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May 8, 2025 - Blood Money
25:56
The New Economic System to Liberate We The People (pt 6) with Dimitar Ivanov - BM eps 292
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Alright guys, welcome to the latest Blood Money Podcast.
You know, we've been doing a series on new financial systems.
As we all know, our current financial system is falling apart.
The fiat currency system is falling apart.
We've had crypto, which has had all the hype in the world, starting with Bitcoin, and now we've got all these different cryptos, all these different meme coins, right?
And what seems to be going on with a lot of that is, again, is very top heavy.
While it's been decentralized, it's still centralized in the aspect that you have very few making a lot of money and this trickle down effect and a lot of people not making any money, actually losing money.
Right.
So we've been doing a series with Greg Chu and his team about QPQ.
And today I have Dimitar...
Ivanov, I got that right, right?
You did really well.
You are a software engineer with QPQ and GazooCoin, correct?
Yes, exactly.
Awesome, awesome.
Why don't we just dive right into it, man?
Tell me what you do with the company, what you guys have been up to with QPQ, and I'll ask questions as they come up.
Yeah, well, I am involved in literally every part of the software that we're writing.
And I don't know, shall I tell you about myself?
Yeah, yeah.
First tell us a little bit about your background, where you came from and how you got involved in this crypto world and obviously with Greg and QBQ.
Okay, so basically I've been involved in computers all my life, but my first job was developing banking software.
And I saw the sausage factory from the inside.
And I have found a lot of bugs in production that were running with actual people, money, losing money.
And I had found a bug for one really big...
I cannot say the name of the company, but it sells electrical parts and they do factoring.
So basically...
They've accumulated a couple of million dollars lost of their customers and those money were not gained by anyone.
They were simply lost in the database because the database was so poorly designed.
So there was a small rounding error.
It's like a joke, but this really happened.
There was a small rounding error and money were taken from the accounts of the People that were paying their debt.
And that wasn't accounted for.
So basically, those money were simply taken and they were vanished.
Wow.
And this is because of bad software?
Yes.
And this is because of centralized software.
And this is because of software that cannot be audited.
Like, nobody can read the software for that particular company.
And say, oh, that's a bug.
That's really bad.
You have a bug there and you're hurting actual moms and pups shops.
How do they make it where you can't do an audit of the software?
Is it just built to be not auditable?
It's built to be secret?
Yes, it is.
It is centralized.
So basically, you go to your bank, you cannot see your bank software.
When you go to your bank, you basically start asking them.
To allow you to use your money and the rules they have, you don't know.
You don't know if they blacklist you for something or if they track that you bought something that they think you shouldn't have and they can start hurting your ability to use your own money.
You don't know what those rules are and you don't know the accounting they're doing on their servers.
You have no access to those.
So banks are usually audited but books like this are there and they're present on the wild and they happen.
That's really dangerous.
This is what blockchain actually really helps because the software anyone can read it, anyone can expect if there is a book and usually once people find the book it's exploited.
In real time.
And everyone can see, oh, we shouldn't be doing that.
Okay, we know we'll fix that and we'll never ever do that again.
We promise.
But that's not what the banks do.
With this example, with the bank, what happened is I escalated this to the highest management there.
And they said, okay, now delete those emails that you sent us.
And we'll never talk about this ever again.
This never happened.
Cover up.
Mass cover up.
Yes, yes.
I mean, isn't that illegal?
I don't know.
I don't know.
I mean, it sounds like you're asking to break the law or something, man.
That sounds like, yeah, but anyway.
Yeah, I was in my early 20s.
That was like a month before I quit there.
Like, I was completely reposed by the whole...
Because the company I was working for was one of the biggest brand names.
And I was like, okay, I'm not doing money anymore.
I initially...
My goal was never to implement software for nuclear power plants and for anything related to health.
Like I don't want people to die because of me and my mistakes.
But then I got repulsed by the whole economic system and I started developing computer games.
Computer games.
Wow.
Okay.
Okay.
And then, so computer games you're building, how do you get involved with QPQ?
Well, I had a scratch to scratch and I had a lot of fun and then I moved to blockchain.
I worked for seven years on a project called Eternity and met great people there.
I've met all the people in QPQ there and at some point the direction the project went was...
How do I say it?
It appeared a lot like my former work at the banking software.
So I decided that it's not moral for me to continue there.
And we collected the brightest minds there and found QPQ.
Wow, wow.
Okay, so one of the things I've been hearing, and it's obvious that you've gone through similar experiences, when I'm pitching people QPQ, because since I met Greg at CPAC, I've been sharing this idea, trying to help him build a following.
Obviously, the people we hang out with are the perfect marketplace, if we could convince them.
You know, a lot of them, because of the sort of thing you're talking about, have said, oh, you know, how do we know it's not a scam?
How do we how do we know that it's not just another crypto or meme coin where, you know, somebody is going to make a whole bunch of money and the thing is going to drop in price or it's not going to be what's promised?
Tell me what makes you obviously you have a moral conscience.
Obviously, you didn't like what the central banking systems were doing.
What is it about QPQ in your own words that makes it special and credible?
All right.
That's a really big subject.
And I'm not sure if I can share all of it.
Some of it will have a lot of patents pending.
So I'll walk on a tint razor here.
So bear with me.
Initially, when blockchain started really, it's a product of a lot of mines developing and building one on top of the other for the past...
Many, many years.
It's long before Bitcoin started.
But Bitcoin started around the banking crisis and that was really what triggered the interest in Bitcoin because people wanted to have decentralization, authority of their own money and freedom, really.
Because we've lost that.
So...
Done our best to take the best ideas, for example, from Bitcoin.
What other projects are doing en masse now, they go proof of stake.
And basically, whoever has stake, suddenly has more stake.
And then they have even more stake.
And this is not fair, in the sense that if you want to join the club of the ones that can stake, you have to buy a lot.
of coins to join and then your only best interest would be not spending those, keeping those close to your heart and not touching them ever because otherwise you'll be losing potential gains in the future.
Bitcoin is not like that.
Bitcoin is proof of work, so whoever has a computer can start.
Mining, spending electricity and CPU cycles in order to produce special magical hashes, which are just a proof that you spend some time with your hardware.
And anyone with a computer can do that.
This is much more democratic and free for anyone to join, to participate and to...
Earn, in our case, gadgets.
This is how Bitcoin started.
On a single machine, then a couple of machines, and now it's boiling the oceans.
We've taken a bit different approach, and while we're still proof-of-work, and we're still producing hashes, essentially.
Well, we're not really producing hashes, but we're looking for cycles in a graph.
Which is less CPU intensive and more memory intensive.
And for that it requires much less CPU power.
And since memory is much more cheaply available than CPU, it's much easier to onboard people.
You don't need special hardware.
So that's our plan for democratizing the coin.
Anyone with a computer can start mining and producing coins from themselves.
And the value of that coin would be based on if you can actually use it for money.
We want to use it for exchange of value.
And we're building actual shops.
So, you can buy stuff for Bitcoin.
And I had eaten a burger for Bitcoin.
A friend of mine bought me a hamburger and said, okay, I pay that with Bitcoin.
And that's really...
Cool, but that's exotic and Bitcoin cannot possibly handle, like it has six, seven transactions per second and cannot handle the whole world buying hamburgers.
But Kajumaru can.
And it's a really good means for exchanging value.
And we're building actual infrastructure.
To allow people to be selling services and goods just like they would for fiat without having to ask their bank to allow them to buy whatever they want to buy.
so so the the mining of it you know bitcoin super computers it's it seems like you need to have a lot of money kind of um you know reserved for people that are able to get these super computers but the way gaju works is you could just be mining on an old laptop that you don't even use and it's networked with computers worldwide and that gives the computing power based off of memory Yes, exactly.
And the more computers we have, the better security the network has.
So, for example, I have a couple of laptops here with me and they're lying.
and doing nothing and they would be mining gadgets and the hardware requirements are really not that high and you can join with a really old machine that could still be viable in the network I don't want to be a FOMO guy Fear of missing out.
But while the network is small and the rewards are high, there is a high incentive for people to join mining pools.
So basically, Bitcoin mines one block every 10 minutes.
And we have a much more elastic approach to blocks, but rewards are distributed every two minutes.
So every two minutes, we give one miner a reward.
Which means 720 miners are rewarded a day.
But since we're expecting thousands and hundreds and thousands and millions of people to actually join the ecosystem soonish, those 720 blocks a day is not enough to reward everyone.
So instead, we're building mining pools.
So instead of you mining for yourself and having to persist the whole database and everything, you simply install one small program and take care just for that, not for the block.
whole blockchain node that you would otherwise have to run and you're doing your best to mine during that time and while you're mining you're sending your results not to the blockchain but to a mining pool which distributes puzzles to be solved to different miners and they're mining like a consortium of miners and once any one of them receives finds a solution to the blockchain puzzle And
essentially produce a new block.
Then everyone splits the price.
Split the reward.
So even if you have an old machine, you still can be contributing to a pool and reaping rewards from that.
Wow, wow.
I mean, would it be accurate to describe that Bitcoin when it was released, I believe 2009, was imperfect.
And this is sort of Bitcoin perfected in a way.
Is that accurate?
Well, Bitcoin was an amazing proof of concept.
Before that, there was proof of work as a concept and it was used for spam prevention.
But what Bitcoin did is it proved that people can be using electronic payments in a decentralized way.
Being a proof of concept, it doesn't have a lot of things that we consider to be Important at the moment.
It doesn't have smart contracts.
It's throughput is enough for proof of concept if you want to try something, but it doesn't scale by any means.
So yes, Gajomaru is more close to Bitcoin than to any other blockchain and it's Bitcoin improved.
If it is perfect, there is a lot of work still to make it perfect.
Okay, markets.
Let's talk about markets.
I thought it was a very interesting concept that part of this is you're building an ecosystem within which people could launch their own markets, their own stores.
Kind of like Shopify, but they're basically taking the gaiju that they are mining and they're able to buy and sell stuff and trade.
So it's almost like a 360 concept.
With its own community, with its own universe.
Could you tell us a little bit about that?
Oh, yes.
The idea is that...
For example, for me, we have a colleague in Japan.
And he came up with the name Gajumaru.
It's one pretty special tree.
You can look it up later on.
So, for me to send him any...
Fiat.
I'll have to do a bank transfer that is going to take a handful of days and the money from me to him to travel are going to stop at the different banks.
I don't want to get in banking software again, but there is some risk involved and there is pathfinding.
So basically my money goes from Bank A to Bank B to Bank C to Bank D. But if Bank C and D decide that they're not working together, now this hop that was C and D is not possible anymore.
So I have to go to another route.
And this is how money actually gets not lost but locked for quite some time.
And this is really, really inconvenient.
And furthermore, exchange rates and Different types of fees are accumulated on the way, which is really, really inconvenient and inefficient.
So if I want to buy something from Okinawa and to have it shipped here, that's going to be really hard.
PayPal is doing something like that, but PayPal can close your account for any reason that they seem that they don't like you.
What we're doing instead is we want to provide infrastructure and resources for everyone to start building their own services and shops and whatever they seem basically empower all businesses to do cross-border transfers.
There is a lot of talk about how regulation applies to blockchains and blockchains are by definition and by design unregulatable.
You cannot say you're not allowed.
So, for example, if I do something really bad and the courts decide that I cannot really move my money and they want to pay my money, they can simply take them.
They'll go to the bank and they'll have a court order and I have no money now.
But you cannot do that with Bitcoin, for example.
If the bank says you cannot move your money now, okay?
And who is going to enforce that?
The same is with Gajomaru.
Nobody can tell you that your money is not yours suddenly.
But still, regulation is a big factor if you want to have adoption.
We need to play with existing ecosystems.
So we need to play with banks, we need to interact with tax authorities and if it is an unregulated space it can get dangerous really quickly.
I reside in Bulgaria and the first time I withdrew fiat from my exchange my bank called me and told me that I need to visit their office and if I ever ever ever Dare to touch crypto ever again, they'll close my account.
No questions asked.
So I had to sign a piece of paper that I'm not dealing with crypto anymore, ever.
Which is bizarre if you start thinking about it.
So what we're offering is a blockchain that has a regulated part and an unregulated part.
And I cannot really get into details because still the patent is pending.
But the idea is that Gajumaru will comply with local regulations but there will be still unregulated space between those.
There's no power structure in this.
So you're saying regardless of what you do, what freedom of speech crime, they cannot mess with your money, they can't mess with your marketplace, they can't shut down your door.
As long as you're not doing, from what I understand, child porn or something grossly illegal, they're pretty much left alone.
Well, that's the problem.
You either have freedom or not.
So if you have something that is grossly illegal, We cannot stop you, really.
But then nobody sane is going to be touching your others, ever.
For example, since everything on the blockchain is public, anyone can validate that indeed I have 5 coins or you have 3 or whatever.
And if I have 5, I can always send you up to 5. It's my decision.
But if I am set to be Doing something really bad and I'm essentially cancelled, you wouldn't like to do business with me.
Even if I'm really, really bad and I don't want to get into bad stuff, but even if I'm really bad, nobody can walk my coins and take my coins.
So this is a double-edged sword, so we can get cut by that as well.
Got you, got you.
But it's either that or it's a slippery slope into control.
So, I mean, it seems like, you know, doing the morally right thing, not being tyrannical, not being, you know, letting these criminals centralize back, that seems to have been something that was important to you.
Do you feel like what you're working on right now with Gaju and QPQ, I mean, is this the perfect bullseye for you and where you stand as a human being?
Yes.
So, I always wanted to develop computer games and I was really happy doing that.
But this is completely dwarfed by whatever we're doing in QPQ.
Like, this is the most fulfilling thing...
Well, except my kids.
This is the most fulfilling job that I've ever done.
Like, on every level, like, it fills me spiritually, inspires me to...
Because you see the news.
You see what happens all over the world and how tyrannical authoritarian regimes start imposing their will upon people.
And we still have chance.
We still have time to build an alternative system to allow people to be free.
Amazing, amazing, man.
Is there anything we didn't talk about QPQ and your lane within QPQ and GyajuCoin that's important to mention in this podcast?
We are approaching a milestone moment when slowly we'll start opening the gates for people to start mining.
And we're working really, really hard, like 15, 16, 17 hours a day.
So, if I'm not my primes, I'm sorry, but my head is a mess.
Like, I've slept a couple of hours and quite a long time.
Working hard, working hard.
You know, I think I've...
Now, it's funny because the first time I did an interview with you guys was with Greg.
It took about three and a half hours.
Now, I get it.
I think the people are going to get this.
I think it's a brilliant idea.
And I'm looking forward to seeing you guys become wildly successful.
And as a result, The people become wildly successful because this sounds like it's like the first "we the people" concept as opposed to "we the elite" or "we the very rich people" type concept.
Yeah, for me it feels like discovering the printing press.
Wow, wow, wow.
Dimitar!
Exactly.
Thank you so much for coming on the Blood Money Podcast.
We really appreciate you.
We're going to do a roundtable soon with all the guys from GadgetCoin and QPQ.
For the viewers out there, make sure you join us at AmericaHappens.com where we have our featured episodes, also our Rumble channel at AmericaHappens, our Roku channel, and my X account at NotVenMiller, as well as AmericaHappens1 on X. I will see you all on the next episode of Blood Money.
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