Bitcoin is Cybernetic Life | The Saylor Series | Episode 13 (WiM053)

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needs hey guys welcome back to the what

is money show

i am thrilled to be sitting down

with mr michael saylor again today

and

i believe we're gonna jump in first

uh into the bitcoin mining network and

proof of work which is this

unique security model that secures

bitcoin

and distinguishes it from

many other forms of money although it

does

draw and

uh draws parallels to to what gold

represented historically but in a new

form

so

where should we start michael

you know

bitcoin is its own self-contained

monetary system and

and the bitcoin system is replacing the

fiat system

so i think a good place to start is

exploring

the way that we did everything in the

20th century with the fiat system and

comparing the implications when you

switch to the bitcoin system

in essence what's the difference between

an analog monetary system and a digital

monetary system

and uh i i find it helpful

to try to to try to model the two so

if i'm if someone said to me so what is

bitcoin doing

well

bitcoin is dematerializing

the accountants the auditors

the compliance function

the information technology function the

human resources function all the

security function the facilities

function the police force the military

the function of war and the function of

politics all of those things

are

dematerializing and they're collapsing

into the bitcoin network

and that's

and so on one side the 20th century

if you want to do something you operate

a business

if you operate a business like i'm a

publicly traded business i need

accountants

and every three months

we close our books

every three months the the gold standard

of business operations

is you close your books quarterly and

the and you have finance people and

accountants that do the book close

and i've been a public company officer

for like 22 years so i've i've done 88

quarterly closes actually more than that

well bitcoin uh closes the books every

10 minutes

right

so you you've got an accounting function

but instead of a quarterly close every

10 minute close

so then you've got this

this other issue which is in my in the

in my world the public company world

after you close the books you have

auditors

and so the auditors look at the books to

verify that they've been properly closed

and they sign off on your quarterly

results

and then there's a 10k where they sign

off on on the books at the end of the

year

the audit process is manual and

expensive in the fiat world

and the bitcoin world you've you've kind

of got triple entry bookkeeping not

double entry but triple entry because

the books get burned cryptographically

and they're they're they're truly closed

they're closed with with a cryptographic

or an encryption

whereas uh the books of a publicly

traded company or a private company

with a public company they're kind of

open and then they sort of close with

the private company they never quite

close you can never be sure

and you've got manual accounts a manual

auditors

and so those two functions matter a lot

but then the third function if you look

at like a conventional bank or any kind

of

yeah any kind of fiat bank is you've got

a compliance function

and the compliance function is to make

sure that you didn't enter into any

transactions which are

illegal or

non-compliant or not permissible and

you can't enter into any

inappropriate transaction

that compliance sometimes comes after

the transactions are entered into

you see uh with like arc archagos where

you know you had ubs write off billions

and billions of dollars

well they entered into some

non-compliant transactions where they

took risks they shouldn't take

and they found out after the fact and

the cost was billions of dollars to

their shareholders

well bitcoin solves that compliance

issue

um

with the nodes

that are verifying transactions is

compliant and you know you've got like

six verifications before you're sure

it's pretty compliant

on the first verification it's sort of

compliant

but the compliance in bitcoin comes from

the the process of mining plus the nodes

themself

where and it's 100 percent

what is it like 99.9999999

certain after like the six

confirmations

so you get an automated process

which is distributed which is almost inc

incorruptible

whereas compliance in the fiat banking

world is a manual process and you're not

even checking compliance of every

transaction

right right and bitcoin you got 100

compliance by the time you get six

verifications down which is 60 minutes

well you could be six months after

closing the quarter in a publicly traded

company or in a bank

think about like a you know our credit

card company

you know your mastercard or your visa

and you're doing all these transactions

what percentage of them are 100

compliant and win

in fact you could be six months after

the quarter closes

and you would still have lots and lots

of non-compliant transactions they

passed through the system right and

that's that's fraud

and and the economy pays the price on

that

you go to the next level right i.t

a bank or a money transfer agent in the

fiat world has a big it department and a

bunch of data centers

whereas in the bitcoin world the miners

and the nodes that is the it

infrastructure so

it's completely decentralized and

self-maintaining and self-healing

and it's continually upgrading itself to

the process of mining whereas the banks

they have to have an i.t department and

an i.t budget and they have to

continually invest in this or they

become

obsolete

well so the fiat bank also has human

resources department

you have to hire people you know to to

order the equipment to configure the

equipment to upgrade the equipment to do

the compliance to do the accounting to

do the the transactions well you know

bitcoin doesn't have a human resources

department

right because there are no employees

you've you've kind of de-materialized it

why is that interesting

if there's no human resources department

there's nobody

to quit

right there's no one to fire

there's no one to complain there's no

one to harass

because there isn't a human resources

department at all

so you can see we

we have we have taken all of these human

factors and we have dematerialized them

into the protocol

and and the decentralized hardware

which is continually being upgraded

unless it isn't

right and if it isn't upgraded if you're

running a node and you don't upgrade you

fall out of consensus and you just get

slopped off the network and if you're a

miner and you're you're running on four

generational mining equipment

then you become a hundred times more

inefficient

and then you can't mine any bitcoin and

you get pushed off the network

and if you

if you're running a miner and you don't

pay your electricity bill

you get pushed off the network you know

so the network is self-healing

self-sealing

self-upgrading in the bitcoin world

whereas in the fiat banking world

it requires human intervention to do all

these things

right oh

complicated we're doing it what's the

next step while security

in a real bank i've got to have security

professionals i've got all sorts of i.t

security physical security people with

guns

people hiring and training the people

with guns

etc and i've got to worry about someone

hacking into that security system

as long as there's someone responsible

then you have to worry about that person

but in bitcoin the security is intrinsic

to the network

it's uh it's basically built into the

protocol

it's getting it's making itself more

secure

and then we get to facilities the the

fiat bank

has to go and have a facility in the

middle of new york city and they've got

a landlord and they've got a lease

and they're paying money

and they're paying taxes on the facility

the facility in bitcoin

in essence

becomes the mining

rigs wherever they might be

or the nodes

and so

so

you've got a much simpler facilities

model

in order to make fiat banking work you

have to have a police force

because the next layer is um

is physical or civil security and that's

provided by a police force

and um

if you have a billion dollars in new

york city

then

you need or a bank with a billion

dollars then you need a police force in

new york city to keep you from getting

mugged

but if you have a billion dollars in

bitcoin and you're in new york city

you don't rely upon the police force

nor

does anybody know you have it but if

they did have it

the security for new york city comes

from a bitcoin miner in iceland

and so security is not co-located

with the asset

in the bitcoin system

uh in fact and security is not uh is not

related or

that the word would be security doesn't

scale or it doesn't uh it doesn't

increase

with the number of nodes of asset or the

velocity of the asset

in the bitcoin system in the fiat system

security becomes a big problem

because

maybe you have a billion dollars and you

feel safe in new york but when you go to

brazil you don't

right or you go to fill in the blank

whichever place it is that you don't

feel secure in

at some point

you're you're you're required to rely

upon

the police protection as you cross

jurisdictions

and that makes security heterogeneous

and manual and expensive and with

bitcoin you have the same security on a

cruise ship in the middle atlantic as

you have in in a vault at the in the

basement of jp morgan in manhattan as

you have on an airplane

and even if you're sitting you know on a

sailing boat in the caribbean

and that three people have guns to your

head

you've still got the bitcoin miner in

iceland securing your asset right

and it's a negotiation the bitcoin is

quite secure

it's more secure than you are you you

know you have a physical security issue

but your financial security

is uh is the highest degree that anybody

in the human race has ever had before i

think this is a great point that the

asset and security

are

disentangled or separate

um because it's a huge benefit to

bitcoin is it actually has kind of this

non-locality property

where especially if you've properly

custodied it you know even if you've got

the three guns to your head in the

middle of the atlantic if it's in a

multi-sig done properly

you're not going to lose custody of that

asset and even if they take you out

you know in theory you have a

inheritance or succession model behind

that such the asset rolls on to your

heirs or whatever you determine

you can't really do that with anything

else um

at least in a bearer asset form you

always end up trusting some

intermediary

uh to carry out your will so that's

that's something that makes bitcoin very

unique

i it

bitcoin is the apex property and it's

and it's the highest form of property

rights

it really is

it's the only thing you can take with

you to the grave

you know and i joked about it you know i

was i was online going back and forth

with peter schiff the other day

you know and he's saying why would

anybody ever want to have something for

a hundred years you'll all be dead by

then

and i said well you can take it with you

to the grave you know and and he's like

well you take gold to the grave and i

posted

uh an article on on ancient egyptian

burial tombs

and if you go back and you do just even

a few seconds of history

and and do a few uh a few minutes of

research you know that for the last five

thousand years people have been trying

to figure out how to bury gold with them

they've all failed right 2005 years ago

or 2500 years ago the egyptians created

pyramids and hidden tombs they still had

the tomb robbers people would break into

the pyramids and the only reason that

the king tut

had a treasure that lasted into the 20th

century was it was because it was buried

by a sandstorm and people didn't know it

existed

his tomb it was lost but every other

protected um

tomb with a treasure in it was raided

yes and looted yeah

and if you give it if you pause and

think about it a bit and if you're

really serious and thoughtful

what you realize is there is no form of

property that you can have custody of

why you're alive and after you're dead

and there's no form of property that

respects your wishes after you're dead

other than

bitcoin

and bitcoin and the significance of that

is not you need the money when you're

dead that's not the point the point is

much deeper than that

the point is should you wish

you know for something to carry on if if

you want a park watered for a hundred

years after your death you have a method

to ensure that takes place

you know and

if i hold a gun to your head and i say

give me all your property or i will

shoot you

with all other forms of property if you

say no i shoot you when i get it anyway

so the game theory says i should just go

ahead and kill you and take your

property

but with bitcoin

the game theory says if i shoot you i

get none of it

because you go to the death the grave

with your keys

so with bitcoin the game theory says i

should ask for half

right and and it turns out that

throughout human history

[Music]

people have always struggled against

governments

you know and onerous you know onerous

groups be it a a monopoly or the like

but in nearly all of those cases if they

got half they would have turned out okay

right

like

normally

if if they kept half you know you don't

like taxes but if you kept half of your

stuff

you would still be okay the problem with

taxes is they take all of it over the

course of some period of time right and

you've got none

you've got no record so you can't even

negotiate

and it turns out that

bitcoin is the first thing where you can

negotiate it and because you can

negotiate it

uh it's property that encourages

peaceful resolution

right

and all other forms of property

encourage violent resolution because the

the phrase is winner takes all right

all the other properties are winner

takes all i can either negotiate with

you and take half

yeah if the bullet cost a dollar and if

the gun costs 387 dollars and if you

have a million dollars

i can either spend a dollar and take it

all

or i can negotiate peacefully with you

and i can take half of it yes

but you know the roi on that last one

dollar bullet is five hundred thousand

dollars right it's five hundred thousand

a one

and so the problem really is is other

forms of property physical property

incentivized violence yes

and the game theory dictates a violent

resolution and and it's even worse than

that right because the person that that

you know

lines up 10 rich people against the wall

and shoots all 10 of them ends up

getting all their money and then they're

able to raise an army and they're a

mussolini or a hitler

and then they get to go line up the next

100 and then they get to line up you

know pretty soon you're stalin

right and uh

the there's a benefit to the most

violent and they get powerful

but with bitcoin

it works the opposite way

because first of all you can't get all

of it with violence you get none of it

with violence

and the second thing is

as soon as as soon as i said robert come

into my

you know i'm going to seize all your

bitcoin

um then

your answer is no then when i say i'm

sending guys to your house with guns to

seize all your bitcoin

the most likely result is you're going

to wire your bitcoin somewhere else in

the universe that i don't know about or

you're going to put a multi-signature on

it

and you're going to say

look you can put your guns at me you can

shoot me you can pull out my fingernails

but i can't give it to you

right it's like okay well tell us who

else has got the signature oh somebody

on a satellite

has to say

how about a computer program on a

satellite has it and they've locked it

up and i can't get it out and you know

until you release me and i've lived

happily for five years and then i can

get it out

how do you negotiate with a computer

program on a satellite right and if you

but if you don't want that you're just

like okay well i sent it to somebody

else

yeah all right or yeah you know and um

and now when that happens

the first person that attacks the

bitcoiner he realizes that didn't work

out so well

and all the bitcoin leaves your

jurisdiction

and so the attack

causes um causes a response

and so it's not

what i'm trying to say is if you own

if you have a hundred people with a

billion dollars of gold each in your

country you can shoot all hundred and

take a hundred billion dollars and the

game theory says you should

if you have a hundred people with a

billion dollars of bitcoin in your

country

you could hold a gun you can incarcerate

them all and get half

but you won't

because as soon as you incarcerate one

or two of the people

the other 98 will leave the country the

bitcoin is you see you will end up with

a country where you manage to get half

of two people's bitcoin

and 98 in the bitcoin will exit your

jurisdiction

so the real game theory says

bitcoin has an immune system and 98 or

99 of bitcoin departs from a hostile

political jurisdiction when you start

trying to seize the asset right and

that's what makes it the apex property

and in the same way that's what makes it

anti-violence

and that's what makes it a cleansing

technology for the human race

because bitcoin promotes civility yes

yeah so that you the physicality of the

property itself is what makes it

vulnerable to coercion effectively the

ideal property would be something that's

non-physical like bitcoin i think this

really gets to

the crux of the value proposition of

government and banking frankly it was

the provision of

the security for property right the bank

is going to custody your gold

government's going to secure the

territories so you can have peaceful

commerce

and bitcoin

by by being an asset that has the

security innate to it

it enables this uh radical new level of

social scalability so we're eliminating

this duplication of efforts that every

bank has their own like you said

accountant auditor compliance i.t hr

you've now just eliminated the need for

that so it's it's such an economizing

force as well it's like not only is it

creating more civility but it's creating

more economic efficiency

just by virtue of being non-physical and

having inbuilt security

bitcoin is a bank in cyberspace

and a hundred thousand fiat banks

collapse in the bitcoin network and all

of the energy and all the mass that was

allocated to running those hundred

thousand fiat banks that gets released

back into the economy to be recycled

and this is like this gets back to your

book i think where you're making the

point that

to get rich in the digital age is like

find a critical social function and

de-materialize it such that it's an

order or orders of magnitude more

efficient and bitcoin is essentially

dematerializing these critical functions

of banks and governments the largest

institutions in the world

so maybe that's one lens to view it's

the significance of its value problem

yeah i think so and i and we even got to

the best part right which is

i mean bitcoin bitcoin has

de-materialized the accounts the

auditors the compliance function the

operations function the hr function the

facilities function the security

function

of every single financial you know

business money money mover or uh or bank

it's also dematerialized the civil

police municipal security function

everywhere where where that function was

there to protect property

all property policing

now the the next thing is what happens

when

two countries disagree so in order to

protect your money you need a military

and if you don't have a military like

you know

fill in the blank right ask the

spaniards during the spanish civil war

or ask the ask the the french or the

polish people you know during world war

ii

if you don't have a military then you

lose all your property rights

so

the fiat system

provides provides the the geopolitical

security via military

via war and via politics

and this is this is where i make this

interesting point bitcoin's the first

multinational money

all the fiat

currencies are national monies

gold was a physical money we replaced

gold with fiat and with the banking

system because we needed to move the

money faster at a higher velocity and we

needed to build new applications on it

so the price we paid was a central bank

plus fractional banks

but even so

you know every single money is a

national money

and if you want it to work in the world

over time

that you've got military you've got the

state department in politics and you've

got war

and that's that's the real expense of

the fiat system

the fact that every 20 30 40 years you

have to fight a war be it world war one

or world war ii

or fill in the blank in order to defend

your property

so

how does bitcoin avoid that

well i mean bitcoin is a multinational

network and because it's

it's it's challenging to locate the

network

but you might be able to locate some of

the miners but some miners you can't

locate they're off the grid

and and half of the nodes are off the

grid coming through the tor network you

don't even know where they are

so

the the

network is running orthogonal

to

geography

or national or political jurisdiction

it's in cyberspace

and that means that um

geopolitical disputes are settled in

bitcoin

but they're settled without war

so

when one nation

wants to um you know wants to tax a

certain property

they can tax it maybe they can uh they

can put a tax on a bitcoin miner

but

the might they will either put a tax

that's so high that the miners shut down

and then all the mining relocates or

just the network just

reconfigures

or they will tax the bitcoin miners at a

level where the miners continue

and the network just adjusts

so you you've got a peaceable resolution

via the political process

and you don't and there really is no

incentive that

if i actually raised an army of a

million people and i had atomic bombs i

can't use that to get your bitcoin

right and no one else can use it to get

mine

so again the the the violence the

transnational violence is

not really

uh encouraged

right with bitcoin

and what we've done

is we have taken a fiat system that was

constructed to provide

to make gold money faster smarter

stronger

and done with the best technology of the

20th century

we have taken that 20th century model

and we replaced it with a 21st century

model satoshi's model

that makes money

faster smarter stronger again

but in the doing of it

it's almost it's hard to understate how

much

um

inefficiency we eliminate

right

like uh

if you replaced

all the banks all the money

exchanges and then half the police

department and ha and all the militaries

or half the militaries

take half of of that entire fiat system

that's meant just to protect fiat money

flows

take it away and then

what you realize is that bitcoin is is

providing that monetary system that does

something better

a million times cheaper right

to say it's a thousand times cheaper

might be an understatement but it's at

least a thousand times cheaper it's it's

a massive crystallization or a

collapsing to a lower energy state

where

you're able to provide a million times

more security

and you can move money at the speed of

light

and

you can make it a million times smarter

and you can do it like a million times

cheaper right all of those things at the

same time so

that that in itself is like it's like

inventing coal fusion right

i could take a sugar cube and i could

split the atom and i could figure out or

i could take this bottle of water and i

could run a fusion reactor on it that

would power up the entire you know

civilization

for a year off the bottle of water

that's what it will do to the human

condition yes that kind of

breakthrough technology yeah it's such a

massive reduction

to scarcity

um and you know that's really the

pretext for war it's people fighting

over scarce resources and if if there's

one universal i think it's

you know human beings could agree that

war is a bad thing it's the most

uneconomic activity we can possibly

engage in you know you're you're

mobilizing capital to go and destroy

capital and

uh you know clearly destroy a lot of

human life as well and it i think this

is a good way to look at it is that war

in the 20th century at least this was

the violent mode

of reaching consensus on property

like to decide who owns what countries

would raise armies and go to war and

draw the lines on the map and say this

is mine that's yours and bitcoin is this

alternative mode it's a peaceful mode

for reaching consensus it's like a

peaceful alternative to war

yeah certainly the franco-prussian war

was fought over

you know over land and world war one was

fought over land and world war ii was

fought over land and

the mongols fought over land and the

crusades were over land and

the french indian wars were over land

you could say the american revolution

was over land

it's a lot of a lot of reality

fighting over

mexican-american war over land

spanish-american war over land

yeah

a lot of wars over land

and um

if

if half of the money in the human race

was in bitcoin instead of in land

then

the property isn't the spoils of war

right and i think the phrase spoils of

war is important gold is spoils of war

land is spoils of war

bitcoin digital property

is not spoils of war

so

if you have a lot of money and you put

it in gold i shoot you and take your

gold

you put it in land i shoot you and take

your land

if you put it in bitcoin my gun is

worthless right

i gotta talk you out of it yeah or we're

gonna negotiate you have to serve right

you have to serve the customer provide a

valuable service to someone that's

willing to pay you for it so it's the

spoils of peace instead of war

and

uh and once you understand it like that

you think why would i want to store my

time energy or my life's work

in something that's a spoil of war

exactly

right why why wouldn't i want to store

all the all my life's work and something

which is a spoil of peace

this is better every way

so

you know just a few a few more thoughts

on on the bitcoin model and proof of

work before we

go deeper down the rabbit hole

into the

into the engineering dynamics

so the proof-of-work model

the proof-of-work model is um

i do a bunch of work with energy

i generate a bunch of hashes i try to

solve the problem i solved i i solved

the problem

and then i claim the reward i get paid

for my work

um the work that the bitcoin miner is

doing is somewhat uncertain

there's no guarantee that you'll

actually win the block

um

but somebody is guaranteed to win

right what you've got is a bunch of

people vying for the energy in the

system every day

900 bitcoin get mined

a bunch of transaction fees get paid

all the bitcoin miners are competing

via honest work

to um to win their share of that energy

and so

the other part to the bitcoin system

is the difficulty adjustment

so as more miners enter and as the hash

rate increases the difficulty goes up

so you can think about difficulty as

a protocol for competition

and

and the proof-of-work algorithm

is the protocol for work so

another way to say this is uh the

bitcoin network

rests on competitive

work

now that's unique to

a financial system

right we never did it before with the

fiat system

you could argue

we we kind of did something similar with

gold i mean gold is is you do a lot of

work the work is mining the gold and

there's no guarantee that you'll find

the gold and but if you do find the gold

then you get to

you know you get to sell the gold and

you get paid for it

so there's some benefit and then as more

people get into gold mining right it

gets more competitive

one way or the other so gold is a little

bit like this but

i think that the more interesting idea

here is that that work and difficulty in

bitcoin

feel a lot like the work and the

difficulty in capitalism

so bitcoin is a microcosm of capitalism

yes if you look at every single

industry

what is the industry well i work in this

i work really hard to win customers

and i get paid there's no guarantee i'll

get them

if i launch a restaurant my restaurant

may fail but it may succeed

if more people set up a restaurant then

it gets harder for me

maybe the market will grow maybe it

won't i don't know there's uncertainty

there's competition

what's pretty clear is if i'm

incompetent if i don't get up and go to

work every day

i

i can't guarantee you

you'll mind the next block but i can

guarantee you if you turn off the

bitcoin mine you won't mind the next

block

i can't guarantee you that your movie

will be a hit but i can guarantee you

that if you don't make the movie or

don't finish the movie it won't be a hit

right so in capitalism you've got

thousands and thousands of industries

and markets

you've got groups of competitors

everybody is working

some people come up with better

technique

there are you know there's s 19 miners

they're better than s9 miners

invent a new bitcoin miner right you can

invent a new technique you can run it

harder you can find a cheaper raw

material

the same thing in bitcoin mining goes on

with every other industry so capitalism

is proof of work with a difficulty

adjustment right

right the difficulty adjustment is

taking place you know try launching your

own mobile phone company in the year

2021 against apple computer the

difficulty has gotten pretty high and

this is um so key because it's the

that's a great way to look at it the

profits

that emerge

from a successful entrepreneurial

venture that actually draws in more

competition

right if you're generating 30 profit

margin other entrepreneurs come in to

try to feast on that profit margin

that is the difficulty adjustment in

capitalism the industry then becomes

more competitive it becomes more

difficult to succeed and then the

opposite is also true if you start

generating losses you actually expel

competition you know people go out of

business so it's it's so interesting to

look at it that way i've called bitcoin

in the past

kind of a fractal of the free market

like it's its own little free market

that imposes free market principles at

large

bitcoin is modeled on capitalism

you could say that that satoshi was

creating a competitive

honest work system to allocate um to

allocate the responsibility for the

network and the and the rewards of the

network

but you could also say it's modeled on

like a you know a classic engineering

control system it's a first order

negative feedback loop

right and if you look at the way that

any aero aerospace uh airfoil any

airplane any control system

any ballistic system

any targeting system works you have you

have these control systems and then

you've got uh

servo mechanisms and and cybernetic

mechanisms and it's like

i try this i miss i adjust

you know i try again and you get a

negative feedback

uh in order to uh in in order to

converge the negative feedback of

bitcoin is the difficulty adjustment and

the and the control parameters it's

trying to converge on one block every 10

minutes right to stay on schedule

it's not

it's not unlike an autopilot if you're

trying to get from point a to point b

over the course of a hundred units of

time

yeah

and you've gone one one minute you want

to get there in a hundred minutes if

you're behind you check you go faster

and if you're ahead of schedule you

check and you go slower right right

right because you want to end up doing

100 of the work in 100 minutes and so

there's your negative feedback loop

you'll find this is built into

thermostats yeah it's built into

autopilots it's built into all sorts of

things in the engineering world

and it's built into every capitalist

market

now

i'll make one more point

bitcoins based on capitalism capitalism

is based on nature

where else do you see an example of work

and difficulty

right it's like hunting yes you know i

i'm a i'm a a predator i get up in the

day i hunt

is there any guarantee i will get

anything no

what happens if i don't hunt there's a

hundred percent guarantee i will starve

yes

what happens if i do hunt

maybe i will be the best hunter and i

will catch the gazelle

maybe i will get unlucky

and someone else less worthy than me

will catch the gazelle right there is

uncertainty

maybe i will catch all the gazelle and

there's no more gazelle and i will have

to change my parameters

so in nature

you know the prey the predator and this

constant equilibrium all the plants all

life forms they're all working what are

they working to do to capture energy

from the from the ecosystem yeah the

trees are trying to get the sunlight

right the prey are trying to eat the the

leaves of the trees

right and the predators is trying to eat

the prey yeah

and the difficulty adjustment is

if all the giraffe eat all the leaves of

the trees then only the giraffe with the

longest neck can reach the leaves that

are left and all the other giraffes with

the short neck started out yes that's

the difficulty adjustment yeah

right the difficulty adjustment is