand the question. Um, but it is something that I've personally said for a little while. It's like that is the progression that you can see in

the community. It's it's as uh in as the documentary had, it's a joke until it isn't. And I think every month that goes by, we see something that has just been something in people's heads and mimemetic becoming more and more real. I don't know. I think the sky is the limit um in terms of where it can go and I don't think I don't even want to stand up here and constrain it in any way. Um but I do think that people are ready for some kind of protest movement. It's we're we're definitely overdue for

one. So maybe one of the things that let me put this out out there as an idea is that actually we will start talking less about this as a crypto token and more as a as a genuine political movement that just happens to have an underlying token that is coordinating things. That's one thing that I think is probably we're heading in the direction of I I I think I I said it in in my talk. It's it's it's a movement disguised as a mean point and you see that coming to life right now. So um

you know these things when they evolve they they they get octopus arms and you don't know what's going to come next but something will come next and that's the growth of this. It's the evolution of the like I said what I think is the most important invention from this movement is the cognosphere. Um what happens in the cognitive sphere nobody knows because it's it's evolving and uh there is no constraints to what it can be. It can be everything and it's it's pretty loud. It's um I think it's also it's it's only highlighted how impactful

the online space is with the IRL stuff. I think like all of this here then when we go back onto spaces and we're watching all the YouTube channels and and and all of the things it just means that our bonds are tighter but the online space is just it's just amplified Even more. So it I always get that feeling whenever we do meetups like after meeting you mate I was like holy crap and then we're just having a message back and forth and it's just friendship. I I think like it just solidifies the friendship that

we're already feeling and cuz I don't know for me every person that I've seen their face and doxed has meeting them here has just felt like like I know you so well. I didn't have any there was there was there was no missing and I think the IRL is just strengthening the the the the verality that we have online because online is obviously where we we swarm in such a crazy way. So the two together are we're unbeable. I'll just say one more thing. Um something that came to me this last this conference and actually

last month. There's so many things in the cognosphere right now, so many streams and so many shows and so many things to do. I urge you, like I did last month, try to go into to a show or a stream that you haven't done yet. Um, and I give a throw out the SPX FM. I I just for the first time last month got on it. Never never thought anything of it and now I'm hooked. I get on every Saturday or Sunday if it's in Australia. So, if there are things that you haven't tried yet,

do yourself a favor and and try it. It's it's us, right? We're brotherhood. We're sisterhood. It's, you know, try to go into a stream or something that you haven't done yet and it's a lot of fun because it's us. And the other thing I Will tell the people that are at home watching at some point try to get to an in real life event because to see I'm f we're already friends before we even get here but then to actually see the people and touch the people and get to meet you guys in real life

there is a magical connection that this community has that I haven't seen since the early days of Bitcoin to be honest with you. Um, so I will tell you to to really try to to get into a space or something that you've never thought to get into and to try to get to it in real life event. Even if it's a meetup. It doesn't have to be a conference, but try to meet your aons. And yeah, one small thing that I add and one of the many things that I cut out of my talk to

get it down to 20 minutes um was just that I think we are on the cusp of maybe breaking into more genuine subcultures in SPX like and I think in real life might be one of those things. Um, so I that is a trajectory that I've kind of seen recently like because I think we, you know, you can already see like the artists, the builders, the philosophers, the these kind of dimensions and I think they're going to increasingly have their own identity over time and I think that, you know, we will be unified by the

mission and and also we were talking about just how many different parts of the world will we end up with conferences or meetups. I think that's another thing that I can see Becoming. You know, maybe there'll be places in the world in the not too distant future where there is a regular monthly meetup in London or in New York or whatever. I'd love to see things like that start happening. Any other questions? Any other questions? I guess if I can touch upon your thoughts. Uh thank you. Yeah. Uh dubbing you also had some very good

points in your presentation before. I think what is going on and I completely agree with you the like new subcultures you know religion this is proof what is happening is evidence that we are evolving like the religions did. That is why there is so many forms you know you have so many variations. But the beautiful part is that it doesn't matter. It doesn't matter who is this subcultures. What matters is we are all in the same. And this is this is why the genius of the decentralized movement. Anybody can be anybody. So uh but yes

what is happening if you ask me is literal proof of our growth because every big religion big culture is making little subcultures little formations. So uh just uh yes thank you. There's also um there's been proven lately and in some studies just to throw out there centralized systems by law cannot scale. It has to be a decentralized system. Decentralized systems are the only way that you can scale. Um and that's recently been proven. Uh they talk about it on moonshots. I don't know if you ever see it with Peter Diamontes but um in order to

scale and really scale you have to be decentralized. So all eventually all centralized systems will actually fade out. We also I think like have uh like we're kind of independently in the centralization decentralization kind of centralized nodes. And as much as we we have massive power, I think we're all experiencing like the massive power that we that we all have, the massive impact, like this Twitter was going crazy yesterday for for like the whole community. I was I was reading the comments and I was getting more excited. I was like, "Oh man, I'm here. Wait,

they're talking about the thing I'm at." And I was like, "It feels that good. It feels way better." and we were all posting our things and we and I think I don't know about the rest of you guys, but I've never felt like I've had such an impact. I haven't I haven't changed. I haven't done anything different. We've all just started to recognize each other and celebrate one another. And I think that we become we have like centralized maybe centralized is the wrong word. I just wanted to tag on to what you were saying, but

we have like a a an Individual amount of responsibility that we all have because we have this massive power that we already have anyway, but when we do it in SPX that it it's felt like we don't feel it in other areas of our life. If you show up the way you do for this community, which is beautiful, if you do that in another area of your life, it's seen as maybe mundane or not appreciated. But then when we do it here in the Cognosphere, it's it's celebrated like it should be. And I think that

is wonderful. And we're what 100 nearly 150 people here and however many people uh actively engaged across all socials and they're not on the socials. But we're we're like a blip in the ocean compared to the the population of the planet. But I think our impact, how many people in the rest of the planet are feeling like they have this much agency to be able to to make change? And I think I think I've heard it from so many people on this on on this time here like what else is there? There's what else would

you do if you weren't in this Jordy? You said that earlier like where else would you go? Like literally the movement where else would you go? There's nothing else doing this. I don't think that's our own echo chamber. I genuinely think we've all been looking for for for this. Yes. Right. We've been looking for this. Go to XRP. To what? XRP. Nob. But yeah, we've been looking for this and we found it and we created it and there Yeah. Yeah. And there's millions of people who it's going to find as well who are just That's

a huge statement. That's a huge statement. XPX found you. You didn't find it. That That's a really important statement. That was it. Thank you guys. That was terrific. One question. One question, guys. More questions. We had a great first supper in Miami. I look forward to a second supper tonight. So, somebody who's from here or knows this area, coordinate some kind of dinner tonight, please. All right. The message is out. Thank you. I'm honored to be I have three mics now. Aons that was moving the environment we're in. We've seen it throughout the day, right?

It's it's chaotic. currency debasement, capital migration, AI acceleration, collapsing legacy trust. We wish these were just isolated trends, but they're not. They're converging forces. And for this next presentation, even though it's remote, we're joined by someone who's been particularly sharp at putting all of this into perspective and articulating what it means for SPX6900. Please welcome Murad. So first of all, huge pleasure to be here. Uh thank you uh to all the eons that have organized this conference. Uh absolutely amazing job. Uh the documentary that STCP has done um complete goosebumps, chills. Um Uh really excited

uh to be here today at least virtually uh and share some of my latest thoughts with you guys. So this presentation is titled wealth redistribution technology. The next 5 years will likely be the most transformative and consequential in human history. AI capabilities are accelerating every quarter. uh the time horizon of the task that they're completing is now going exponential. Uh researchers at both anthropic and open AI estimate recursive self-improvement to arrive sometime in the middle of 2028. Um I personally believe that over 80% of all white collar labor is likely to get automated in the

coming years and robotic automation of blue collar labor will promptly follow. I think um good number of people on the committee are concerned about is just the very very low level of job creation. If you if you adjust what has been the trend job creation over the past let's say 6 months if you adjust that for what we think our staff thinks is the the overstatement due to overounting effectively there's zero net job creation in the private sector. So I believe that hundreds of millions of jobs are at risk and whether this is going to

happen in 2028 or 2033 the fact of the matter is that this transformation is coming. Um in the UK for example the unemployment rate is already uh almost higher than it was during peak COVID. Um in the United States the uh job openings are already below their 2019 levels. uh unemployment rate right now is at around 4%. Um Kalshi is estimating it to be at 9% in 2030 and I believe that that forecast will increase even further uh in the coming quarters. Um we can't talk about SPX6900 without talking about wealth inequality. The Wealthiest 10%

of Americans own 93% of stocks. The top 1% own more than 50% and the bottom 50% own less than 1%. Um, there's also the massive intergenerational wealth inequality as well. The older generations enjoy compounding effects on their wealth and on their assets, while the younger generations find it harder and harder to even begin building wealth in the first place. And the more capable AI becomes, the more rapidly wealth inequality will compound. The poor will get poorer and the rich will get richer at the fastest rate ever before seen in human history. A lot of people

talk about the K-shaped economy in these theoretic terms, but it's already happening and has been happening for the past 5 to 10 years. Um, the S&P 500 continues climbing higher uh while the Main Street University of Michigan consumer uh confidence index is now lower than it was in 2008. Um same uh same with job openings. They continue climbing lower while the stock market continues climbing higher. And at the consumer spending level, you're seeing the exact same thing. Uh the top 20%, in fact the top 10% of consumers um are now the majority of uh the

entire consumer spending while the consumer spending by the bottom 80% continues um declining every year. Um and this isn't just about wealth. the income the share of the income going to the 12% has been Climbing higher and higher as well. Um you know if any of you have been in Bitcoin circles you know that something happened in 1973 which has changed everything. Um that was the year where gold standard was removed. That was also the decade where offshoring accelerated where mass migration to North America and Europe has have begun. Um, and these trends that we're

discussing, this K-shaped economy, I think, um, they will not only continue, but they will actually intensify and accelerate faster than ever before uh, in the next 5 6 years. And since the relative power of capital to labor is the highest that it has ever been already, employees right now are being squeezed to the maximum. And I think that income inequality, wealth inequality, health inequality, longevity inequality, political inequality, reproductive inequality, unemployment, all of these things are about to skyrocket. Uh AI will significantly reduce, if not outright, kill social mobility. It's going to take away human leverage

and it will forever freeze whatever place you are in the world right now or whatever place in the world you'll be at the moment of AGI's creation. Or so the thinking goes. And I don't think this is hyperbole. If anything, this is understating the issue. I think this is a logical outcome from extrapolating all of the current existing trends. Unions this time around will not work, will not fix anything. Uh if you study history between 1915 and 1955, uh the Power of unions resulted in wages actually tracking productivity growth. Uh ours stopped expanding endlessly and

companies actually had to negotiate. The middle class grew. The same amount of work today in 2026 actually went further back then. The system was forced to share the gains. This is one of the major reasons why the 1950s, the 1960s, the 1970s to some extent are remembered so fondly in the collective zeitgeist. That was before uh fiat money. That was before massive waves of offshoring. And AI accelerates all of these pressures. Higher output, tighter expectations, and lower costs. And the critical difference is that AI doesn't just speed up work. It reduces the total number of

workers needed in the first place. Um, unions only work when the labor is hard to replace, local, physical, and essential to production. And AI attacks all of these at once. Um, there's a saying, everything is wage suppression. Slavery uh was a way to expand labor supply and lower costs. Feminism in many ways a way to expand labor supply and lower costs. Offshoring and outsourcing was a way to expand labor supply and lower costs. Fiat money and inflation, they raise prices faster than wages and they lower costs for companies in real terms. Immigration and H1Bs expand

labor supply and lower costs. And the recent shift from full-time work to contract based employment once again expand labor Supply and lower costs. And you're going to see a significantly more dramatic version of all of this because soon you'll have trillions of AI agents which once again expand labor supply and lower costs. That's like having uh trillions of immigrants arrive to your country all at the same time except this time around the earth is just one giant country. And you'll also have billions of robots which also expand labor supply and lower costs. So, it's a

it's a continuation of the same story that we've seen since the 1960s, but now it's going to be accelerated at unprecedented rates. And some people say that every technological revolution creates new jobs. I am personally skeptical of this stance. AI is not like previous technologies. The industrial revolution uh replaced muscle with machines, but AI revolution replaces the mind with machines. And you have to reason from first principles rather than analogy. Electricity and the internet did not possess its own intelligence or autonomous ability to complete tasks. This time around, we're not looking at augmentation, but rather

total substitution. Tractors and electricity augmented muscle. AI replaces the mind. And I think that in most cases, tech executives and CEOs confidently proclaiming that AI will create more jobs than ever before. I think it's a form of gaslighting. So these are kind of the primary futures uh kind of the umbrella scenarios that I see happening ahead. First is human extinction at the hands of ASI. Second is AGI being under control of one corporation closed source KYC expensive human population intentionally reduced not by AGI but by humans controlling AGI for efficiency purposes. Third is AGI under

control of two to five corporations. Competitive monopolist uh competitive dynamics shift from monopolistic to igopolistic. Humans are collateral damage uh in the competition between militarized mega corporations. And finally, kind of like the desirable or the utopian future um is ASI being a commodity that is widely available to all just like the internet increasingly is today. humanity successfully executes a shift from mega corp capitalism to fully automated luxury communism. And the third in my opinion is the most likely outcome. And right now on the screen you can see kind of like my personal subjective probabilities of

which one of the scenarios the and the other way to think about it is um you can kind of think of it on on a spectrum like this, right? ASI gets created and just kills everybody. uh then you have kind of ASI gets created and is used by humans to quickly kill off 50 to 80% of the population then you have a scenario where ASI gets created and um 20 to 40% of the population slowly get killed off um then ASI gets created UBI is not given out most humans are surveiled and simply walled off

then you have a situation where extremely minimal UBI is provided once again with mass surveillance um then you have a Situation where kind of a lot of people think that's what's going to happen. Uh you're kind of like roughly given $1,000 a month once again, still with mass surveillance. Some people talk about universal high income where crudely speaking, you're being given uh due to this extreme economic growth, uh you're being given $10,000 a month once again with mass surveillance. Lastly, you have this utopian future again where um you have what's called a collective ownership model

where instead of being given a UBI, uh you actually get to own the means of production um and you live off of the dividends of the labor of robots and AI agents. Now, over the past couple of quarters, this discourse around the permanent underclass has become very common. Um, a lot of people kind of jokingly or semi- jokingly say that you have three years left to escape the permanent underclass, you have 5 years left to escape the permanent underclass. And I actually think the truth has the potential to be even darker than this. And that

if AGI is achieved or when AGI is achieved, there may not be an underclass at all. I think the discourse around this is somewhat misguided um and doesn't even begin to scratch the surface in many ways and potentially gets much darker when taken to a logical conclusion. A few years from now, your intelligence, smarts or tech skills won't matter whatsoever because you will get outco competed by AI in 99.999% of Domains. Most people today they hope to amass enough wealth prior to the moment of displacement and otherwise they will forever become part of the permanent

underclass with zero social mobility at the mercy of government distribution programs or so the thinking goes. This view in my opinion however uh misunderstands and underestimates the changing landscapes around politics, geopolitics and power. Um, it's obvious that whichever nation creates an autonomous army of AGI robots and drones first will hold a decisive advantage against armies that still depend on humans. Um, in his famous novel 1984, George Or George Orwell described a certain future future of mass surveillance and you know 40 50 years ago that used to be unrealistic because of the scale of surveillance that

was required. Um however today that scale is becoming increasingly possible and at current trends the permanent underclass will include everyone who doesn't have direct control over the most powerful AI armies. AI will not only automate all of white collar and blue collar work. It will massively automate and amplify regime stability quote unquote domestic security and war. Today the fate of the planet is largely decided through large entities like states, political parties, corporations and similar large institutions. These entities as of right now strongly depend on humans for their power. Without humans, states cannot defend themselves. Corporations

cannot staff themselves and don't have customers and political parties cannot get voters. These institutions become powerful to the extent that they can gather the support of their people and appease their people. And the worst mega structures still depend On people and their approval to some extent. AI automation increasingly changes all of this calculus. Minimum wage in the US today is 725 an hour. Unitry robots and LLM instances already cost 40 cents per hour and are getting smarter, faster, and cheaper every quarter. There will soon be no incentive to keep humans in the supply chains anymore.

For the first time in human history, corporations and institutions will be able to ignore humans entirely. As we get closer to AGI, there's a shift in incentives of the big AI labs and corporations uh as well as national superpowers. For now, they must still somewhat contend with the whims of their customers, investors, employees, citizens, and voters. This is the only way for them to continue acquiring more resources today. The term technism, however, understates the issue at hand. Even the proverbial medieval lord needed peasants to exploit the land and fight wars. As this stops being the

case, everything falls apart. Rule of law, social protections, these can all become a thing of the past. Even in the most feudalistic and hyper capitalistic periods of the past, capitalists and states still needed workers, employees, and soldiers. This mutual dependency is why the proverbial underclasses weren't completely eradicated in previous eras of history. With AI, there is simply no need for an underclass at all. consenting customers, soldiers, citizens will no longer be needed and their value will not be zero. It will actually be negative compared to the cost output calculus of AI robots. Under this scenario,

people will lose all of their collective bargaining chips and will not Be able to do anything. And kind of the forces that have kept democracy or quasi democracy that we're in right now, they'll be fully automated away. The idealistic thinking today goes that AI corporations will be nice enough towards humans. In practice, however, sustaining the needs of billions of people takes a lot of resources, land, energy, food, and more. Said resources can always be used for other things such as the competing needs of various AI corporations. And if AGI gets invented and is controlled by

a very small number of people, there will be no permanent underclass because humans simply become obsolete. This is preventable while AI cannot yet replace humans. But past that threshold, the mega structures in power will not have vested interests in humans anymore. On the contrary, they will all stand to benefit from fully replacing humans as fast as possible. And if current rates of growth are to be believed, we have somewhere between 700 and 900 days left. History is rife with examples of a disempowered marginalized class. But even calling them a class is charitable at best. um

slaves in ancient Egypt, slaves in ancient China, most of them died during the con large construction projects such as the Great Wall. Uh more recently, British Empire starving millions of Bengal in 1943. Uh tens of millions dead in the Soviet gulags. And the Nazis had a term for this, useless eaters. Um surplus humans, redundant biomass. You can think of kind of the future of humanity in these terms. Um so what is the point of discussing all of this? because at the current trajectory of where we're going, we're headed towards a technofudist dystopia at best Or

cold extinction at worst. And essentially what's happening is that um these technocapitalistic forces are allowing future AI that doesn't even exist yet to use the financial markets and current incentive structures to bootstrap itself into existence. And just a slow small side note, kind of some of my predictions about the medium-term future. I think corporations, AI labs, governments and militaries will gradually merge into one mega structure. Um, I think corporations will become far more powerful than governments, even more so than they are today. Um, I think governments will take larger stakes in the AI industrial complex

to try to remain somewhat relevant. Um, I think you will see a chification of the western world. And what that means is I think both USA and China will kiss goodbye to all forms of democracy and capitalism respectively and fully restructure themselves as giant militarized AI labs within 3 to four years. Um I wouldn't be surprised to see open source models um to either be heavily disincentivized or made outright illegal. I think GPU access and data center access will become even more tightly controlled. I think you will almost definitely see an intensification of mass of

the mass surveillance apparatus and I think that you will see a push towards a CBDC in one form of another. And so the currently the tech industry's PR machine is kind of feeding you um feeding the populace this these promises of the following like UBI you'll get $1,000 per month. Uh some people talk about UHI you'll get $10,000 per month and some people talking about a quote Unquote a collective ownership model. um you will get like these dividends from the means of production, right? Um why I think right now AI labs are still at a

point in time where they need to support and uh and cash flow from both their customers, their critics, upcoming IPOs, governments all over the world, right? But eventually that will not be the case. And I believe that future UBI is not a guarantee. Far from it. And I think we cannot rely on the future generosity of a handful of technocratic billionaires who are competing not only amongst themselves but also against China in a race towards building a machine god. Most of the current income taxes come from white collar professionals in the western world who are

actually most vulnerable to immediate AI automation. Future government revenues will have to come from corporate taxes in one form or another. But the relative power of corporations to governments will soon significantly shift even more in favor of corporations. And corporations naturally um they're strongly against having to pay UBI. And UBI also opens these kind of like these more sinister questions. Um do we even need this many people at all? Why are we paying this these people when they have nothing to do? Because we simply automated it all. And actually under a fully automated system, the

human body becomes a net negative. The technoc capitalism intentionally wants to make humans irrelevant as quickly as possible. And so this is why I believe UBI is far from guaranteed. At best, you're going to see it in very minimal very minimal sizes. Um I think game theory and incentives point towards extremely minimal or no UBI at all. And even if UBI does occur, uh UBI will be utilized in these like sinister ways. Um want to eat this week? Give us your Guns. Want to eat this week? Watch what you post online. Want to eat this

week? Take the jab and don't ask any questions. Want to eat this week? You're too old. The nurse will assist your suicide. It's the humane thing to do. And AI and robotics will completely shift the calculus of politics and power. So all kind of these enlightenment era humanist ideals will be thrown out the window. We have to accept that no one will save us but ourselves. And it's unclear if governments can even afford UBI in the first place. uh because the projections for the rate of debt growth are much faster than the projections for the

rate of GDP growth. And even if they could afford UBI, it's politically dangerous to allow so many people to exit survival mode that most people are in right now and enter quote unquote leisure mode. Hundreds of millions of people entering leisure mode would have people demanding more rights, more equality, more representation, higher UBI payments, etc. And from the institution's perspective, um there's a famous saying, idle hands are the devil's workshop. And so UBI is unattractive both from uh the corporation's point of view financially, but also unattractive from the state's point of view politically. And in

my opinion, the SPX 500 is becoming increasingly synonymous with AI. And this is only going to continue uh happening more and more. Right now, that is true to the extent of 35%. I wouldn't be surprised to see this at 70 80%. And in my opinion, the stock market in the last 20 30 years has transformed from vehicle of opportunity to vehicle Of wealth extraction. Right? Uh we all know companies or the best companies are staying private for longer. Um and the very nature of the financial system is increasingly stacked against retail investors. what used to

be a land of opportunity for retail investors in the 80s 90s even zeros right now it's um become a place where you go to use retail investors as exit liquidity essentially the medium time to IPO has gone from 5 years uh to 14 years today and if you look at the highest growth companies almost exclusively they're entirely in the private markets and by the time they do arrive to the public markets they now the public markets are so um more so used as liquidity or de-risking venues rather than sites of meaningful value creation for everybody.

And you can see this, you can see this in the data. And lately sort of these um companies that IPO, they IPO at um these extremely high valuations that almost always in their first several months and quarters uh just proceed to drift lower towards lower valuations. Uh for those of you that have seen my kind of Singapore presentations in late 2024, uh there has been this extremely similar phenomenon in the crypto markets between uh 2022 and 2024 where uh these sort of token projects would be deliberately launching at 5 to10 billion valuations and then simply

drifting in almost inevitably drifting lower in nine out of 10 cases and essentially uh the the private markets or the private crypto VCs were essentially using uh the retail markets as exit liquidity And I think increasingly something like this is is happening in the stock markets as well but at a much bigger scale right at a Global scale. And this is kind of like um my prediction or what I wouldn't be surprised to see happen in the next kind of one to two years. I think they will hype up the fact that kind of AGI

is around the corner. Um the largest private companies like seven to eight of the largest private companies in world's history are kind of set to IPO in late 2026 early 2027. I think they will use the entire system as exit liquidity. And once they've gotten as much cash on liquidity as possible, they'll proceed to crash the stock market uh directly or indirectly uh by saying that AGI is actually not close and more foundational research is needed. Uh you can't simply scale kind of existing models. Uh the stock market will crash obviously coincidentally with the global

recession. uh one to two years after this recession begins, they'll use the cash and the liquidity that they gathered in early 2027 to reby the depressed shares in the AI labs and AI related companies at global recession lows. Um and and ultimately they'll end up with an even greater percentage of the net aggregate ownership of the relevant AI labs and AI related companies than they had uh in 2026. And I think you'll see wealth inequality higher than at any point before in human history, right? Higher than 1700s, higher than 1800s, the 1920s. And if what

you'll effectively have is you'll have less than a thousand people pretty much owning everything there is to own with the rest of humanity becoming literally, physically, and metaphorically irrelevant. And I think they will use the stock market, clever timing and control of the media as a mechanism to transfer even more relative wealth and power from the poor to the Rich. And I mean this could happen in 2027 or 2029 but I think directionally speaking something like you will see something like this occur in my opinion. And so what are the problems right like that we

have summarized what are the problems that these are kind of like the top 10 problems or some of the biggest problems that people in the world especially like younger generations in the world are facing in the next 5 to 10 years um AI extinction risk at the hands of AI and even if that doesn't happen you still have AI dystopia risk at the hands of the human AI overlords um constant money printing constant supply uh money supply expansion constant inflation that's kind like turbocharging all of this uh like Moss said earlier all of these forces

are connected right um and reinforcing each other um extreme hyper financialization um S&P 500 in my opinion and kind of GDP growth at large has become the sort of a proverbial god and an object of worship um there's net zero job creation and the probability of widescale job replacements in my opinion and high unemployment is very very Okay. Um cost of living crisis, increasingly unaffordable housing, especially for those that don't already have their real estate, right? Um wealth inequality, which has been increasing for the past 50 years and in my opinion is about to skyrocket.

Fiat money, which is making it impossible to save, forcing regular people um from dentists to laborers to They have no choice but to quote unquote invest to survive, right? And I think late capitalism and the anxiety associated with it over the past couple of years especially, it's forcing you not only to invest, but it's forcing millions of people to trade and even gamble in order to survive. And the stock market and IPO listings, they're becoming a system of extraction rather than opportunity. And if you actually connect the dots between all of these forces, all of

these problems, you will realize that all of the above are being caused, being driven, being represented, being financed by, and benefit the equities market, the stock market. So what is the solution? What is our solution? It's to trigger a giant wealth redistribution phenomenon. SPX6900. It's a decentralized beliefbased asset. Um, a socioeconomic movement whose goal is to eventually flip the stock market to reach a higher market cap than the S&P 500. Its value emerges not from utility or revenues, but from collective narrative, community participation, and cultural coordination. So, this is the market cap of SPX 500

today. uh at almost $67 trillion. And that little yellow dot that you see on the right, that is the market cap of SPX6900. And the vision that we as a community have is to trigger what we call the prophecy of a stock market flipping, right? Is for SPX6900 to to reach a higher market cap than the S&P 500, right? And at first this sounds crazy, but if you actually run the numbers, it's not quite as crazy as it sounds, right? 37 trillion, if you kind of use like an approximate midpoint, it sounds crazy, but in

practice, it likely only requires several hundred billion of actual financial inflows to do it, right? And the higher the coins that are diamondhanded, the lower the percentage of coins that are actively circulating and the thinner the order books on exchanges and pools, the less actual raw dollars it will take to flip the stock market. Right? So in a way um the way to think about it is um diamond handing SPX6900 coins especially outside of centralized exchanges in cold storage effectively becomes an act of passive resistance and once again SPX 500 is becoming increasingly synonymous with

AI and in my opinion I think uh what you will see is SPX6900 will become increasingly synonymous with quote unquote human. And the way I see it is when S&P6900 succeeds in flipping the stock market, it will directionally function as a One-time 50% wealth tax on the rich. And what wealth redistribution assets are, you can also think of them as vampire attack assets. And we're actually already seen several of them. um their goal isn't to generate revenue but to simply act as coordination mechanisms and shelling points to simply redistribute and reabsorb uh value from existing

assets. BTC is already doing it to fiat and by extension bonds, treasury markets and real estate. GameStop somewhat successfully did it to about half a dozen to a dozen hedge funds that were overshorting the stock. and the S the S&P6900 movement is taking it to the whole another level and is trying to absorb uh half of the entire equities market, right? It's trying to absorb half of uh the biggest stock index in the world. And if you actually think about it, these are these are re-emergent phenomena, right? You've seen Bitcoin do this to the tune

of $2 trillion. uh you've seen GameStop do it to the tune of around $45 billion, but it was halted unfortunately. And the S&P uh 6900 in my opinion is kind of the next iteration of this, right? And as a young person, in many ways, you're almost like cornered into you're you're cornered into a space where we have no choice but to gather together as a community, create our own assets, and um use a combination of mimemetics, um social coordination, and decentralized technology for these Assets to fully absorb or partially absorb a lot of the Trafi

wealth, right? And you know, Occupy Wall Street was the beginning of a lot of these ideas, but there was no asset underneath all of this and there was no clear mission, right? I believe that having an asset that is kind of like um a coordination mechanism, an incentive mechanism is going to become um an unavoidable part of future movements, right? Um without a token and without a clear mission, you have no turbocharged incentives. GME was a slight improvement on this and that's why it managed to be a moderate success. Um there was an asset. There

was kind of a short-term mission to kind of defeat these like 6 to 12 hedge funds but ultimately it was centralized right between prime brokers, clearance houses, uh several equities exchanges and dozens of dozens of other intermediates. Um all of these are essentially bottlenecks that could be shut off at any point in time. And that's exactly what we've seen happen. And with SPX6900, uh, you have an asset, you have a longer term, much more ambitious, bigger mission and is decentralized. And I think it's a superior evolution improving on these previous attempts. So I think non-financialized

ideologies cannot compete against against financialized ideologies. Right? This is why the grand movements of the future uh greatly increase their probability of success by being tokenized and I think Spx6900 is kind of on the spear of this trend. um more microeconomically, right? I believe that AI in the next kind of two to two and a half years will make both discretionary and quant profitable trading much more difficult, right? You have less economies of scale. You uh you have less technical ability in many cases. Uh we have less compute, we have less capital, we have less

speed, we have less inside information and less regulatory advantages. So we have to be smart and we have to focus on things where humans still have an advantage for the next several years. AI is going to make trading harder. So only buy and hold becomes viable. And you will actually see even scammers and pump and dumpers will soon have no choice but to buy and hold. And you guys already know right less than 3% of people make any kind of money on pump fund. Less than 3% of people make any kind of money on forex

and per trading. Less than 3% of people make money on poly market. And this actually extends to a lot of other fields that people have been kind of uh making it quote unquote since 2015, right? uh gambling, sports betting, poker, e-commerce, forex, per prediction markets, software engineering, cyber security, design of various kinds, copyrightiting, white collar jobs, social media, blogging, only fans, whatever, whatever you can think of, right? Not only these are getting extremely competitive, rapidly saturated, but most of them are about to be hypermated by AI. So in order to Succeed, humans need to be

thinking about unique ways in which humans can win in this rapidly hyperautomated era. And so I think that community building will remain the by far the most powerful thing we can do. We have to come together as a community and become a family if we are to survive. That's what the world needs right now and is going to continue needing in the future. And instead of competing against other people in these like super PvP zero sum games, why not do the opposite and unite? We can be so much more powerful and can find so many

more synergies if we actually unite together rather than get atomized and fight one another. So what is the number one investment and valuation lesson that we've learned from crypto in the past 10 years? And you've already seen this um in Reborn's presentation is the fact that community is by far the number one driver of value, right? And if we want to build the greatest crypto asset ever, we need to build the greatest community ever. That's the most important thing. That's like the quote unquote fundamental that actually drives our success. And I believe that SPX6900 has

by far the most exciting mission of any asset in crypto. And the reason I'm obsessed with it and have been obsessed with it since early 2024 is this presence of a grand epic mission to flip the stock market, right? No other coin has this insanely ambitious target and insanely Quote unquote delusional mission. And I think that SPX6900 is a decentralized nonviolent idea, a very elegant idea which can result in these UBI like and wealth tax-like outcomes, right? And we're essentially making it happen just like Polometric said earlier, we're making it happen without kind of like

hoping and praying for uh the governments or politicians or corporations to do it in the future if they're kind enough, right? And this feels like magic to me. Uh it's almost like a form of collective manifestation and a self-fulfilling prophecy. Um for those of you who know this uh kind of like a hyperstition almost like we want to trigger a hyperstition and availability cascade and this kind of ideological premium or this passion premium that I'm sure that a lot of you guys in the room feel um it spiritually turbocharges the average holder three to four

times harder compared to an average coin. And you you can feel this extra energy, right? You can feel like the electricity in the air. And I believe I'm not the only one like this. And future people who come in contact with SPX6900 will feel the same way. And um as we're already seeing and data proves this now, I know there are a lot of people in the community that um don't want to obsess with metrics too much and I totally agree with them. Um, but a lot of people came to me in the DMs in

group chats and they said, "Look, um, right now I'm a full believer. I'm a complete believer in the flipping, but it was actually some of your metric stuff, some of your earlier data stuff that kind of got me that picked my interest in the first place. So, I'm just going to share A couple. Uh, many of you have seen this. Uh, this is the supply squeeze composite um that Mad Beck invented. And essentially, it measures how tightly the coin is being diamondhanded." And right now we already uh two years 2 and a half years in

we already have a higher score than both BTC and ETH did at the exact same age. But also um we're essentially at the same level of diamond handedness that it took them 17 years to achieve. We're already there in two and a half years. And I believe that this is actually saying something, right? the the the hippie right brain and the autistic uh left brain, they're actually showing the same thing, right? The spiritual energy, but the the blockchain data simply proves this as well. And this is actually a metric that I invented just a couple

of weeks ago. I call it the believer to trader ratio. And with these great greatest assets in crypto asset history, whenever this believer to trader ratio spiked to a certain high level, um it actually almost always preceded this great parabolic growth. Right? We've seen this before Bitcoin's 2013 parabola. We've seen this right before uh its 2015 to 2017 parabola. And we've seen this most recently just before the ETF approval. uh the the believer to trader ratio reached its highest level ever actually level of 15. Remember this number um and I think it's recently kind of

um gave a bullish signal on Bitcoin as well just a couple of weeks ago. We've seen the same thing in Ethereum, right? When it reached a level above 10, we've seen the 2017 parabola on Ethereum. When it reached again a level of 11 or 12, uh we Saw the great 2020 parabola. Then again we saw the 2021 parabola and recently in 2023 it has spiked as well and then we saw a 2024 parabola once again. Uh we saw this with Salana some of the early spikes gave you the 2021 parabola prediction months before it happened

and then the highest level on believer to trader ratio that Salana has ever reached has resulted in this massive kind of 2023 2024 boom that we've seen in Salana. Similarly in link uh powerful cult community in 2019 those early spikes they preceded the great 2019 2020 parabola uh by a year year and a half uh we've seen the same thing with near those spikes kind of preceded the parabola in 2023 right and I think this is the cleanest example uh because it's the most organic there was no supply control on doge uh compared to some

maybe you can argue that happened with some of these other coins like link near whatever ever right here uh the entirety of Doge supply it arrived gradually so you can't really you can't really this is like as pure as it gets and here you can clearly see three spikes above 15 so you have 15 believers for each trader right so those three spikes to 15 it gave you like that prediction of the of the 2017 parabola and then again when it hit 15 we saw that gigantic parabola to 90 billion the famous Doge parabola to

95 billion that we saw in 2020 2021. And There is no chart of course, so I'm not putting price on here, but um as of this morning, the S&P 6900 has reached the highest believer to trader ratio it has ever seen. It's just over 15. And remember that that that classic 15 number that predicted all of these great parabas on these previous most successful uh crypto coins in history, right? And we're we're we're starting to flirt with the 15 and the 16 level. And so far, uh this is the fastest progress of any of the

organic coins that I've checked. And it's been up only since uh S&P's creation. And I think this is telling you something like that same electric spiritual energy that a part of you feels but can't explain. The math and the data is essentially the mirror image of this. And effectively with every passing week, we have more believers and fewer traders. And this is exactly what we need. We we need to get this level uh as high as possible and that's how we win. And the higher this level is essentially the higher the percentage of the supply

that's being diamondh handed and not moving the less money it will actually take for us uh for our market cap to flip the stock market. And if AGI is two and three years away and it takes two to three years to build a foundation for a major movement, it is quite plausible that S&P6900 is very likely the ultimate opportunity. available to the world right now. In my opinion, all the trends that we can discuss, all of the sort of afflictions that that that affect us right now, inflation, AI anxiety, inequality, fears, um lack of jobs,

lack of financial opportunities, they're all pushing millions of people to trade. But Trading and gambling itself is just another trap which is about to get saturated by competition and hyperautomation by AI. The only solution is to come together into a single epic community. And I'll just leave you with sort of just a few goals, priorities, and my personal subjective advice that I would give to the community, right? I think uh and and half of this is just me speaking to myself as well, but also to the community as a whole, right? We need to stop

saying 100 billion, 200 billion. We need to aim to flip the entire stock market. Lean into the delusion. Um lean into what sounds like delusion to the outside observer. I think this kind of level of delusion it's inspiring and it's a breath of fresh air in sort of this monotony of everyday existence of algorithmic a capitalism right um I think we should completely move away from AI slop whenever we can uh no shitty content and as hype says make it memorable this is very very important we can't be like all these other forms of media

that are just machine generated right now we need everything we do we need to put our kind of heart soul and kind of human effort into it. Um, nonviolence. This is why I love SPX6900, right? It it's elegant in the sense that it's a nonviolent movement and we're voting with our money. We're voting through coordination and financial markets rather than physical violence of any kind. Um, and at the risk of sounding a little bit hyperritical, um, but we shouldn't obsess over metrics, Right? Uh, just like the 2023 OGs in the community always tell us, you

need to focus on pure belief, not metrics. If you need metrics for your belief, then you don't fully believe, right? Um, stop relying exclusively on X or Twitter. Uh, I think many of us are on X because like you get these like short-term dopamine spikes from higher than usual likes uh from like the community because most of the community is there. But if you truly care about uh SPX6900, you must expand beyond, right? YouTube, Reddit, and Facebook. And like I've been saying, uh we need to make videos. We live in a mediocracy and a higher

and higher percentage of all media in the future is going to be videos, right? And we need to reduce the supply of SPX6900 available on centralized exchanges. Right now, it's somewhere between 15 and 16%. We need to get it below 10. And the lower we get it over the coming months and quarters, the better. Take your coins off exchanges and hold them in cold storage. And we need to make this a permanent part of culture. The more this is true, uh, the more likely we are to succeed in our mission. There will be nothing left

except for community. That will be the main profession, the main career, the main activity, and the core valuable thing we have left. And SPX6900 is front running this massive transition. There's virtually nothing other than SPX6900 positioned to absorb trillions worth of value of community formation. And SPX6900 is the greatest financial opportunity of our generation. Soon people will realize there was never supposed to be uh just Bitcoin or end just with Bitcoin. We literally must birth new assets into existence. SPX6900 Is many things but in this regard it is a perfectly timed ideological successor to Occupy

Wall Street to GME and even to BTC. There will be headlines. I can promise you that. Flip the stock market. Thank you. Thank you, Murad. Thank you ever so much, Murad. Thanks for having me. Pleasure. Do we have questions for Murad? Anybody? How you feeling, Murad? How you feeling? Um, feeling bullish. Always support. Always support. Are we ever going to see Murad personally on any of the hope so hope so? Two more questions. Can you explain the uh the idea of taking coins off central exchanges so people can understand? Yeah. So right now, um, if

you combine sort of all of the supply that is on centralized exchanges, if you sum them all up together, it ends up being, um, I think like 16 point something right now. It's already lower than most coins, but you know, if we are to get uh to these like trillion dollar valuations that we are aiming for, the lower the supply on centralized exchanges, I think the more likely we are to succeed. We're actually derisking ourselves. We're derisking Ourselves from any kind of, you know, market maker shenanigans, rehypotheication shenanigans, uh, centralized exchanges having control of the

supply, etc., etc., right? So, the we essentially need to starve centralized exchanges gradually in the coming months. If any of you still hold your coins on centralized exchanges, I would strongly encourage you to uh take them off and actually hold them in cold storage where uh not only it is completely safe from all manipulations, but we can also kind of like track that data more transparently, right? Second of all is um the lower the supply on centralized exchanges um the fewer like risks we have, right? Because we we don't know what's going on because these

systems are completely closed source. they are completely untransparent and uh the more coins we give them the more power we give to these like forces right if there's three exchanges that control you know four or 5% each we we should minimize those um those clusters of supply that are controlled by effectively these like large institutions and um not only is it important for us in the audience to do this but also um we need to make we need to say this like every day we need to say this every week and all of the future

people that are going to come that aren't here yet. Um, they need to hear this all the time as well. And I think like the right sequence of steps is for people to buy on centralized exchanges but then to withdraw into cold storage. I have a question like a proper one. Well, hello. Yeah. Okay. All right. I actually have a proper question. Um, I don't know if it's true. Um, but I heard you've been involved in some uh negotiations with people who want to invest and buy SPX um on their companies on balance sheets uh

as in like a treasury mechanism. Uh well tell me you know if you've been involved in any of that but what most important is that I might approach some business owners um I have some business owners in US in Europe back in Russia and I need to understand this process a bit more in details you know what's the mechanism of actually purchasing SPX and putting it on a company's balance sheet if you know you can buy SPX on either a DEX or a X but if the country doesn't regulate crypto then how can this substance

be registered on the accounting on a balance sheet? Um I don't know if you understand the question like please comment. Yeah. Um it's a really good question. You you know I uh might not give you exactly the most precise answer because each country sort of accounting laws and crypto regulation laws are completely different. Uh obviously this has become increasingly uh accessible in the United States and in some western countries. Um we have had uh discussions regarding the treasury. I can't uh I can't kind of give you too many details because I'm under NDA uh during

a lot of these discussions but u several companies are certainly looking into this. Um I have Onboarded uh kind of several whales, several large uh individual uh kind of high net worth individuals to the community and um I've strongly recommended to them to either buy through unis swap with uh either their existing Ethereum holdings or uh after first buying uh Ethereum and then kind of accumulating slowly or uh for those kind of slightly more institutionally inclined uh some of these purchases were done first with a bank wire uh first you get kind of an institutional

account on Coinbase uh you wire kind of bank uh you do a bank wire to Coinbase and then you accumulate it that way right again uh how exactly you do it at the local country accounting level I cannot give you the best advice because that's not my area of expertise but that's something like you would have to ask kind of the local uh crypto accounting experts in each respective country okay but the fact that you've done it in the US already proves that this mechanism works pretty well, right? I mean, there's nothing sophisticatedly hard about

it. I mean, it's straightforward, right? No, just like just like companies are increasingly holding Bitcoin and Ethereum on their balance sheets, uh, they can hold SPX6900 that same way as well. Nice. That's cool. Thank you. Hey, Mered. Um, I have one question. So, it's a bit of a theoretical, but I still think it's an interesting one. So, if we're talking about trillions of dollars of value for SPX in the future, do you see any potential risks if SPX becomes More valuable than the chains that it's hosted on? Uh, that's a really great question. Um, you

know, I don't think so personally. Um, I think Ethereum is sufficiently uh decentralized as is. To be completely frank with you, I would prefer strongly that we reduced our uh supply that's currently on wormhole uh/sana/ other bridges just because of what we've seen with you know the kelp dowo incident layer zero incident uh you know a couple of like just a month ago and ultimately I think right now we have 11 to 12% on um Salana/wormhole I think just like we want to reduce our supply on centralized exchanges We want to reduce we want to

kind of move as much supply as possible from Salana from Warhole back to Ethereum as well. Uh but I'll tell you this like I'm much less worried about Ethereum than I am about uh centralized exchanges or bridges. Yeah. I guess it's just like I'm starting to think about, you know, if we become uh where we want to go, like what are the moves that the 500 might play against us in the same way that they have attacked GME and and where are maybe some of the risks that we need to think about in the future.

And I I guess yeah, I agree getting more and more tokens back onto Ethereum is definitely a safer place to be place to be than Centralized exchange or wormholes. that yeah I mean um I don't I don't want to sound too like too conspiratorial or anything but that's kind of like a small issue about regarding BTC uh the giant amounts of coins that are in the hands of ETFs uh in the hands of custodians uh massive kind of liquidity on kind of CME futures and various uh options dark pools etc right and you there are

theories regarding uh maybe some price suppression techniques maybe things like that but I before we have like a large ETF with uh gigantic percentage of supply in the hands of the ETFs. Uh before we have giant liquid options markets, that's not something that like we should be concerned at the moment. Yeah. Yo, Murad, I'm a board. Uh this is not really a question. I just wanted to say that u um my my personal experience I've been in crypto for a good part of 10 years um actually more than 10 years and I came to uh

2024 and after seeing you know BTC especially ETH and DeFi and all that and having been seeing all all the whatever happened in the private market angel investing B you know came of BC and so on I came to 2024 I was I was done with crypto you know like I had enough. I I've seen enough. I I seen the transformation of the industry what what used to be decentralization and fighting the system and and all that and seeing kind of the complete opposite and the extraction and all the BS and I Mean like it's

hard to uh it's hard to to overstate what you're you're thinking and I think for most of us that were here for sure for myself um I came to SPX and I think not not just SPX but to tokenize communities and and what's going on with memecoins because of your research, right? And I think like it's not just for myself, for many other in in the room and people are following this. Um, so I just wanted to say um just wanted to say like really thank thank you for the the work you've done and and

the work you've done m making us and making me personally understand what's going on here and and I'm now like crazy. I I think I' never been like this engaged with crypto like at like 10 years ago, right? When I discovered Bitcoin, I went completely completely crazy. Ethereum, I went completely crazy. Especially because like you know 2016 17 was crazy. But then 19 189 nobody like if you were in DeFi, you knew like what was brewing. You knew what crazy stuff we were building. Nobody knew, you know, outside, right? And not not the same here,

right? like we know what's going on. We know what's what's coming down the pipe, but like it's that that's the social arbitrage. Like nobody is realizing this and I'm I'm just I'm just crazy. I'm just pumped and super bullish and just wanted to say thank you for uh revitalizing this, man. Thank you. Any other question? Yeah. Cheers. Uh thank you Mad. Um how did you come up with the uh believer to trader ratio? What how did you create that metric? Thank you. Um so I will probably give more details in a couple of days on

Twitter but essentially uh you divide the number of people that have been holding uh S&P for over or any kind of crypto asset for over 6 months which we can uh roughly kind of define as a uh diamond hander right or as a believer and you divide it by the amount of holders or the amount of supply that's been holding for under a month or under two months right and the ratio between the uh you want it to be as high as possible because essentially the higher that ratio the less dollars it takes to really

spike uh to really like to really spike the market cap, right? Uh because essentially whatever demand is going to come into the coin in the future, the higher the BTTR ratio or the higher higher the lower the SEC whatever um the more sensitive the coin is going to be to any future dollar of demand, right? So, for example, uh if like people people roughly estimate that each dollar that comes into BTC still today moves it up by like $6, moves the market cap up by $6, right? In our case, we can get it to a

situation where each dollar that comes into the Coin is going to move the coin by $100, $200, right? And the more extreme the diamond-handedness, the more extreme the uh believer to trader ratio, the more hyper sensitive the coin is going to be. And why do I think the sensitivity is important? Because if you actually like think about it in the short term or the medium term, uh the product that crypto offers is actually volatility. And I always say I've been saying this since 2018, volatility is uh the best marketing by far, right? And like even

I joined BTC when it was at like a multi-year top, right? uh and a lot of people also join BTC or Ethereum when it was at the 2017 early 2018 top right it's always this parabola that attracts people right the parabola is the marketing and essentially the higher we squeeze the supply right the more tight we make the supply uh the less demand it will take for these like crazy like thousand% 10,000% returns locally like I'm just talking like intramon intraquarter and it's these rapid intrae intrammonth moves that get uh headlines that get people talking

that get like one person talking to their cousin that's what gets these viral effects and that's how people come in right with every crypto asset it's always the parabas or in the middle of parabola that attracts the early users and I'm sure a lot of you in the audience also join SPX in like maybe September or October 2024 and it's just proof of that Theory and essentially you want to engineer volatility um and I I believe we we do we're doing it in the most organic way possible. Awesome. Do we have any other question? Yeah.

Hi Mured. Uh as the the movement grows and flips the stock market, you are going to become more uh famous and exposed. uh do you feel ready for that for that responsibility and that kind of exposure almost like a political role in a way because this the way uh I don't remember who was saying but this may grow very well in a political movement so just wanted to hear your take on that yeah I mean I was always extremely politically agnostic uh and always try to be as apolitical uh as I could I since kind

of my younger years, it was kind of intuitive to me that politics is a very dirty game. Um, and frankly, I think even in western democracies, uh, increasingly most of politicians are just like puppets of various lobbies and corporations, etc. I much more prefer, um, believing in markets or the power of markets, uh, believing in various exits like BTC, like GME, like SPX6900. um and essentially voting with your money rather than voting with like the ballot or whatever you which to me is Just complete theater, right? So, um you asked if I'm ready. Um if

this if and when this moving succeeds, uh I'm hoping to be as as as great I'm hoping to kind of manage the situation as gracefully as I can. Morad, thank you ever so much for the presentation, for the exchange. The chat was awesome and um yeah, it's a remote presentation, but you're with us in this room. So, this is great. Thank you. And the the previous the previous presentation today uh were absolutely amazing. um Jesse Polytric Eon Reborn uh Zyaka uh dubbing we've had uh just huge huge quality of presentations earlier this afternoon and I

was kind of uh waiting with baited breath and really enjoyed um really enjoyed watching the guys present as well and thank you again for all the organizers. Uh, I think what you've you contributions uh can't be overstated and um yeah, I'm just it's it's crazy. I think it's crazy. Um just like what the documentary stated, it's crazy that we've already achieved what we've achieved so far. And I think like we're not even at like 0.1% yet. Um it's I think like this I think this is going to go viral. I think it's going to be

a huge global movement and I think we are at the precipice of something huge and just like uh just like Zyaka just like Seb said earlier like what what are you going to do right like what else is there to do like you're going to go Gamble on prediction markets or like start an only fans account selling feed pictures like this is the this is the path like this is the way we have to unite into a single community this is what blockchain was ultimately invented for is for people to create these like tornadoes these

communities um to come together and to unite and to to financialize in like the purest way possible. And I think we're on the precipice of something exponential here. And this really like reminds me of like this like Bitcoin 2012. Uh these are like the vibes that I'm getting right now. And really excited for kind of the months and the quarters and the years ahead. We love you, man. Thank you. Thank you so much. Yeah, I subscribed to that amazing presentations. We're we're really lucky and grateful too. Um, I think pretty soon we'll be recognizing new

aons with no introduction needed. You'll be running into aons in everyday life all the time. Pretty soon you'll start looking at people differently, like wondering who's part of it. And whenever something comes up like you have a practical issue, whatever that may be, you're looking for a job trying To get something done in a city you don't know, your first instinct will be to ask yourself who is the closest aon to this changing everything, Right? Cuz you'll never start from scratch again, ever through the network we're building right now. But none of that exists without

your participation, without your presence, without you willing to take responsibility for it. Which brings us back to where we started, right? You chose to be here. You showed up. You engaged. You chose to act. And whatever this becomes next, it'll be shaped by you. It'll be shaped by those who build, by those who engaged, by those who coordinate, by all those collective efforts. until we actually flip the stock market. Aons, this has been an honor to host this with you. I had a blast. Thank you ever so much for being here. Persist forever. One more

thing because there's someone I'd like to bring up who's uh you've Seen what happened all the moving parts all the coordination it required and obviously that doesn't come together on its own. There's someone who's been holding all of it together, connecting people, making sure that things move smoothly, keeping everything aligned from start to finish. And actually, most of what you've seen today simply wouldn't have happened without that work. Please give it up to T Dog. Wait. Come on. Thank you so much. Don't want to get emotional again. So yeah, first first of all, thank you

to everyone for coming to this conference because uh it's what the best you can do to uh thanks all the people who are involved in it and uh so uh thank you very much for everyone who is coming from everywhere in the world. So thank you very much. Thank you. But but at the same time I I'm really uh grateful that you give me all this love. But I have really not alone in this adventure because as soon as we started uh this uh project in December 2025 Uh people get involved since the beginning. I

mean the first Mondayan with Seb and Mike and Petra then uh we decided they decided to organize this project in Amsterdam. So as I was late uh the destination was already decided without me but finally it was an excellent idea. So it's community decision which is very cool. Um and also uh I would like to say thank you to all the speakers because everyone uh who say yes I am going to come to Amsterdam say they they show up and nobody canled they all came with a very deep uh mind deep thinker uh some have

very like professor flipper as well but um everyone has a very deep talk I would never be able to make this kind of things. So, uh, thank you to all the speakers. Thank you very much. and and all another people who would which have been very important to this organization as is most because when we started to talk about if you want to make a talk or if you want to make a a speak to the conference. He spontaneously proposed to organize all the talk to keep something very coherent with uh with the direction something

which is u Something makes sense uh all all along the day so I think it's it has been a really big success because the day has been so amazing to me so thank you very much Mos and you have been incredible job it was great And thank you very much. And and of course I would like to thanks all the French team. I mean Mike and Professor Flippar I mean Daponi and I would like to say thank you to Sam STPC because they have been a big support and without them nothing would happen as well.

So thank you. Thanks to them. Uh also all the people involved in this uh event are the locals. I mean uh Jordi, I mean Anna, I mean Jasper, I mean Petra, Petra, and all the people who have helped. Maybe I would say also Katy uh who came to make the posters in the city and uh making reservation for the boat parts for the boat tour making some uh printing printing uh for the posters. So thank you for your help because I was not there so people have to take care of it. Thank you. And um

uh and since the beginning the goal of this event has to be unite unite the the community the people from the art side I would that's why we had the idea to make the exhibition gallery exhibition we Like to have the thinker and the people are very um good to speak to the on on stage which was very very important people who are coding in the community like Leon like Mike made this website later on make the SP market so we can prove that we can organize ourself and to have our own tools to organize

us. It was said in the late Aon video. So it was really important as well. It was the the artist, the the speaker, uh the coders, the builders and so uh it has been so intense over the last five months that uh everything put putting together makes really lot of sense and I am more bullish than ever after this conference. just to make sure I didn't forget anyone and but uh uh something I would like to say also it's uh I would like to thank someone very important to me it's Alexandra my love because uh

she support me every Okay. Uh she's accepting that I put a lot of time and energy in sp6900 and without this without this uh balance I would never be able to put everything I have in this movement to help the community to grow. So thanks a lot my love. So now we can maybe make a last things for the community is maybe to have a picture all together in front of the midbalar. So to show the world that we have one unite community and to show that we are real people. And then if we want

to make something even bigger, we can move together to the stock market which is 5 minutes walk and make another picture at this place. Thank you everyone.