Welcome to Bankless, where we explore the frontier of internet money and internet finance.

This is how to get started, how to get better,

and how to front run the opportunity. This is Ryan Sean Adams. I'm here with David Hoffman,

and we're here to help you become more bankless. David, we've got a super interesting topic today.

I think it's pretty ambitious as well. What are we going to talk about? We are talking all about scarcity mechanisms, scarcity games, and value accrual for ether.

But I think we're going to put this into a larger context, which in the context of the outside world where the Fed is printing $2 trillion, it seems, every other day. This is really going

to fit well in contrast to what is going on with coronavirus, with the world, with our current

financial system. We're going to compare the different scarcity mechanisms that Ether has,

and I think that's going to contrast well with the scarcity mechanisms that the dollar

perhaps does not have. Yeah, and it certainly seems to have the quality of scarcity less and less these

days. So this is going to be a really fun topic. You know, a lot of people talk about ether as a utility coin with an inability to accrue

value over time.

I think in today's episode, we're really going to take a wrecking ball to that notion

because Ether has some really interesting scarcity games and properties built into

the Ethereum network.

And three in particular we're going to focus on.

So this is going to be an ambitious episode, lots to cover, but I think super useful for

bankless listeners to understand the scarcity games in crypto relative to the traditional

financial system and then specifically to

the Ethereum economy and Ether, relative to other assets and other networks like Bitcoin.

But before we do that, let's talk about some big picture stuff that's going on.

You know, one place I want to start, David, is let's talk about what the Fed is doing

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