The discussion revolves around the consistency of Godel's system of axioms, particularly ZFC. It highlights that while Godel's theorem indicates any consistent mathematical theory with a model of natural numbers is incomplete, it does not directly imply ZFC's inconsistency. The participants note that if a statement is unprovable in one consistent system, it can be provable in another consistent system. They emphasize that Godel's proof relies on the assumption of consistency, and if a formula asserting "ZFC is consistent" can be expressed, it cannot be proven true unless ZFC is indeed inconsistent. The conversation underscores the complexities surrounding the proofs of consistency in mathematical theories.