Is The Merge Priced In? with Hal Press & Ryan Berckmans
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 17 August 2022
⏱️ 85 minutes
🧾️ Download transcript
Summary
Is the Merge Priced In? The Ethereum Proof-of-Stake Merge looms around the corner, but how do the markets feel about it?
Ryan Berckmans and Hal Press have a mutually bullish discussion about the Ethereum network today, tomorrow, and long-term. They're both bullish ETH, but differ on how it's going to play out.
This is our favorite kind of debate.
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Timestamps:
0:00 Intro
7:00 Hal & Ryan Thesis
18:28 The Merge is Happening
23:30 A Crowded Trade
29:23 Risks and Catalysts
36:10 Structural Significance
41:40 Blockspace Demand
46:40 Real vs Nominal Return
50:30 Miners vs Validators
56:00 Proof of Stake Wins
59:00 Store of Value
1:09:45 The Flippening
1:18:00 Price Predictions
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Resources:
Hal Press
https://twitter.com/NorthRockLP
Ryan Berckmans
https://twitter.com/ryanberckmans
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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.
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Transcript
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| 0:00.0 | Thank the station. I hope you are ready for another state of the nation episode where we do |
| 0:12.3 | a deep dive on an important topic. This topic is near and dear to our hearts and it's coming |
| 0:17.3 | right up. The question of the merge specifically the Ethereum merge is the merge priced in. |
| 0:23.3 | That's the question we want to get to the bottom of today. David, who do we have on? |
| 0:28.1 | What are we going to talk about? Yeah, we have two bulls, two Ethereum bulls that are both bullish |
| 0:33.2 | for the same reasons. We've got Hal Press who's been on the show before and Ryan Beckerman's |
| 0:38.4 | who's just talked a lot about this structural supply change that proof of stake brings to Ethereum, |
| 0:44.0 | just like Hal Press does. So these two bulls are looking at the same data and they're bullish for |
| 0:48.6 | the same reasons yet they differ in their time horizons. So on today on the episode we get to talk |
| 0:53.6 | about how bullish can we be? Can we be like super bullish? Or can we only be just like, you know, |
| 1:00.0 | cautiously optimistic bullish? So that's going to be the subject of today's show. I think it's |
| 1:04.5 | going to be a fun one. Especially when like, you know, usually debate formats are like, no, I |
| 1:09.0 | disagree on absolutely everything. This is, no, we agree on like all the facts and circumstances. |
| 1:14.3 | It's just a matter of time frame. The details. Yeah, the timing, the details. That's what's important. |
| 1:18.7 | I think that's what everyone's trying to figure out is like, is the merge already priced in or not? |
| 1:22.9 | Exactly. How long is it going to take for the merge to be priced in? I know Hal has some |
| 1:27.4 | fundamentals that he likes to look at and Ryan has some great insights as well. So we're going to |
| 1:31.4 | get right into it. But we also want to tell you about a event that's coming up. This is a message |
| 1:39.0 | sponsored by a smart con and our friends at Chainlink. This is a conference, David. I feel like |
| 1:45.0 | it's conference season is maybe spinning up. We've got Ethereum event in October, but we have smart |
| 1:50.8 | con at the end of September. This is happening in New York City on the 28th and the 29th. |
| 1:57.0 | What is smart con, David? And who should be looking at this event? Yeah, smart con is Chainlink's |
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