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The Ultimate Guide to Crypto Finance. Level up. Go bankless.
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3rd Week of June 2021 ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣 LEDGER | START YOUR CRYPTO JOURNEY http://bankless.cc/LedgerYT  ------ Topics Covered: 0:00 Intro 2:10 MARKETS 2:13 BTC Price 4:30 ETH Price 6:05 ETH / BTC Ratio 7:02 ETH in Smart Contracts https://twitter.com/sassal0x/status/1404101807798845442?s=20  10:00 DeFi Action  12:00 Index Coop Revenue https://twitter.com/BigSky_7/status/1405193562329739266?s=20  Org Structure: https://twitter.com/pet3rpan_/status/1403740789562232832?s=20  14:18 BTC in Lightning Network https://www.theblockcrypto.com/linked/108718/bitcoin-lightning-network-capacity-accelerates-to-1500-btc  Lightning Twitter: https://thecryptobasic.com/2021/06/11/twitter-or-bluesky-may-soon-integrate-btc-lightning-networ/  19:40 Bearish UNI Fee Accrual? https://twitter.com/cartesian99/status/1403998240555606016?s=20  26:00 90% Aren’t Scared Meme: https://memegenerator.net/img/instances/78099137.jpg  28:00 RELEASES 29:30 Metamask Institutional https://twitter.com/mminstitutional/status/1403064969575514116?s=21  31:25 Alchemix Release: https://alchemixfi.medium.com/behold-aleth-90d750889fd8  Incident: https://twitter.com/AlchemixFi/status/1405187348678148101?s=20  Post-Mortem: https://forum.alchemix.fi/public/d/137-incident-report-06162021  34:40 BED Index https://twitter.com/Crypto_Texan/status/1404422145191649284  38:11 Lyra https://twitter.com/lyrafinance/status/1404589635867615233?s=20  40:37 Ernst & Young on Polygon https://twitter.com/pbrody/status/1404753341738070016  41:07 Volmex Finance https://twitter.com/volmexfinance/status/1405176261262004230  41:54 Gitcoin Round 10 https://twitter.com/gitcoin/status/1404589721863393286?s=20  44:00 Alexandra Botez ETH https://twitter.com/alexandravbotez/status/1404896176479117315?s=20  44:55 Other Releases MATIC on dYdX https://twitter.com/dydxprotocol/status/1404490781369552900?s=20  USDC on Arbitrum https://twitter.com/petejkim/status/1405300436970741760  Cream on Arbitrum https://twitter.com/creamdotfinance/status/1404815692352954371?s=21  Parcel DAO Treasury Management https://twitter.com/parcelHQ/status/1403433529023684611  Yearn Facelift? https://twitter.com/AntonNellCrypto/status/1403650531575349249?s=20  46:44 NEWS 46:54 Bitwise $70m Raise https://www.theblockcrypto.com/post/108421/bitwise-raises-70-million-from-new-wall-street-investors-including-henry-kravis-and-dan-loeb  48:23 Polygon Full Blocks https://polygonscan.com/chart/gasused  52:13 Cuban Tracker: Titan https://twitter.com/ChainLinkGod/status/1405319238701633537?s=20  58:00 InstaDapp $10m Raise https://www.theblockcrypto.com/linked/108224/defi-startup-instadapp-raises-10-million-in-new-funding  58:22 Goldman Sachs ETH Futures https://www.theblockcrypto.com/linked/108364/goldman-sachs-ether-derivatives-plans-bloomberg  58:45 dYdX $65m Raise https://twitter.com/dydxprotocol/status/1404818923103600643?s=21  59:16 PleasrDAO Wins Again https://twitter.com/PleasrDAO/status/1403403494669832194?s=20  1:02:52 World Bank Rejects El Salvador https://www.theblockcrypto.com/linked/108682/world-bank-rejects-el-salvador-bitcoin-request  1:03:36 Paul Tudor Jones https://blockworks.co/paul-tudor-jones-likes-bitcoin-as-portfolio-diversifier/?oly_enc_id=9918E2523689A0T  Meme: https://imgur.com/cxkPv14  1:05:05 Microstrategy https://www.theblockcrypto.com/linked/108399/microstrategy-stock-offering-filing-bitcoin  1:06:30 Coinbase Lists SHIB https://twitter.com/sassal0x/status/1404848247139565576  1:10:33 State Street Crypto https://www.cnbc.com/2021/06/10/state-street-is-creating-a-dedicated-cryptocurrency-division.html  1:10:45 Millennial Millionaires https://bitcoinexchangeguide.com/more-than-a-third-of-millennial-millionaires-have-at-least-50-of-their-wealth-in-crypto-survey/  1:12:19 Panama Crypto Bill? https://www.coindesk.com/panama-to-present-crypto-related-bill-in-july?amp=1  1:13:30 TAKES 1:14:30 MEV Goes to Stakers https://hackmd.io/@flashbots/mev-in-eth2  1:17:30 Under or Overvalued https://twitter.com/fintechfrank/status/1404587101807644674?s=21  1:19:05 Accumulating Friends https://twitter.com/owocki/status/1403405238179008513?s=20  1:20:33 Crypto Twitter is new Wall St https://twitter.com/rasterlyrock/status/1405548074420772868?s=21  1:21:50 What David’s Excited About San Diego: https://www.meetup.com/meetup-group-dgdwuehn/  1:23:45 What Ryan’s Excited About 1:25:45 MEME(s) of the Week Star Trek: https://twitter.com/banklesshq/status/1405564845395628032?s=21  1:28:09 Closing & Disclaimers ----- Not financial or tax advice. Do your own research. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Last week, El Salvador announced that Bitcoin would be accepted as Legal Tender. We bring on our favorite Bitcoiner Nic Carter to the State of the Nation to discuss this monumental historical event -- a nation-state officially recognizing Bitcoin as a currency. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣 LEDGER | START YOUR CRYPTO JOURNEY http://bankless.cc/LedgerYT  ----- State of the Nation #50: El Salvador Adopting Bitcoin Guest: Nic Carter Nic Carter, recently verified on Twitter, is a partner at Castle Island and 4-time guest on Bankless. In 2021, Nic has spent much of his time dispelling the common myths frequently pointed at Bitcoin by the mainstream media, and he has been a general in the Green Energy war taking place around Bitcoin. Last week, Nic started a Twitter Space to discuss El Salvador adopting Bitcoin as legal tender, a historic moment for crypto. Nayib Bukele, the President of El Salvador, joined the Space as the El Salvadorian congress ratified the bill. This twitter space ultimately garnered over 20,000 listeners, including some of the biggest names in crypto. Bukele showed himself to be savvy with both tech and social media, earning his label as a populist. This is a pivotal time for cryptocurrency. The news from El Salvador bring up increasingly important questions like the relationship between nation-states and digital value. There are a variety of motives for El Salvador to adopt Bitcoin including lessening dependence on US monetary policy, as the Dollar was previously the sole currency of the country. What does it mean for a country to adopt a cryptocurrency? Is Bitcoin being used for its 'intended purpose?' Is this a populist reprisal? Do these events represent a rejection of the Cantillon effect, and a move against the monetary hierarchy of capital gains taxes? In this State of the Nation, we cover these questions and more as we digest this monumental news and figure out what to make of it. ------ Resources: Nic on Twitter: https://twitter.com/nic__carter?s=20  Castle Island: https://www.castleisland.vc/  Nic's Podcast, On the Brink: https://onthebrink-podcast.com/  Crypto-Fiat Mutualistic or Parasitic: https://newsletter.banklesshq.com/p/crypto-fiat-mutualistic-or-parasitic  Bitcoin Beach: https://www.bitcoinbeach.com/  ----- Topics Covered: 0:00 Intro 8:30 Nic Carter, Global Diplomat 10:18 Does El Salvador Change Everything? 15:43 Capital Gains 20:24 President Nayib Bukele 26:04 Is this good for El Salvador? 34:55 Lightning Network 40:15 Custodial Bitcoin 43:10 Bitcoin's Biggest Test 52:13 The First Domino to Fall 58:01 Is This Freedom or Coercion? 1:03:27 Pumping their own Bags 1:09:23 Authoritarian Populism 1:15:03 Gateway to DeFi 1:18:30 Physical vs. Digital 1:21:20 Consequences 1:23:54 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Bitcoiner Preston Pysh joins the Bankless Podcast to discuss Bitcoin and Ethereum and prove that there are high level conversations to be had between the two communities. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-asking-the-questions  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ Topics Covered: 0:00 Intro 5:50 Preston Pysh 8:17 Macro Value Investing 16:32 Moving to Bitcoin 21:22 The Last Free Market 26:13 Decentralized & P2P 29:32 Misconceptions 37:05 DeFi and Execution Risk 40:55 Ethereum Concerns 45:00 ETH’s Price Action 49:20 Protocol Consensus 53:54 Nodes 1:00:55 Work Vs. Stake 1:10:30 Clean Energy & Halvings 1:19:00 Issuance & EIP-1559 1:28:45 Currency and Blockspace 1:34:43 Risk-on vs Risk-off 1:38:24 Decentralized Finance 1:52:30 Preston Pitches ETH 1:56:06 David & Ryan Pitch BTC 2:00:40 On the Same Team 2:04:46 Closing & Disclaimers ------ Resources: Preston on Twitter: https://twitter.com/PrestonPysh?s=20  The Investor’s Podcast Network: https://www.theinvestorspodcast.com/  Bitcoin Fundamentals: https://www.theinvestorspodcast.com/bitcoin-fundamentals/  Bitcoin & Bonds with Greg Foss: https://www.theinvestorspodcast.com/bitcoin-fundamentals/bitcoin-and-bonds-greg-foss/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Download the crypto meta to your brain in this weekly show. 4th Week of May, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ Topics Covered: 0:00 Intro 2:15 MARKETS 2:25 BTC Price Fear & Greed: https://twitter.com/BitcoinFear  4:48 ETH Price Fear & Greed: https://twitter.com/EthereumFear/status/1402566188144726021?s=20  7:47 ETH/BTC Ratio Episode w/ Ledger: https://shows.banklesshq.com/p/-sotn-49-the-state-of-the-charts  8:57 DeFi Action 12:08 Cooldown https://twitter.com/joel_john95/status/1402177944001269760?s=20  15:49 NFT Bubble https://protos.com/nft-market-bubble-popped-crypto-collectibles-are-over/  18:39 ETH Trading Volume https://twitter.com/RyanSAdams/status/1402240262911496192?s=20  20:10 DeFi Lending Protocols https://twitter.com/tokenterminal/status/1401901076903776260?s=20  22:00 RELEASES 24:00 Uniswap V3 on Arbitrum https://twitter.com/Uniswap/status/1400847744596598792?s=20  27:45 Graph Protocol on Arbitrum https://twitter.com/arbitrum/status/1402023407609421830?s=20  28:11 Uniswap V3 Calculator https://uniswapv3.flipsidecrypto.com/  34:33 Curve Volatility Algorithm https://twitter.com/curvefinance/status/1402673150425509890?s=21  37:00 Polygon Polygon Scan: https://twitter.com/0xPolygon/status/1402590551619162116  HopProtocol: https://twitter.com/HopProtocol/status/1397983455821041664  OKEx Withdrawals: https://twitter.com/OKEx/status/1402630589551890436  Matcha Aggregator: https://twitter.com/matchaxyz/status/1402645756834553864  42:45 NEWS 42:55 El Salvador The Bill: https://twitter.com/nayibbukele/status/1402446890466217985?s=20  Thread: https://twitter.com/CaitlinLong_/status/1401334421773504517?s=20  Volcano Mining: https://twitter.com/jack/status/1402773957653241861?s=20  1:02:25 NFTs on Aave https://metaversal.banklesshq.com/p/nfts-are-coming-to-aave  1:04:09 Bitcoin Ransomware Attacks FBI Recovers: https://twitter.com/ericgeller/status/1401973177346109443?s=20  $11M Payment: https://www.coindesk.com/ransomware-jbs-holdings-meat-producer  1:07:25 Microstrategy BTC Bond https://twitter.com/Blockworks_/status/1401881368355876868?s=20  1:13:22 Elizabeth Warren https://twitter.com/senwarren/status/1402725005113364486?s=21  Knives Out: https://twitter.com/nic__carter/status/1402755502715645953?s=20  1:20:55 Quick News Takes IRS: https://www.theblockcrypto.com/post/107590/irs-seeks-millions-in-fresh-funding-to-expand-crypto-tax-enforcement-and-hire-outside-experts  CFTC: https://www.theblockcrypto.com/linked/107769/cftc-commissioner-criticizes-defi-decries-lack-of-intermediaries  Consumer Inflation: https://www.usinflationcalculator.com/inflation/current-inflation-rates/  Amazon DeFi: https://twitter.com/CoinDesk/status/1402223350563344385?s=19  BlockFi Raise: https://twitter.com/fintechfrank/status/1402344595279822853?s=20  Ledger Raise: https://www.theblockcrypto.com/post/107775/ledger-380-million-series-c-raise-dan-tapiero-10t-fund  Solana Raise: https://www.theblockcrypto.com/post/107749/solana-labs-raises-314-million-funding-a16z-polychain-capital  Coinbase 401k: https://www.theblockcrypto.com/post/108034/coinbase-forusall-401k-advisor-crypto-retirement-accounts  1:24:30 TAKES 1:25:20 New Vision for Crypto https://twitter.com/TheStalwart/status/1401842475564687361  1:27:30 Gen Z is Coming https://twitter.com/ryansadams/status/1402462536419753985?s=21  1:29:25 Single-Sign On https://twitter.com/BrantlyMillegan/status/1402388133086367751  1:31:14 BTC Physical, ETH Digital 1:34:09 Listener Question 1:36:25 What David’s Excited About 1:38:22 What Ryan’s Excited About Panel: https://www.youtube.com/watch?v=9mUCFRu4fkk  1:40:50 MEME OF THE WEEK https://www.reddit.com/r/ethtrader/comments/nvojaa/this_is_exactly_why_i_want_to_go_bankless/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
In this special episode of Bankless, we bring on some of the best minds in the space to discuss where DeFi is and where we're headed. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ The Current State of DeFi Panel: Vance Spencer, Santiago Santos, and Spencer Noon It feels like we're living out a crucial moment in the story of Decentralized Finance. A variety of perspectives will collectively yield that we are at a tipping point, from a macro and micro standpoint. As we witness the emergence of a new technological ecosystem, the stakes and implications are ever increasing. Thus it only makes sense to bring on a panel of some of DeFi's smartest minds to hold a summit on where we are and where we're heading. This panel comprised of Santiago Santos of Parafi Capital, Vance Spencer of Framework Ventures, and Spencer Noon of the Variant Fund. In broad terms, DeFi refers to open, blockchain-based finance. The root of this stack consists of primitive financial services – the money verbs like borrowing, lending, trading, escrow, etc. It involves programming smart contracts to execute logic that transfers value on the blockchain. Within these parameters, there is infinite expressivity and room to explore. The internet of value has set itself up to be a game of optimizing capital efficiency through logic. The winners of this game will be the protocols, apps, individuals, and institutions that minimize counterparty risk while maximizing anti-fragility and resilience. The key here is finding ways to balance the values of consumer agency and protection with the power of capital efficiency. Maximalism and absolutes will be pushed to the margin as the realities of tradeoffs become increasingly apparent. DeFi, despite its youth, has shown itself to be resilient and deeply anti-fragile. Good logic doesn't break. As it matures, the growth and depth of DeFi infrastructure will demonstrably contribute to its Lindy effect. The total addressable market (TAM) of this ecosystem difficult to quantify, as it is a non-zero game that currently encapsulates the entire global economy at present. Conversations like these should leave an informed viewer feeling optimistic, inspired, and determined to face the obstacles ahead with resolve and conviction. ------ Resources: Vance on Twitter: https://twitter.com/pythianism?s=20  Santiago on Twitter: https://twitter.com/santiagoroel?s=20  Spencer on Twitter: https://twitter.com/spencernoon?s=20  ------ Topics Covered: 0:00 Intro 4:00 Santiago, Vance, and Spencer 5:40 What is DeFi? 12:01 Can't Be Evil 17:10 Total Addressable Market 20:39 DeFi Eating the World 24:50 Capitulating Institutions 31:26 Regulatory Winter 34:39 Stablecoins and Yield 44:36 El Salvador & Usability 49:30 Uniswap V3 57:51 Layer 2 Madness 1:05:21 Being About That Life 1:09:10 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
In this week's State of the Nation, we bring on UpOnly co-host Brian Krogsgard (AKA LedgerStatus) to teach us about the charts. This is the official Bankless TA episode 📈 State of the Nation is live-streamed on the Youtube Channel – Tuesdays at 11am PT. This week's episode is airing two hours early -- 9am PT / 12pm ET ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ State of the Nation #49: The State of the Charts Guest: LedgerStatus Bankless is not a trading or market-specific podcast by any means, but the chaos we have observed in the markets over the past several months warrants discussion. So we brought on Brian Krogsgard (AKA Ledger Status) to help us understand the price action in the markets from a variety of perspectives. Brian is a host on the Ledger Status and UpOnly podcasts, and co-founder of the FlipMetrics data platform. Brian introduces the concept of investing and trading as a pyramid -- at the bottom of the pyramid lies fundamentals and an overall investing thesis. As one moves up the pyramid, the time frames become increasingly shorter, and at the top are the pure psychological and analytical-based trades. Having sound plans throughout this pyramid is what makes for strong investing. Fundamentals, narratives, and tactics form a holistic approach which dictates how you should execute rotations and denominate wealth. Ledger screens by fundamentals, and enters by technicals, while keeping the tactical side of things as simple as possible to avoid "analysis paralysis." The technical top of the pyramid is influenced by market psychology, and is inherently chaotic and more difficult to grasp. With a broad approach to playing this money game, Brian went down the DeFi rabbit hole throughout the course of 'DeFi Summer' in 2020. The object of this game is a quest to get more ETH. Although there are countless ways to view a chart, these 'horoscopes' can easily become self-fulfilling prophecies when it comes to aggregate market psychology. ------ Resources: Ledger on Twitter: https://twitter.com/ledgerstatus?s=20  Flip Metrics: https://flipmetrics.com/  UpOnly: https://uponly.tv/  Ledger Status Podcast: https://ledgerstatus.com/  ----- Topics Covered: 0:00 Intro 7:12 Brian Krogsgard aka Ledger 10:53 The DeFi/Miami Rabbit Hole 15:35 Trading, Narratives, and Fundamentals 22:25 The Work of Savvy Investing 27:41 The Approach 36:30 Diving into the Charts 39:40 The BTC Death Cross 42:15 Ledger's Favorite Charts 45:23 Moving Averages 51:43 Where do I wanna buy? 55:26 Decoupling, Dragging, & PR 1:03:59 Visualizing 2017 and Psychology 1:08:00 The Not So Happy Scenario 1:11:00 The Happier Scenario (For ETH) 1:15:00 ETH / DeFi Ratio 1:20:28 DeFi's and Tech Growth Stocks 1:25:55 Flip Metrics 1:28:27 So... Up or Down? 1:35:15 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Vance Spencer returns to Bankless to refresh his takes from his last appearance, 'The Bull Case For DeFi.' His predictions have held up exceptionally well, and listen in as he takes us through what Layer 2 means for the DeFi space. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-defi-verticals  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ 📣 KYBER | DeFi’s First Dynamic Market Maker Protocol https://bankless.cc/kyber  ------ Bankless Podcast #68 - DeFi Verticals Guest: Vance Spencer Framework's Vance Spencer returns to Bankless nine months after his first appearance, 'The Bull Case for DeFi.' A lot has happened in the space since then, but his perspective holds up as salient and sharp. He and investing partner Michael Anderson have built a venture fund that invests in people. With a healthy mix of on-chain and venture investments, Framework has consistently led as a thesis-driven firm with a clear focus on DeFi. Primitives, aggregators, and apps comprise a diverse and thoughtful portfolio representing a successful past and bullish future. It is increasingly apparent that capital efficiency is the game that DeFi projects are playing to gobble up market share. Vance brings a uniquely holistic approach to investing in the space, discussing the verticalization of DeFi and seeking projects that leverage the smart contract money legoes to optimize front ends. The space's growth depends on building out payment rails, optimizing MEV, and exploring the world of rollups as a massive upgrade to the DeFi Sandbox. Stay tuned for hot predictions towards the end – this is somebody to listen to. ------ Topics Covered: 0:00 Intro 6:00 Vance Spencer of Framework 9:15 Accelerating Innovation & TVL 12:25 Bullish Bear Market 15:00 Optimism, ETH, and BTC 20:11 Long-term Market Cycles 24:23 Speculation, Value, and Resilience 29:06 Narratives and Volatility 35:41 The DeFi Sandbox Today 42:14 What to Build Next 47:30 Institutional Aave 51:40 Enterprise Blockchain 56:03 Regulation 59:54 DeFi Layer 2 Summer 1:09:57 Derivatives & Games 1:13:30 Layer 2 Implications 1:19:40 Multi-Chain DeFi 1:23:44 Ultra-Sound Values 1:28:29 Eating the World 1:31:40 Information and DAOs 1:37:02 Be About That Life 1:42:00 Predictions 1:48:18 Framework Ventures 1:50:54 Closing & Disclaimers ------ Resources: Vance on Twitter: https://twitter.com/pythianism?s=20  The Bull Case for DeFi: https://newsletter.banklesshq.com/p/the-bull-case-for-defi-vance-spencer  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Download the crypto meta to your brain in this weekly show. 4th Week of May, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣 KYBER | Dynamic Market Maker for Liquidity & Exchange https://bankless.cc/kyber  ------ Topics Covered: 0:00 Intro 1:39 MARKETS 1:50 BTC Price. Death Cross? https://rektcapital.substack.com/p/bitcoin-death-cross-coming-soon  6:55 ETH Price Monthly: https://twitter.com/coinalyzetool/status/1399647743602212866?s=20  Exchanges: https://twitter.com/mskvsk/status/1400379607786962944?s=20  12:37 ETH / BTC Ratio 13:53 DeFi Action DPI Inflows: https://twitter.com/AlphaLemonade/status/1399843969366827010?s=20  19:20 DEX Volume https://twitter.com/DocumentEther/status/1399304548745842688?s=20  20:40 Uniswap Volume Dominance: https://twitter.com/haydenzadams/status/1398757151850573830?s=20  V3 Competition: https://twitter.com/haydenzadams/status/1398757151850573830?s=20  24:25 Flippening Tracker https://twitter.com/lars0x/status/1399734913218355201?s=20  28:15 RELEASES 29:30 Arbitrum Launch https://offchain.medium.com/introducing-arbitrum-one-our-mainet-beta-ed0e9b63b435  34:17 Coinbase, Visa, Apple, Google https://www.theblockcrypto.com/linked/106825/coinbase-links-its-visa-debit-card-with-apple-pay-google-pay  35:40 Gnosis & Erigon Client https://twitter.com/gnosispm/status/1400092066483421186?s=21  36:45 Argent Uniswap Multicall https://www.argent.xyz/blog/uniswap-multicall/  38:38 MakerDAO Multi-Chain https://forum.makerdao.com/t/a-multichain-strategy-and-roadmap-for-maker/8380  41:10 NEWS 41:20 Uniswap Makes CCTV! https://twitter.com/haydenzadams/status/1400137814923218944?s=21  42:50 Yuan on Ethereum? https://www.coindesk.com/ex-head-of-chinas-digital-yuan-effort-says-cbdcs-could-operate-on-ethereum  45:40 Goldman Sachs Flippening? https://markets.businessinsider.com/currencies/news/ether-high-chance-eclipsing-bitcoin-dominant-store-value-eth-btc-2021-5-1030464237  46:17 MATIC & Bitwise https://twitter.com/BitwiseInvest/status/1399822479795838982?s=20  49:14 Virtual Land on Ethereum https://metaversal.banklesshq.com/p/how-to-get-virtual-land-on-ethereum  52:25 Bitcoin Car https://twitter.com/NBCSportsPR/status/1400109891952549889?s=20  55:07 Bitconnect Charged https://www.sec.gov/news/press-release/2021-90  56:20 India Rolling Back Regulations https://twitter.com/balajis/status/1399368671194091520?s=20  57:22 News Quick Bites Beacon Chain: https://twitter.com/sassal0x/status/1399734788601171972?s=20  Circle Investment: https://cointelegraph.com/news/stablecoin-company-earns-record-level-investment-sum-for-a-crypto-outfit  Unicode ETH Character: https://twitter.com/drakefjustin/status/1397930556763955200  1:00:00 TAKES 1:02:00 Crypto Pays to be Online https://twitter.com/cooopahtroopa/status/1398053971718152193?s=21  1:03:55 Long or Short Civilization https://twitter.com/hamandcheese/status/1398370867344781323?s=20  1:07:30 Price Affects Security https://twitter.com/drakefjustin/status/1400137477680209921?s=20  1:09:26 Price Equals Security https://twitter.com/scott_lew_is/status/1400165219364708356?s=20  1:12:03 Decoupling over Eras https://twitter.com/zhusu/status/1400334090323206144?s=20  1:14:30 What David’s Excited About 1:18:04 What Ryan’s Excited About 1:21:48 MEME OF THE WEEK https://twitter.com/nanexcool/status/1398260516582211585?s=20  1:22:45 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Arbitrum is one of Ethereum's hottest L2 scaling solutions, and it has LAUNCHED ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ WE'RE HIRING AN EDITOR: https://cryptocurrencyjobs.co/marketing/bankless-editor-writer/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ 📣 KYBER | DeFi’s First Dynamic Market Maker Protocol https://bankless.cc/kyber  ------ State of the Nation #48: Arbitrum LAUNCH Guests: Co-Founder & CEO: Steven Goldfeder CTO: Harry Kalodner Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies. Harry Kalodner is Co-Founder and Chief Technology Officer at Offchain Labs, where he leads the engineering team. Before Offchain, he attended Princeton as a PhD candidate, where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies. Arbitrum released its Mainnet for Developers last Friday. This is an EVM-Compatible Layer 2 Optimistic Rollup, which allows for scaling Ethereum's app layer without sacrificing layer 1 Ethereum security & consensus. This is a massive step forward for the blockchain space and a culmination of years of technical research and testing. This is a milestone in effectively scaling blockchains, while maintaining core cypherpunk values. There are tremendous opportunities and possibilities in this new digital real estate. This hub of optimized blockspace keeps the economic security guarantees of Ethereum and poses to greatly improve the DeFi user experience. To scale to a billion users, projects like Arbitrum need to earn legitimacy and demonstrate efficacy as the Ethereum ecosystem continues to mature. In the immediate term, the next few months will be exciting to watch - will we see a DeFi Layer 2 Summer? ------ Resources: Arbitrum: https://arbitrum.io/  Arbitrum Twitter:  https://twitter.com/arbitrum?s=20  Arbitrum Discord: http://discord.gg/5KE54JwyTs  ----- Topics Covered: 0:00 Buffer 0:30 Intro 9:48 Arbitrum's Steven and Harry 13:00 Shipping A Layer 2 Product 17:51 A Fair Launch, Equal Opportunity 21:36 Migrating dApps to Layer 2 25:43 A Flourishing Ecosystem 29:17 Bridging the User Experience 33:16 Different than a Sidechain 36:50 Layer 2 ETH Fees 41:10 Resources & Scaling 47:03 Delay Period for Exiting 54:11 Complexity of Rollups 58:30 A Digital Nation-State 1:06:23 Ether is the Reserve Currency 1:11:23 Layer 2 DeFi Summer 1:16:30 Chainlink and Arbitrum 1:20:54 Squeezing the MEV Balloon 1:25:28 Predictions, DeFi Summer 1:30:50 Final Thoughts 1:36:38 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Eric Wall is a prominent thinker and contrarian in the crypto space. He has an independent mind and is unafraid to bust through groupthink and act as an ideological razor for the crypto community. In this episode, Eric dives deeply into a variety of profound takes on Bitcoin, Ethereum, and his approach to the community. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: https://podcast.banklesshq.com/  🎧 Get this Episode's Debrief:  https://shows.banklesshq.com/p/exclusive-debrief-the-altcoin-slayer  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ Bankless Podcast #66: The Altcoin Slayer Guest: Eric Wall Eric Wall is CIO of Arcane Assets, and a well-known (and often infamous) writer and thinker in the crypto space. He has engaged in arguments with camps and tribes throughout the space, remaining unapologetically independent and committed to his values. Though a Bitcoiner at heart, Eric has come around on Ethereum as the ecosystem has matured. In this episode, we dive into values and the ethos of crypto that Eric fights for. As a principled believer in trustless systems and decentralization, Eric walks through many of the big-picture obstacles and accomplishments of the crypto space. Viewing this landscape with a digital biologist's lens, we address these projects as digital organisms, following many of the same laws we see in nature. Wherever organisms exist, Darwin is nearby. Eric brings a refreshing and unfiltered set of takes to the Bankless Podcast, reminiscent of other independent thinkers we've had on like Hasu. Regardless of your opinions on Eric, he represents an important part of the blockchain conversation. He serves as an ideological razor, giving no one the benefit of the doubt and prioritizing accountability and earned legitimacy. ------ Topics Covered: 0:00 Intro 4:45 Eric Wall, the Altcoin Slayer 7:45 The Term “Trustless” 16:58 Eric’s Approach to Crypto 22:50 Networks are Organisms 31:50 Survival of the Fittest 41:50 Bitcoin vs Layer 2 59:15 Tribes vs Facts 1:06:30 Eric’s ETH Journey 1:21:43 Thoughts on Proof of Stake 1:31:14 Is ETH Money? 1:40:58 What ETH Gets Wrong 1:53:55 Navigating the Frontier 2:01:00 Closing & Disclaimers ------ Resources: Eric on Twitter https://twitter.com/ercwl?s=20  Proof of Stake is Less Wasteful https://ercwl.medium.com/proof-of-stake-is-less-wasteful-b2854a191766#:~:text=Image%20of%20a%20diesel%20generator,ever%20had%20on%20the%20platform.  ETH is Irreplaceable https://newsletter.banklesshq.com/p/eth-is-irreplaceable  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Every week(ish), David and Anthony do a Friday Weekly Livestream to chat about the week in Ethereum, the markets, and whats coming in the short term future.  Enjoy this unscripted conversation! ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Download the crypto meta to your brain in this weekly show. 3rd Week of May, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ Topics Covered: 0:00 Intro 0:45 MARKETS 1:20 BTC Price 2:13 ETH Price 7:13 ETH/BTC 8:38 ETH Volumes Big https://twitter.com/RyanWatkins_/status/1397385373580398594?s=20  10:18 DeFi Action https://defipulse.com/  https://messari.io/asset/defipulse-index  https://www.tradingview.com/symbols/DPIWETH/?exchange=UNISWAP  12:39 The System Didn’t Break https://twitter.com/raoulgmi/status/1397172575810228225?s=21  16:15 Big Week for DeFi https://twitter.com/jack_clancy93/status/1395399566644682757?s=20  17:18 Tornado Flippen Zcash? https://twitter.com/ameensol/status/1395534483202269187?s=19  21:52 YFI Price Earnings https://twitter.com/bantg/status/1396457032996245505?s=20  24:05 Stablecoin Settlements Big https://twitter.com/dmihal/status/1397124171050668033?s=20  26:00 RELEASES 28:00 Arbitrum Launching https://www.coindesk.com/ethereum-scaler-arbitrum-is-launching-friday-with-developer-support-from-alchemy  31:10 Uniswap on Arbitrum https://twitter.com/haydenzadams/status/1397675094001045508?s=21  32:42 Optimistic Etherscan https://optimismpbc.medium.com/integrating-etherscan-24a3811a765c  34:45 ETH’s Value on L2 https://twitter.com/hiljis/status/1397697744370900994?s=21  42:15 Polygon SDK https://twitter.com/0xPolygon/status/1397558139256377345  44:38 Gitcoin DAO https://shows.banklesshq.com/p/-sotn-47-gitcoin-dao-and-gtc-token  46:11 Coinbase Institutional https://blog.coinbase.com/coinbase-institutional-is-proud-to-announce-the-unveiling-of-our-new-prime-offering-9790e068f0a9  47:20 NEWS 47:30 Carl Icahn: ETH is Money https://www.zerohedge.com/crypto/crypto-here-stay-carl-icahn-may-take-relatively-big-stake-digital-currency-space-prefers-eth  50:44 Ray Dalio Prefers BTC to Bonds https://www.bloomberg.com/news/articles/2021-05-24/bridgewater-s-ray-dalio-says-he-prefers-bitcoin-to-bonds  53:19 “China Bans Bitcoin” https://www.cnbc.com/2021/05/26/major-china-bitcoin-mining-hub-lays-out-harsher-crackdown-measures.html  57:44 Cuban Tracker: Polygon https://www.coindesk.com/mark-cuban-invests-in-ethereum-layer-2-polygon  59:51 Gamestop NFT https://nft.gamestop.com/  1:02:24 Bitcoin, Michael Taylor, and Elon https://twitter.com/michael_saylor/status/1396915801492439044?s=20  Take:  https://twitter.com/nanexcool/status/1397000162459930624?s=20  1:07:15 Businesses Must Report https://www.coindesk.com/us-treasury-calls-for-businesses-to-report-crypto-transfers-of-10k-to-the-irs  1:10:14 FED Digital Currency https://twitter.com/CNBCnow/status/1395440279004618760?s=20  1:12:08 Coinbase 🤝 Goldman https://www.theblockcrypto.com/linked/105853/coinbase-former-goldman-sachs-faryar-shirzad-chief-policy-officer  1:13:35 Quick Bites  PayPal: https://www.coindesk.com/paypal-will-let-customers-withdraw-crypto-exec-says  Apple? https://www.coindesk.com/apple-is-looking-for-crypto-experience-in-alternative-payments-job-post?amp=1&__twitter_impression=true&s=09  1confirmation: https://www.coindesk.com/crypto-vc-1confirmation-raises-125m-for-third-fund  COIN: https://www.cnbc.com/2021/05/24/coinbase-stock-initiation-goldman-sachs.html  1:16:00 TAKES 1:17:00 Anti-Crypto Bag Bias https://twitter.com/cburniske/status/1395457904027869184?s=21  1:23:25 Volatility is not Unhealthy https://twitter.com/MichaelIppo/status/1395452094556086285?s=20  1:24:00 DeFi Protocols are Michael Saylor https://twitter.com/RyanSAdams/status/1397161855387308032?s=20  1:27:50 Money Game Landscape https://newsletter.banklesshq.com/p/ethereum-the-money-game-landscape  1:29:40 The Cycle https://twitter.com/tbr90/status/1397185395603935232?s=21  1:32:23 Rethink Work https://twitter.com/nateliason/status/1397719837204418561?s=20  1:33:52 There be Monsters https://twitter.com/udiWertheimer/status/1397738091452981248?s=20  1:35:40 What David’s Excited About 1:38:00 What Ryan’s Excited About 1:41:45 MEME OF THE WEEK https://twitter.com/EthereumMemes/status/1397268903198400517/photo/1  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Liquity is a new governance-minimized stablecoin on Ethereum! Liquidity offers some competitive advantages over other decentralized stablecoins - Low collateral requirements. Only 110% collateral is required vs MakerDAOs 150% - Governance minimization. Liquity is attempting to be a protocol, not a platform. Thus, it is trying to minimize human discretion! ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ----- Resources: Liquity https://www.liquity.org/  Robert Lauko on Twitter https://twitter.com/robert_lauko?s=20  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Gitcoin is turning itself into Gitcoin DAO, governed by the community and GTC holders! Come learn all about Gitcoin DAO, GTC distribution, and the responsibilities of the governors! ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ State of the Nation #47: Gitcoin DAO & $GTC token Guest: Kevin Owocki In this week's State of the Nation, we bring on Kevin Owocki to discuss the decentralization and DAO-ization of public goods funding platform Gitcoin, and the launch of their $GTC token. Kevin is the former benevolent dictator (CEO) of Gitcoin and a General in the war against Moloch (human coordination failure). The purpose of Gitcoin is to provide a platform for open-source software developers to acquire funding for their projects. Kevin mentions that open-source creates $500B in economic value yearly. In the crypto space, and on the internet at large, open-source development means that something is free to use, fork, or build on. This accessibility has been a driving force behind web development, and Gitcoin's mission is to create a business model for open-source software developers. Gitcoin has raised around $20M since its initial launch in November 2017. Gitcoin DAO is seeking to meme itself into the Quadratic Lands, where public goods are well-funded and digital democracy reigns. As Gitcoin has grown, it has come to the point in which a DAO is more well-served for Gitcoin's goals of activism and open-source development. Anti-fragility and distributing points-of-failure are key benefits of transitioning into a DAO. The alignment of incentives between the individual and society is crucial for optimizing capital efficiency and organically generating a better society. GTC = Grow The Community ------ Resources: Coordination Failures https://newsletter.banklesshq.com/p/know-thy-enemy-coordination-failures  Claim GTC https://newsletter.banklesshq.com/p/-alpha-alert-claim-gitcoin-token  Gitcoin https://gitcoin.co/  Quadratic Lands https://gitcoin.co/quadraticlands/  Kevin on Twitter https://twitter.com/owocki?s=20  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Phil Daian is a researcher and software engineer and is leading the charge into mapping MEV with the Flashbots Project. Georgios Konstantopoulos and Charlie Noyes are both partners at Paradigm. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-cryptos-existential  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ Bankless Podcast #66: MEV Panel Guests: Charlie Noyes, Phil Daian, & Georgios Konstantopolous In this State of the Nation, we bring on big-brain experts behind projects like Paradigm and Flashbots to explain the complex but critical topic of MEV - commonly known as Miner Extractable Value, but as discussed in this episode, Maximum Extractable Value is a more appropriate descriptor. MEV is arguably the single most important unsolved problem in the crypto space. In the context of incentives and network security, MEV generally refers to the ability of miners & validators to take advantage of their position as securers of the network. Blocks are verified by single entities, and these block producers have tremendous power when they are the ones adding a particular block to the blockchain. We refer to this instance as ‘God-Mode,’ in which a node has the power to assemble & order transactions at will. The threat here is the potential gaps between what is best for the network and what is best for the node. As an internal and unbounded threat to blockchains, solving the problems that MEV presents is critical to maintaining proper consensus and ensuring decentralization and permissionless access. We take a deep dive into potential solutions, and the impact of EIP-1559 and Proof-of-Stake on MEV. Dive in to learn why despite the challenges ahead, Charlie says: “In the absence of certainty, I’m willing to take the optimistic perspective.” ------ Resources: Phil on Twitter https://twitter.com/phildaian?s=20  Georgios on Twitter https://twitter.com/gakonst?s=20  Charlie on Twitter https://twitter.com/_charlienoyes?s=20  Exploring Ethereum’s Dark Forest with Dan Robinson https://youtu.be/MtpRDqrCfbc  Investing in DeFi Paradigms with Charlie Noyes https://youtu.be/dQOhbb5HmLA  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Download the crypto meta to your brain in this weekly show. Rug Week. 3rd Week of May, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​  ------ Topics Covered: 0:00 Intro 4:08 MARKETS 4:18 BTC Price 5:25 ETH Price 6:50 ETH/BTC 8:05 Going a Full Cycle 12:00 What Caused the Dip? https://twitter.com/BTCization/status/1395053801061634049?s=20  18:40 The Rektoning https://twitter.com/dytfin/status/1395007097461477379?s=21  20:30 Now vs 2013 https://twitter.com/raoulgmi/status/1395150660660862987?s=21  22:20 Exchange Outages https://www.theblockcrypto.com/linked/105366/exchanges-outages-market-volatility-eth  22:57 DeFi Action 24:26 Greed & Fear Index https://alternative.me/crypto/fear-and-greed-index/  27:00 EIP-1559 Bullish https://twitter.com/hasufl/status/1395006497164308480?s=20  29:07 RELEASES 30:30 Uniswap V3 Success https://imgur.com/H53upPS  33:50 Slingshot Launch https://app.slingshot.finance/trade/m/MATIC/USDC  35:14 Coinbase Wallet Extension https://twitter.com/coinbase/status/1394369329408454668?s=20  37:05 Miso https://miso.sushi.com/  41:40 NEWS 41:55 Erratic Elon Musk https://twitter.com/elonmusk/status/1393995872413888518?s=20  https://twitter.com/elonmusk/status/1395352073550532613?s=20  48:07 The Rise of Polygon https://twitter.com/SushiSwap/status/1393215036076658688?s=20  https://www.delphidigital.io/reports/polygon-the-swiss-army-knife-of-scaling-solutions/  https://twitter.com/0xPolygon/status/1395047808860708870?s=20  57:48 Sleuthing Mark Cuban https://twitter.com/0xBay/status/1393987720649662464?s=20  58:38 Cathie Wood & ETH https://twitter.com/RyanSAdams/status/1394761387302432769?s=20  59:50 Ebay NFT Sales https://www.theblockcrypto.com/linked/104508/ebay-offering-nft-sales  1:00:18 BlockFi BTC Oops https://www.coindesk.com/blockfi-botches-promo-outsized-bitcoin-reward-payments  1:02:15 China Crypto Stance https://www.theblockcrypto.com/linked/105190/china-self-regulatory-organizations-crypto  1:03:25 Bank of America on Ethereum https://blockworks.co/bank-of-america-leans-into-blockchain-to-speed-settlements/?oly_enc_id=9918E2523689A0T  1:04:05 Wells Fargo & Crypto? https://cointelegraph.com/news/wells-fargo-investment-institute-to-onboard-crypto-clients-by-next-month  1:04:22 BSC Instability https://twitter.com/ProofOfBags/status/1395235478216060935?s=20  1:06:40 News Quick Bites https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-10m-in-bitcoin-at-average-price-of-43-663_05-18-2021  https://thedefiant.io/yearn-finance-seizes-dip-and-buys-back-1-47m-of-yfi-token/  https://twitter.com/ProofOfBags/status/1395235478216060935?s=20  https://twitter.com/argentHQ/status/1394584739160469504?s=20  https://blog.deversifi.com/deversifi-closes-oversubscribed-round-lead-by-parafi  https://www.coindesk.com/defi-dashboard-zapper-raises-15m-to-build-on-platform-app-store  1:09:40 TAKES 1:11:00 DeFi Summer Round 2 https://twitter.com/rewkang/status/1394788692749922304?s=21  1:15:48 Dave Portnoy & Meme Coins https://twitter.com/stoolpresidente/status/1394379356487757834?s=20  https://twitter.com/RyanSAdams/status/1394402282658308100?s=20  1:18:48 Volatility Scares Institutions https://www.bloomberg.com/news/articles/2021-05-17/elon-musk-is-now-blowing-up-the-wall-street-case-for-bitcoin  1:20:05 What David’s Excited About 1:21:17 What Ryan’s Excited About 1:23:10 MEME of the Week https://twitter.com/NeerajKA/status/1395344179371421697?s=20  https://twitter.com/DocumentEther/status/1394982948085116932?s=20  1:24:15 Closing & Disclaimers ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Mark Yusko has been at the forefront of institutional investing throughout his career, in both the legacy and crypto. He is the Founder, CEO and Chief Investment Officer of Morgan Creek Capital Management. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​  ------ Bankless Podcast #65 - Crypto, Legacy, and Value Guest: Mark Yusko Mark W. Yusko is a seasoned investor in both traditional and crypto finance, and is the managing partner of Morgan Creek Capital. Notably, he is also an avid fan of Pokemon Go. In this episode, Mark provides a deep and logical basis for a sound decision matrix in the world of investing. He emphasizes broad narrative context, addressing themes reminiscent of our episode with historian Joshua Rosenthal on 'The Crypto Renaissance.' Mark explores the speculative frenzy in the markets and how it is indicative of a fiat-based financial system that has run its course. Continuous printing has gameified the economy, and crony capitalism has created an environment where you are either in or you're out. If you're in, then you're an incumbent who is incentivized to maintain the status quo. The centralization of power makes progress hard and proper equity even harder. As a long-term investor who prioritizes values & principles, Mark discusses money as a shared illusion, and notes that value is relative. He presents salient takes on crypto's role in the broad shifts driven by the inevitable failing of incumbent institutions. His worldview feels compatible with the Bankless narrative, and towards the end of the episode, we discuss how Ethereum fits into all of this. ------ Resources: Mark on Twitter: https://twitter.com/MarkYusko?s=20  Morgan Creek Capital: https://www.morgancreekcap.com/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Download the crypto meta to your brain in this weekly show. Rug Week. 2nd Week of May, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​  ------ Topics Covered: 0:00 Intro 3:18 MARKETS 3:30 BTC Price 5:13 ETH Price 9:02 ETH/BTC Ratio https://ratiogang.com/  12:17 DeFi Action 15:45 Garbage Szn https://twitter.com/lawmaster/status/1391979415547035650?s=20  20:00 ETH Market Cap https://twitter.com/documentether/status/1392355955816353793?s=21  21:00 ETH Fees https://twitter.com/LucasOutumuro/status/1392152205323603970?s=20  22:11 Justin Drake Analysis https://twitter.com/drakefjustin/status/1391998216044953601?s=20  https://docs.google.com/spreadsheets/d/1U9cGxGY3_t7m4MEIpjKWtRcA2zRajywaxMCZYqbF9eI/edit#gid=0  29:30 RELEASES 30:40 Dfinity Internet Computer https://www.theblockcrypto.com/linked/104146/dfinity-launches-internet-computer  35:45 Balancer V2 https://medium.com/balancer-protocol/the-most-flexible-and-efficient-amm-is-live-meet-balancer-v2-2451a22779b3  37:48 Arbitrum Mainnet for Devs https://twitter.com/arbitrum/status/1392568807995097089  40:37 BTCx2 FLI Index Coop https://medium.com/indexcoop/introducing-the-btc-2x-flexible-leverage-index-38688749b1ab  43:10 NEWS 43:30 Elon Rug Pull https://twitter.com/elonmusk  45:56 Vitalik Rugs for Charity https://twitter.com/hudsonjameson/status/1392554160952905728?s=21  50:50 Vitalik: UNI should be Oracle Token https://twitter.com/BanklessHQ/status/1392313805955162113?s=20  55:40 VanEck files for ETH ETF https://twitter.com/EricBalchunas/status/1390738518536769543?s=20  56:20 $1B in Volume https://twitter.com/ukolodny/status/1390601561173381125  https://twitter.com/kwenta_io/status/1390038926006624257  57:16 Sushi swipes UNI url https://twitter.com/TheBlock__/status/1391950806857965574?s=20  58:50 Yearn drops WOOFY https://cointelegraph.com/news/yearn-finance-surges-45-as-it-joins-dog-pack-with-woofy  1:03:04 CryptoPunks Christie’s Auction https://decrypt.co/70609/cryptopunks-christies-sale  1:06:03 Taproot Activation https://www.coindesk.com/bitcoin-taproot-activation-begun-miners-3-months-onboard  1:08:39 GBTC 20% discount https://www.theblockcrypto.com/linked/104801/gbtc-record-low-over-20-discount  1:10:08 Tom Brady Laser Eyes  https://twitter.com/TomBrady?s=20  1:10:30 Binance IRS & DOJ  https://www.theblockcrypto.com/linked/104836/binance-crypto-irs-us-government-investigation-report  1:16:20 TAKES 1:18:20 Everyone gets a private key! https://twitter.com/BrantlyMillegan/status/1389270115884097536  1:22:37 No fees, no validators https://twitter.com/wongisrite/status/1391924914567876609?s=20  1:27:27 Ethereum Distributing Wealth https://twitter.com/santiagoroel/status/1392325085407563784?s=21  1:31:50 Fed’s Playing with Fire https://www.wsj.com/articles/the-fed-is-playing-with-fire-11620684980  1:33:48 Ultra Sound Community https://twitter.com/ultrasoundmoney/status/1391746346076540932?s=20  1:35:28 MEME of the Week https://www.reddit.com/r/ethtrader/comments/nb7tgh/its_done_boiz/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Su Zhu and Kyle Davies are legendary crypto investors & founders of crypto hedge fund Three Arrows Capital. They join the State of the Nation to discuss the bullish case for ETH. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ 📣 UPSHOT | Become an NFT Appraiser! https://bankless.cc/upshot  ----- State of the Nation #46: The ETH Trade Guests: Su Zhu & Kyle Davies Su Zhu & Kyle Davies are renowned investors in the crypto space, and in this episode of State of the Nation, the Three Arrows Capital co-founders come on Bankless to discuss ETH as an investment, and more broadly, Ethereum as an ecosystem. They describe themselves as 'on-chain' maximalists, and we dive into how Ethereum boasts impressive on-chain metrics and its strong, fundamental narrative. Big money likes productive assets, and ETH is proving itself to be highly productive as a capital asset. We discuss the flippening of Ether & Bitcoin, and the opportunity for it in this cycle. Su & Kyle make it clear that institutions are coming around on Ethereum, and the scope of the ecosystem is such that any EVM-compatible (composable with the Ethereum Virtual Machine) is in turn bullish for ETH. Ethereum has painted six weekly green candles in a row and is indisputably red-hot at the time of this recording. Despite the bullish narrative, it remains difficult to properly measure the magnitude of this move. The inevitable unknowns do not frighten Three Arrows Capital, who explore denominating net worth in Ether. All in all, they leave us with some of the most bullish projections we have ever seen on the Bankless podcast. ------ Resources: ZhuSu on Twitter: https://twitter.com/zhusu?s=20  Kyle Davies: https://twitter.com/kyled116?s=20  Three Arrows Capital: https://www.threearrowscap.com/  ------ This Week on Bankless: ⚒️ TACTIC TUESDAY | RAI Arbitrage Opportunities https://newsletter.banklesshq.com/p/how-to-make-money-from-rai-arbitrage  📈 MARKET MONDAY | The ETH Trade https://newsletter.banklesshq.com/p/the-eth-trade-market-monday  🎙️ PODCAST | Legitimacy with Vitalik Buterin (5/10) https://shows.banklesshq.com/p/-legitimacy-vitalik-buterin  🧢 WEEKLY RECAP | Bankless DAO is Born (5/8) https://newsletter.banklesshq.com/p/bankless-dao-is-born-weekly-recap  🗞️ WEEKLY ROLLUP | Uniswap V3, Bankless DAO (5/7) https://shows.banklesshq.com/p/-rollup-uniswap-v3-btc-in-bank-accounts  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
Vitalik is back on Bankless to discuss his recent blog post: The Most Important Scarce Resource is Legitimacy. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-legitimacy-with  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ 📣 UPSHOT | Become an NFT Appraiser! https://bankless.cc/upshot  ----- Bankless Podcast #64 - Legitimacy Guest: Vitalik Buterin Ethereum co-founder Vitalik returns to Bankless – "the greatest Ethereum podcast" – for a deep dive into one of his recent blog posts, titled "The Most Important Scarce Resource is Legitimacy." The catalyzing example for Vitalik's discussion of legitimacy comes from Bitcoin and Ethereum, who both have the power to mobilize a tremendous amount of capital but are restricted in how this capital is used. Vitalik posits that legitimacy is the deep and powerful social force behind this. Legitimacy is a social phenomenon that describes things that are broadly and generally accepted in a coordination system. Without ascribing moral values, legitimacy can be seen as social reality - the status quo. Legitimate things include the de facto norms and collective expectations of groups, whether you like it or not. According to Vitalik, there are a number of ways to achieve legitimacy: brute force, continuity (inertia), fairness, process, performance, and participation – these are not mutually exclusive. Cryptocurrencies and blockchain ecosystems 'earn' legitimacy by community acceptance and adoption, but the continued legitimacy of these things is dependent on maintaining that which made it legitimate in the first place: promises and proofs of decentralization & security. Vitalik turns this discussion towards funding public goods. Ethereum can't summon capital for public goods without sacrificing the decentralization and soundness that give it legitimacy. However, these expectations are not carried as strongly in the app layer. This gives the ecosystem flexibility to coordinate and provide for the health of the network beyond base layer security & decentralization. Legitimacy determines our best practices for interacting with the world – understanding and wielding the power of this concept is necessary to maximize the benefits we bring to it. ------ Resources: The Most Important Scarce Resource is Legitimacy: https://vitalik.ca/general/2021/03/23/legitimacy.html  Vitalik on Twitter: https://twitter.com/VitalikButerin?s=20  Vitalik's Blog: https://vitalik.ca/  Vitalik's Bankless Appearances: https://youtube.com/playlist?list=PLmkdAgtxf3agqnA5IieA7OkKBjlhx9mn-  ------ This Week on Bankless: 🧢 WEEKLY RECAP | Bankless DAO is Born (4/24) https://newsletter.banklesshq.com/p/ethereum-bonds-weekly-recap  🗞️ WEEKLY ROLLUP | Uniswap V3, Bankless DAO (5/7) https://shows.banklesshq.com/p/-rollup-uniswap-v3-btc-in-bank-accounts  🧠 THOUGHT THURSDAY | Crypto Pawn Shops (5/6) https://newsletter.banklesshq.com/p/the-evolution-from-crypto-pawn-shops  ✏️ WRITER WEDNESDAY | The Never Sell Plan (5/5) https://newsletter.banklesshq.com/p/the-never-sell-plan  🏴‍☠️ STATE OF THE NATION | Chainlink 2.0 God (5/4) https://shows.banklesshq.com/p/-sotn-45-chainlink-20-with-chainlink  🛠 IT’S TIME FOR BANKLESS DAO(5/4) https://newsletter.banklesshq.com/p/its-time-for-bankless-dao  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 
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Comments (3)

Josh Er

nope,this guest makes too many grandiose general statements that are easily proven wrong with a little research.

May 22nd
Reply

Valutrus Capital

great episode. thanks

Apr 11th
Reply

Brendan Sharkey

⭐️⭐️⭐️⭐️⭐️

Jul 6th
Reply
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