Exclusive Interview with TAPROOT WIZARDS Co-Founder Eric Wall | KBW2023

Bitcoin ethereum uh I do Venture investing I have a bunch of coins left back from the bull market that I never sold uh lots of crap [Music] honestly yeah so I think this year very likely actually perhaps this month will be the first time in 9 years that we may get some of those coins back and um even though that we'll get a fraction of the Bitcoin back the value of those coins now even the the small fraction the value of the fraction that I get back relative to what I lost uh is still it's it's outperformed the S&P 500 by like uh multitudes so um from a traditional Financial perspective in investing in Mount GA and losing everything is one of the it's outperforming the General market it's one of the better Investments that I've ever made in my entire life so the thing with that is that the uh we never sold any tap wizard for any amount of money all the tap Wizards that are out there were given away for free so anyone that wants a refund gets twice the amount of zero back so there is no we never charge anything for them so refunding them it's uh yeah it's since some people are complaining about the ordinal Market being down then we say you know free refunds uh so so so far no one has claimed the refund because the refund would be zero so it's more like um it's more like a joke yeah so tap rot Wizards the main uh idea behind it is reimagining Bitcoin as a data availability layer so you take Bitcoin and you just view it as a place to store your data this is what we did with the J pegs the wizard pictures but that's really just like the first iteration of what you can do there are many systems that you can build inside and on top of a blockchain by just leveraging the block space as an arbitrary uh place to to put your data and then you get the ordering and the uh hash rate backing that data with the with with that small thing you can actually get a lot out of a system so for example if you look at uh the layer two solutions on it ethereum ZK rollups and optimistic rollups they basically treat ethereum as a data availability layer they store their data there and then the execution in the computation that gives meaning to that data that creates a second layer from it uh happens at the second layer we can do the same thing with Bitcoin we can uh through the same mechanism that it invented ordinals and allowed us put to put jpegs on bitcoin uh we can build second layer Solutions on top of Bitcoin through that also ultimately the goal is to generate more fee revenue for miners everyone knows that every four years the amount of Bitcoin that miners get decrease by half if that keeps going then there's going to be less and less uh mining rewards for Miners and the Bitcoin system could start to become insecure so we need to find uh demand for the Bitcoin block space uh Tapo Wizards is a project that tries to help that situation basically by finding more Innovative and fun user cases and things to do with the Bitcoin block space