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London Real

Ethereum vs Bitcoin - Raoul Pal.

London Real

Brian Rose

Investing, Business, Technology

4.41.9K Ratings

🗓️ 27 December 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

We've had a few speakers take a stance on this duel… here's what Raoul Pal thinks about Ethereum vs Bitcoin. ⚔️

Transcript

Click on a timestamp to play from that location

0:00.0

One of the things you talked about in this in this black hole video was Ethereum versus Bitcoin.

0:06.4

And again, it was fascinating to watch you almost realizing this while you were saying and

0:11.8

showing it, and you were looking at, again, you talked about Metcalf's law, you luck talked

0:15.5

about all these data points, and what Ethereum brought to the table, and how you were just more

0:21.1

and more convinced that this quote unquote, flipping what happened, or Ethereum with long-term

0:25.7

surpassed Bitcoin, or at least there was massive value in this network. And maybe you can talk

0:30.0

a little bit about that. You know, I've been rewatching my interviews with Andreas Hansenopoulos

0:34.3

from 2015, 17, and 19. He's basically describing Ethereum before Ethereum really had the traction,

0:41.6

and he's describing this whole potential future of smart contracts and these things, but it hadn't

0:47.0

really happened yet. And then we see it happen. Tell me what you were describing in that video,

0:53.1

and what you see and your thoughts on BTC versus ETH. So it started, you know, I've been involved

1:00.0

in Bitcoin's first 2012, 2013, and I get the value proposition. I get what it is. It's perfection

1:07.2

as an asset and it's store of value. And yes, it's still too volatile to be a store of value, but it's

1:12.1

compensated by the fact that it goes up a lot. So, you know, we don't mind. We have to accept

1:16.3

the volatility. But then, you know, I was starting to become aware of smart contracts in about 2015,

1:23.1

as some friends of mine started talking about it. And I don't really understand what that was,

1:28.1

but when they explained, I started realizing the future of everything from insurance contracts

1:32.3

to legal documents to anything could now go on a blockchain. And that meant for me also with my

1:38.0

finance background, okay, that means all derivative contracts, which are complicated and messy. And

1:42.6

we knew it when Lehman blew up. Let me know who owns what? So I'm thinking, wow, okay, that's all

1:47.2

the finance. Probably there's custody and there's clearing and there's, okay, these are a lot of

1:50.8

the things. And so I reinvested in the space. I sold out in 2017 too early. I then bought again

...

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