Thread by @hunterorrell

🚨🚨ALPHA ALERT🚨🚨
Woah, ok so @iamDCinvestor @sassal0x and @TrustlessState went absolutely off yesterday on the @thedailygwei Friday livestream. They covered so much ground on $ETH. Absolutely worth a listen. Here is a thread of the biggest takeaways / compilation of resources

First off if you haven't you need to also give the @hasufl uncommoncore.co podcast with @zhwuss and @CryptoCobain. They discuss the bull case for $ETH showing that bears are changing opinions and realizing that 1559 and PoS ARE going to happen and what it means for ETH

To add to that, 1559 has a date: July 14th 2021. And we should expect to see PoS within the next year possibly in 2021. Going to see FOMO as people/institutions realize and want to have 32 $ETH to stake and earn return

The Triple Halving: @SquishChaos came out with a 79 page report on his $ETH bull case which is full of amazing research and how post-merge, $ETH sell pressure will drop 90%. For $BTC sell pressure to reduce this much, it takes 3 halving events

As more people like @econoar continue to change price targets (@econoar changed his from $2,500 to $15,590) its important to realize we cant just yeet to $100,000 as it will come right back down. $ETH needs a slow steady climb to hold higher prices

A huge topic of this livestream was #theflippening and if it happens and what the impacts are. $BTC being dethroned would be a huge hit to the brand. But even if $ETH does flip $BTC it does not mean it stays there. $ETH needs to continue to earn value to maintain the #1 position

From trust minimized layer 2s to settlement back to layer 1 of smart contract based assets $ETH can be used in so many ways. More and more people are viewing $ETH as a productive asset vs $BTC which is not.

There is no ETH1 dev team or ETH2 dev team. It is just ETH.

After the merge the APY for staking $ETH will be 25% in $ETH terms. All fee revenue that isn't burned then goes to stakers. This APY will change based on how many people are staking and fees but it is going to be appetizing to many people to participate

Know your memes: $ETH is ultra sound money (🦇🔊). After PoS and 1559 you can say $ETH has no supply floor - technically the supply can just keep going down forever.

On the topic of supply, an asset cannot just have a fixed supply and that makes it valuable. It needs to have the demand side, as well. And $ETH doesn't want a supply cap because it is a security issue because you end up relying on fees for issuance to miners or stakers...

so if you have fee revenue higher than the block subsidy it leads to instability of the chain and perverse incentives: enter 1559

‼️1559 combined with $ETH app layer is why the real magic happens though. The app layer generates economic volume for 1559 to capture #fundamentals

And as @CryptoCobain mentions in the UCC podcast, crypto investing is like in a post world truth - its pure narrative chasing and everyone trades on what they think reality is. This leads to chasing in the short term, however, in the long term fundamentals matter

I love @iamDCinvestor analogy that layer 2s are like skyscrapers. They increase the density of what's possible on layer 1. Same space a few txs happen can now fit 100s-1000s. 🚨🚨🚨 meaning those rollups will be willing to pay even more in fees 🤯 so burning potential is crazy

another @iamDCinvestor gem: betting against $ETH is to bet against the ingenuity of a community that is willing to address really hard problems. $ETH wants to change and improve. There are so many good things $ETH didn't start but adopted once it was identified as viable

Binance onboarding people to use BSC is a really good thing actually because they are onboarding them to metamask, which onboards them into $ETH eventually.

Credible mutuality is such an underrated aspect. Coinbase will not bridge with Binance but they will bridge with credibly mutual platforms like $ETH. @iamDCinvestor is posting a blog post soon that talks about this comparing rise of $ETH to internet

On top of credible mutuality, legitimacy is an even more powerful force inside the crypto space. @VitalikButerin has a great blog post: vitalik.ca/general/2021/0…
and there is also a great @BanklessHQ episode recorded yesterday (4/29) that goes deeper into the idea.

quick plug for another upcoming @BanklessHQ episode. They will have a historian coming on to compare the 1400s resonance to what he is calling the "Crypto Resonance". Definitely worth a listen

Big shoutout to @iamDCinvestor @sassal0x @TrustlessState for putting out a banger. I hope this summary helps some people learn something. If you haven't already follow them, as well as, @thedailygwei. And if you enjoyed this summary consider giving me a follow!