Why is ETH Down so bad?

[@Bankless]

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[@degenforest]

ETH is not money, ETH is Gas. Tether runs on ETH and that is the unit of account but in order to transact you need gas. Don't look at ETH as "money" look at it as the Oil needed for the whole ecosystem to operate smoothly.

[@VikingMarketer]

Tether runs on TON TRON and SOL.

[@skrrtisdoteth5509]

I didn't understand that argument from him either or why bankless didn't push back on it harder. The money is programmed ON ethereum, it's not ETH itself. But yeah I think you just mean stables in general, not Tether

[@JeremyHelm]

It's like investing in bus tickets

[@Lucas-uo9ml]

you need bitcoin to send bitcoin, bitcoin is money you need eth to eth, eth is money

[@Ccrow78789]

Turned off when he said BTC is nonsense.

[@NEOyallahbb]

Agreed. He's special.

[@RL-rh8zf]

He's on Adderall, or worse

[@MrNH718]

He's not entirely wrong though. Btc does nothing. If you're so stuck in your bubble that you turn off so quickly then it shows you're super immature. Grow up.

[@stablecoinmaxi]

BTC has failed as p2p money, which was its one and only utility. Now it's just a speculative asset that requires exponentially more hype to sustain its price, hence all the maxis are simping for BlackRock and banks to buy their bags.

[@radioshrink]

You just keep selling your ETH. There's plenty of people out there more than happy to hoover it up, and it'll remain No.2 for a long, long, loooonnngggg time.

[@onthestreets8369]

ETH has been around since the beginning, and transactions rarely fail. SOL fails with network congestion. ETH is THE BLOCKCHAIN OF BLOCKCHAINS.

[@jp6951]

This. Sony just announced an ETH L2. Ethereum has been added to Argentina's high school curriculum. Everyone and there mother is FUDing ETH while all these things are happening. Ethereum has a lower inflation than Bitcoin even after Dencun. There's a saying: Buy when there is blood in the streets. Everyone is hyping Bitcoin and Solana. Funny that Ethereum is actually better than both.

[@rivianado8430]

“Intellectually short” is a nice way of putting it. 😂

[@rof8200]

Solana isn't even decentralized 😂. They updated 70% of nodes in like a few minutes. All you guys care about is profits.

[@PedroPerez-u6p]

how many l2's are decentralized...? Thats right zero!

[@Gojkira]

Why does that mean it isn't decentralised?

[@tw106]

Bitcoin is simple and secure, which makes it ideal for storing digital money. Ethereum is complex, just like the person being interviewed, and most people don’t have a clue what he is talking about. Which is why Bitcoin will always be a much more appealing investment than Ethereum.

[@pro-indicators]

36:28 Quote: "I model transactions fee to go to zero"... Precisely the point where I figured out this isn't worth listening any longer. This guy doesn't understand the blockchain technology I guess. He's just trying to replicate previous economic models of web2 into another layer that has totally different mutated fundamentals. Public blockchain and free are just two things that will never blend together.

[@hoangtran2384]

can you elaborate more ?

[@pro-indicators]

@@hoangtran2384 Would be hard to share a comprehensive review, but a high-level overview should do it. A public blockchain is a decentralized ledger, which data is stored independantly by a large number of nodes. Compared to web2 basic notion of redundancy of data, this web3 paradigm is inherently much more costly. Assuming data cost will go to 0 based on web2 history principles is misguided to say the least. Web3 data can't be free, will likely cost relative to the level of security and censorship resistance properties desired. If you don't need these two why would you even use a blockchain ?! Use a web2 primitive with basic redundancy instead; it will always be enormously cheaper.

[@deliciashackett]

To the moon with Unimantic!))

[@masturamalek]

Ethereum's bullish trend highlights its potential to excel in the altcoin space, suggesting a valuable window for portfolio diversification. The decline in Bitcoin's dominance opens doors for Ethereum's growth, especially in a market buoyed by advanced trading tools and AI bots. I'm particularly grateful to Tobias Hawke for his guidance; his deep trading insights and commitment to current trends make her an invaluable ally in navigating the crypto market.

[@masturamalek]

Sandy Barclays program is widely available online..

[@batiaz]

If the market has taught me anything, it's that it always recovers, but I can't seem to focus on the long run, when major factors like my retirement and my reserve are wreaking havoc on inflation. I require a solid data trajectory and solution as soon as possible.

[@jchall12]

Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.

[@lihlacerda]

Indeed, the recent market downturn serves as evidence that a vast majority of individuals lacked a sufficient understanding of the underlying financial dynamics at play.

[@sophiepascoe]

Sandy gave me the autonomy I need to learn at my own pace and ask questions when I need to she’s so accommodating.

[@AbelGaming24]

You guys lost me when your guest said BTC is trash

[@OldmanCrypto100]

you're a typical BTC maxi making things up. Time stamp when he said that

[@KJN311]

@@OldmanCrypto100he did say Bitcoin is nonsense

[@davycrockett8886]

Bitcoin has no long term plan. Fees can't pay the miners and combined with the halving this is a disaster. Switching to PoS, stopping the 21 million cap will likely be a disaster for Bitcoin's meme culture.

[@mattb782]

YOU may not understand BTC but the fact remains this is the likeliest place for HUGE dollars to funnel as a gold type investment.

[@subliminal_donkey]

​​@@davycrockett8886humanity has no long term plan either. Just the same way we are now desperately trying to preserve unsustainable things like air travel, cars, air conditioning McMansions, AI etc. Bitcoin will just be another thing which we need clean (and abundant) power for.

[@jerdiego]

Love these “contrarian” episodes. When an investment is underperforming, it’s important to drill into the reasons and check whether a pivot is needed…

[@coffeemaddan]

Superb. It's good to have a guest that challenges all of the assumptions that we build our bags on. Thought provoking :)

[@algislorian]

Intellectually short btc, while financially long btc. The dude covered all bases :)

[@olabueno78]

Chat full of bots and super clickbait title…you’re losing subs my guys. Stick with solid content.

[@meisterlymanu5214]

u guys pumped and shrilled ETH for 5 yrs, dissed everything else, and now you uturn? Now Vitaliks all wrong? Now you talk about decentralization after dissing ADA for years. Talk about short termism. And "BTC is not special, but SOL ETH are not special like BTC is." .. thx for that insight.

[@lukielukie520]

Why the most important factor is missed out or not emphasized in the conversation: security! In the world of finance, maybe the security is much more paramount than usability.

[@Maf12300]

Dude, just lost credibility with the majority of people. Bitcoin is valuable so is SOL but in no way a store value or have the potential long-term.

[@rustybot4279]

Not a store of value? Pair btc with anything and zoom out. U will understand.

[@brandonbriannarosenthal1059]

Why do all Solana bulls seem to look the same lol Of course a Solana bull will have nothing good to say about ETH or BTC. Let's have an ETH bull talk about Solana and you can make the title "Is this the end of Solana?"

[@TommyBull2]

Once you use sol for months, going Back to eth is rough

[@swipernoswiping3053]

@@TommyBull2 Metamask vs Phantom was literally the reason I crossed over to Solana when I was a nub in the last cycle. Even if Eth price moons, I would still rather trade it with wrapped eth on Solana.

[@powerralley]

I'm not ready to unsubscribe, but I have been taking a break from Bankless for the last few weeks and it feels good. I will return when the content improves and the guests are respectable.

[@linkingwithnaz1295]

I think that we can all agree that the flippening narrative is dead

[@bearwolffish]

Dead at the bottom alive when it's about to rollover. Or maybe _this time it's different._

[@theonlyconstantischange123]

Lol not gonna lie, even as an eth bro this was a good laugh

[@mrocklop]

narrative may be dead, but narrative follows price. flippening will be back on the menu eventually...

[@sahawndada]

Did he actually make any strong case against BTC? Or did he just ramble nonsense

[@jp6951]

The case against BTC is POW with the finite supply is not workable long-term. Miners have already been losing thousands of dollar per BTC mined. In what world will someone keep securing a chain for others while losing thousands or millions of dollars? Whose going to stick around to secure the BTC chain in 4, 8, or 12 years. People are extremely shortsighted and don't understand or think about the problem.

[@sahawndada]

@@jp6951 your assuming energy costs are fixed and will not trend down. Your assuming BTC growth is fixed and won't trend up. Regardless I don't doubt there are cases against BTC I just felt like he didn't clearly articulate any and just tried to stay away from making a clear one

[@lagardia-tech584]

These two would shill anything for a buck .. they are shameless

[@korpiman]

yeah they are greedy crooks

[@forgotten09]

Bankless: "Kyle doesn't believe in deFi. (We do.)" Vitalik: "I'm worried about defi, they're just an ouroboros." ROFLMAO

[@markkuykendall5475]

I hold both SOL and ETH, But I only hold SOL as an investment whereas I actually have an emotional attachment to ETH. This guy's analysis didn't offend me. I hope most ETH bulls won't be butthurt by this episode.

[@MIKE_BLM_BDS_ACAB]

Glad you guys are trying to show more balanced views. It is more helpful to hear good and bad not just blind cheerleading. Loved the interview.

[@Einstein-420]

Ya, that's one of the biggest takeaways here

[@matty2258]

Big ups to Bankless for having an open mind and realizing the potential for other ecosystems, heavily respect you guys have been Ethereum based. I think this is turning a new leaf and the cultists who are trying to bring you down don't care about anything but their own bag bias and its very apparent. GREAT WORK, Solana is zoomer chain, Ethereum is the DEFI king nonetheless

[@aaronleebennett]

Personally found the whole ETH L1/L2 UX to be excellent, not sure why people are crying about it still. Tried Solana and got pissed off after 5 minutes. As for interoperability, has he not heard of CCIP, which will thread it all together without the need for bridges?

[@frankydiamond5589]

Your guests need to slow down, he speaks super fast then stutters and looks for his words like buddy needs to stop trying to sound intelligent and just speak his facts clearly.

[@Antioxidanttt]

this guy says Walmart is an inflation hedge because they raise prices when the cost of inputs, but he fails to realise that EBITDA margins have been compressed in the last 10 years

[@Trev-e5g]

I think this guy secretly loves bitcoin.

[@vladimirskovalovs8410]

thats not what the law of large numbers is

[@acpjr]

And here's where the rubber meets the road. Do end users of blockchain technology care about decentralization or not? Well, do they Bankless?

[@mfmcintyre]

Fear and uncertainty create major wealth. It's those who take the risk and have strong gut to endure the bloody days. When i notice extreme dips i tend to actually move more money to crypto

[@ufuksenol2005]

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.

[@PineHosting]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@bombasticlove76]

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@hamzahamza-bz3rf]

Any specific guide. I'm from Georgia how do I go about this? I think I'm interested how can I get in touch with Mr Brian Nelson

[@PatrickAyelle]

1:01:12 exactly here you can see the summary of this entire episode. While I do not agree with Kyle’s thoughts, the episode is about reasons why eth has “under performed” these “reasons” are mid curve. You think the crypto investors actually understand these arguments? They understand “price go up” that’s it. This is why you see HUGE discrepancies in views of daily gwei VS bitconnect shills

[@cyclona23]

Kyle is right about EF not talking to ALL customers or caring about developer experience across the board. And it's not bc of "decentralization". It's actually bc of centralization, and how Vit and a select few only cater to select blockspace customers in the ecosystem-- the ones they baghold for. It's why Eigenlayer had to lowkey buy EF devs with large token allocations. It's not a decentralized ecosystem at all, but it urgently needs to get there and ETH heads would do well to listen to this critique.

[@johndensmore7336]

This show is getting worse and worse, every episode. I definitely will not be renewing my paid subscription with them. The clickbait is getting so cringe.

[@jimmim3000]

I have no idea why anyone would say SOL is decentralized. To run your own node, you need to basically have a server, with 512 GB of RAM and a 10 Gbps fiber optic connection. What a total sheit-coin. Plus, it's supply is about 4x that of ETH.

[@VikingMarketer]

ETH is mainly also controlled by big players with the staking

[@jimmim3000]

@@VikingMarketer Wrong... a majority of the ETH validators are regular people. SOL (sheit outta luck) is only controlled by venture capitalist grifters.

[@cwpv2477]

vc unlocks still until 2028 too lmao n his money theory is complete bullshit

[@theonlyconstantischange123]

Don't understand why I'm half way through this debate and nobody has mentioned that eth and sol are not the same. Eth could've taken the sol path but decided to preserve decentralization. There's nothing fundamentally "better" about sol other than beefy nodes. So sure sol L1 captures more mev but at the expense of the one thing people would wanna use sol for Make it make sense

[@Deroxated]

Interesting takes but he's got some very strong opinions for someone whose onchain footprint is clearly minimal. No everything doesn't "WORK" on Solana

[@mudduappanervanda6837]

I think his take on BTC is wrong, having said that he does also mention that he's only intellectually short on BTC and not actually short for a very long time. I think hes right about SOL. Ive always been an eth bull, but now having used SOL and seeing the applications being built there, im starting to be more bullish SOL than eth. atleast for this cycle.

[@JohnDoe-pu5zd]

“End for eth” lmao. No wonder you all have lost respect in the ETH community. Just pander for clicks

[@anuzis]

Appreciate the great discussion! Kyle made some great points, & you guys asked great questions. Came away with several new perspectives for understanding ETH as an asset. Always good to be open to constructive criticism, & proactively seeking it out with this episode was a great call.

[@0xfiredancer]

I don't buy he's so-called intellectual shorting bullshit - too much 'theses' no substance. level up your guests next time

[@d0nmartin3z]

Ethereum is so decentralized that we keep running ir circles because every technology needs a lead.

[@captainjpz]

This guy thinks he's a special snowflake ❄️

[@MrNH718]

Can we stop with this lie that Sol is actually attracting retail? A chain whose only use is gambling on memecoin scams is not any real competitor to ETH.

[@thakopia]

Ignore the trolls, I think it's good that Bankless provides a platform to share counter-arguments. We can't just live in our Ethereum echo chamber. Hearing the other side's opinion is valuable.

[@carlfranzen043]

Bitcoin is inflation resistant but not in the way people think of it. Bitcoin rises in price when more money is created, but not when the effect of money printing comes in.

[@NightTheRapture]

Kyle used to bug me, this actually turned my opinion on him. Well thought out and articulated. Sigh, my ETH bags

[@bikedayeveryday]

Bitcoin has value because It is one of the only blockchain that will still be working in 100 years from now. Also, other blockchains are way less decentralized and are subject to failure. How many time has Bitcoin failed? 0. What about Solana? 4 times at least.

[@user-sv1uw3ru1f]

Since ETH L2 transactions are cheaper than Solana there is no use case for Solana anymore. Solana is Open finance- not decentralised finance. When trying to use Solana- sooooo many failed transactions. Over the years- I had only a few failed transactions on ETH.

[@Einstein-420]

I've never had failed transaction on either chain. Most people don't want to go through the hastle of using an L2

[@VikingMarketer]

Are they cheaper than SOL 😅😂. Also every chain can experience failed transactions. I've had it on ETH and the layer 2's

[@user-sv1uw3ru1f]

@@VikingMarketer They are. In Star Atlas You become a professional resupply button operator on Solana very quickly (push it as many times it takes). The same is with swaps. Push it baby as many times as it takes. Solana works only when very few people are using it. I agree, sometimes the transactions fail in all blockchains, but Solana is the absolute king of failed transactions.

[@Einstein-420]

@@VikingMarketer I wondered that too. Seems to me SOL is cheaper, could be wrong tho

[@user-sv1uw3ru1f]

Even Bing knows, that Solana is more expensive than ETH layer 2s since the Bubbles. “Layer 2 solutions are indeed making transactions more affordable and efficient. Currently, Solana's transaction fees typically range between $0.01 and $0.03⁴. However, Ethereum Layer 2 solutions, especially after the Dencun upgrade, have seen transaction fees drop to $0.01 or even lower⁴⁵.”

[@sj6049]

Solana changing the rails of finance. HAHAHAHA

[@kyleredfearn96]

Wait, ETH is an equity. Don’t tell Gary Gensler

[@Samar-dc5dt]

Versidium isn’t just hype; it's substance.

[@MrMegaSet]

This episode made me bullish on both Sol and Eth... Brilliant minds, really enjoyed the show!

[@ameise212]

Waiting for AI into ETH, then ETH will fly. Time is everything.

[@ninjagamer585]

Just jumped on the Versidium train and couldn't be more thrilled!

[@Steve-yz9uo]

You guys are excellent interviewers. You really need to become bigger than ethereum.

[@meysamramezani3087]

He says he doesn't care about SoV but cashflow assets only. If that's the case why is he invested in SOL anyways? It has worse cashflows than ETH or 95% of tech stocks in the NASDAQ.

[@rocketkinger2506]

Going to be honest. His perspective is kinda all over the place. Clearly not an engineer with any sense of what it takes to make great engineering.

[@yawzerdoink-a-sore-as]

He is too rich to make sense to you, you are poor lol 😂 remember?

[@cryptophkolumbus8740]

lol this guy definitely does not know how Bitcoin works...

[@peterkleynhans8056]

Just speak the truth. Solana is stealing all Eth's fire. What did you expect with Eth's crazy gas fees.

[@AkashBarik-u6m]

Versidium is set to revolutionize the investment world! So hyped to be part of this.

[@Rsdg8172]

So excited to see where Versidium takes us! This investment is pure gold.

[@modelmark]

If the state Pavel Durovs Solona, they will learn the value of decentralization

[@GodlessPhilosopher]

Why no mention of Chainlink during the interoperability discussion?

[@PatrickAyelle]

1:10:55 Important point he is making. Optimizing for value’s of failure cases. What happens when The centralized exchanges are subject to the laws of their respective nations… and those nations are playing a zero sum game?

[@vishnuvishnusingh3333]

Versidium’s ecosystem is exactly what the crypto space needs.

[@jamespeterbrannan]

Show me the incentives, and I'll show you the guest's opinion.

[@jamespeterbrannan]

It's interesting listening to Kyle talk about the need for a universal unit of account and he still doesn't get bitcoin.

[@SanjaySanjay-bg2008]

The scalability and speed of Versidium's blockchain are revolutionary. I'm so in.

[@masonsoutdoorsportsmenadve4933]

Sounds like sports commentators. Let's see how much skin he has in the game?

[@yawzerdoink-a-sore-as]

Zero

[@donTeo136]

If I convert a dollar to a Mexica peso I am changing one unit with certain rules to another unit with certain rules. Two rule sets. If i change a dollar to a bitcoin. I am changing rule sets of my money. So we decide the rule set in which we hold our value.

[@michaelmancini-un4tk]

I feel like his arguments are weak and a bit of a reach. He seems like he's just trying to go against the opinions of the majority and trying to find a way to make an argument

[@xh3b4sd]

Are you carrying the fire? Yes, yes we do.

[@tonedeftonytv1047]

Why does nobody talk about ADA? From what I've learned so far, it's amazing! Am I missing something?

[@Yadavgame-vl3ht]

Investing in Versidium was a no-brainer. This project is really sick shit!

[@bullish29]

when he saids the word "like" 1-3 times in every sentence, thus sounding like a teenage girl, its hard to take him seriously. Also, his career would not exist if not for the existence of BTC. And being a BTC bear yet owning BTC? zero credibility

[@yawzerdoink-a-sore-as]

100%

[@joelalexander928]

hardness doesn't matter when your coin in pumping

[@jeffdonald1791]

saying bitcoin is nonsense but i own bitcoin is funny - bottom line is as BTC grows it will continue to tentacle into the system with additional layers of function/utility - it will grow into a deeper network (unlike gold)

[@grantwalkersound]

I think this will be ETH's last bull run as the top smart contract platform. Solana may briefly take over, but it's also doomed in the long run. It will be something like KAS or ADA that win that game.

[@gmesncomps]

really enjoy kyle's opinions and analysis. personally fairly aligned with his thoughts

[@Royal76679]

Versidium is on its way to being listed on major exchanges immediately after ICO ends.

[@RkRaj-es1cs]

My investment strategy is presales for the highest returns, which is why I'm all in on Versidium. Versidium is the namre of the game. The key part? Getting in early, folks.

[@ffnitish996]

Versidium has at least 50-80x potential for 2024. Don´t ignore this project.

[@jastirn]

Well done, all! I appreciate the balanced perspectives and strong opinions held loosely.

[@kennethlodge7882]

why is everyone so angry at eth. did anyone buy when it dropped to 1400 dollars. if so your hold would be a lot easier.

[@GazP007]

Hard to not be bullish on Sol after that 👏🏻

[@danningeth]

but 50 uniswap forks was not decided by EF it just happens permissionless. i agree EF should talk to app dev directly and more but that is a bit wrong of an accusation of EF

[@cwpv2477]

dnt let em change the culture for short term narratives that could drive price faster

[@joelalexander928]

lol the example he gives about economic productivity of 500k vs 15k earners is basically exactly flipped IRL

[@Unvaccinatedpureblood]

Bankless guys are trying to shill for Monad. In their last interview of Monad vs. MegaEth, the MegaEth guy completely destroyed the Monad guy. So now they bring another ETH trasher. That said, I don’t take ETH’s future for granted. There is still a chance that these ETH baskets are right.

[@jeffsimoneaux5968]

Solana will be suited very soon by the SEC because it is not decentralized all and most definitely is therefore a security which falls well within United States Security and Exchange Commissions regulations and laws

[@abarev]

12:15 stopped right there. not worth to continue

[@SndeepUikey]

Versidium is a powerhouse! Excited about the future and the gains ahead.

[@darzon31]

Always interesting to hear different perspectives!

[@TheDirtySkirtz]

Everything you touch magically turns into eth David 😂 💯

[@kpcmotion]

BTC is special by definition, if nothing else than for being the first and having first mover advantage

[@SamanthaArkline-y5x]

This guys mumbles mixed with that femmy lisp millennial California thing. He lost me at “Bitcoin is nonsense”. Then why did Ethereum try and copy it with the whole “Ultra sound Money” nonsense.

[@yawzerdoink-a-sore-as]

Lol😂

[@futureforward3153]

really smart ppl all saying the same thing; number needs to go up. it matters. .