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Shanghai-Capella: ETH Staking Withdrawals with Tim Beiko, Justin Drake, and Anthony Sassano

Bankless

Bankless

Tech News, Technology, News

4.71.2K Ratings

🗓️ 12 April 2023

⏱️ 80 minutes

🧾️ Download transcript

Summary

Ryan, David, Tim Beiko, Justin Drake, and Anthony Sassano unpack everything you need to know about today’s, highly anticipated Shanghai-Capella: ETH Staking Withdrawals. 

Also, the five cover ETH staking mechanics, withdraw upgrade FUD myths, what’s next for Ethereum, and Justin’s prediction around, staking airdrops?!... 

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Topics Covered

0:00 Intro
8:20 Shanghai-Capella Explained 
10:09 ETH Staking Mechanics 
14:33 Deposit Queue 
18:10 Why Shanghai-Capella
21:04 Importance of Shanghai-Capella
24:52 Validators & Finality 
28:12 Sassal’s Thoughts on Shanghai-Capella
32:26 Major Derisk Event? 
34:30 Demystifying Withdraw Upgrade FUD
42:35 Where Will Ether Accrue? 
46:20 Benefits of Competition for ETH Stakers
48:55 Bear Case for ETH Price 
55:35 Solo-Staking 
1:01:30 Making Solo-Staking Easier 
1:04:30 Re-Keying 
1:06:00 What is Next for Ethereum? 
1:09:48 Anthony Sassano’s Tinkering Setup
1:15:50 Staking Airdrops?! 
1:19:00 Closing & Disclaimers 

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Resources:

Tim Beiko
https://twitter.com/TimBeiko 

Justin Drake
https://twitter.com/drakefjustin 

Anthony Sassano
https://twitter.com/sassal0x 

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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.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures 

Transcript

Click on a timestamp to play from that location

0:00.0

You know, you don't have to pay any fees when you're solo staking, so already that puts you

0:03.7

above the rest from a rational standpoint, but the other thing I want to highlight is that

0:10.1

my prediction is that there is going to be special adrops specifically for solo validators.

0:22.2

Bankless Nation, it is a special day. Today, we are hard forking.

0:26.0

Eat staking withdrawals is enabled. David, what is going on? Who do we have on?

0:31.4

Yeah, the Shanghai now called Chapella upgrade coming to Ethereum, coming to a blockchain near you.

0:37.6

The long awaited withdrawals hard fork that allows stakers to withdraw Ether.

0:44.0

We hard forked into proof of stake a while ago, created the beacon chain, did the merge,

0:49.6

but in an abundance of caution, we left out this one ability called withdrawals,

0:54.1

just to not overcomplicate things. It's really the only reason why we didn't include withdrawals

1:00.0

in this original merge was to not to make the merge as least complicated as possible.

1:04.5

So, fast forward to where we are now. We are now enabling withdrawals. And so this has caused a

1:09.5

bunch of conversations around the crypto sphere. Is this bearish? Is the ETH price going to dump?

1:16.5

Is it actually this bullish? And more people are going to stake as a result of this.

1:20.9

What happens to LIDA? What happens to Rocketpool? What happens to the insane supply of Ether

1:26.1

that is in Coinbase? There is a lot of second order consequences as a result of this merge.

1:31.6

There are 18 million Ether that is locked up in the beacon chain and that becomes to be unlocked.

1:37.9

Later today, I believe at 9 p.m. No, 6 p.m. Eastern time, 6.30 p.m.

1:44.4

And so, this episode is going live a few hours earlier than that. And this is just a conversation

1:50.9

with three guests from around the Ethereum ecosystem. We got Anthony Sazano, Ethereum community member

1:56.8

and content producer, also solar staker and solo staker tinkerer. He gives his perspectives as

2:03.3

what his role is in the Ethereum ecosystem as a result of being a solo staker and what he's doing.

...

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