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SotN #2 - CHURNING; ETH bears wrong, Venmo loves crypto, Gas fees good

Bankless

Bankless

Tech News, Technology, News

4.71.2K Ratings

🗓️ 24 June 2020

⏱️ 39 minutes

🧾️ Download transcript

Summary

STATE OF THE NATION #2 - Tuesday, June 23, 2020

The State of the Bankless Nation is....CHURNING! The Bankless boys discuss why. 

Subscribe to get new episodes every Wednesday! (Get it 1 day earlier on Bankless YouTube!)

Watch the video here.

Covered:

1) Why isn't ETH pumping? (BEARS are wrong?) 

2) Venmo onboarding millennials to crypto (and just in time) 

3) Gas prices are bad (or are they good?)

We show you how:

1) See ETH locked in DeFi

2) Look at ETH/BTC transaction fee revenue using Coinmetrics

 

-----

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-----

RESOURCES:

1) Learn about Economic bandwidth:

Listen: https://bankless.substack.com/p/bankless-podcast-economic-bandwidth

Read: https://bankless.substack.com/p/the-trillion-dollar-case-for-eth

 

2) Read Protocol sink

Listen: https://bankless.substack.com/p/12-the-protocol-sink-thesis

3) Coinmetrics Transaction revenue chart

https://coinmetrics.io/charts/#assets=btc,eth_roll=7_left=FeeTotUSD_zoom=1279411200000,1592784000000

-----

ACTIONS:

1) Read the new Bankless Starters Guide

https://bankless.substack.com/p/-guide-1-starting-with-bankless

 

2) Subscribe to Bankless YouTube channel
https://www.youtube.com/c/bankless


3) Check out the Daily Gwei by our friend Anthony Sassano
https://thedailygwei.substack.com/
 

-----

Don't stop at the show!

Subscribe to the Bankless newsletter program

http://bankless.substack.com/

 

Visit the official Bankless website for resources

http://banklesshq.com/

 

Follow Bankless on Twitter

https://twitter.com/BanklessHQ

 

Follow Ryan on Twitter

https://twitter.com/ryansadams

 

Follow David on Twitter

https://twitter.com/TrustlessState

 

Follow DeFi Dad on Twitter

https://twitter.com/DeFi_Dad

 

-----

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 is not tax advice. Talk to your accountant. Do your own research.

 

Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.

Transcript

Click on a timestamp to play from that location

0:00.0

All right, everyone.

0:15.0

Welcome to a June 23rd edition.

0:17.2

Our second episode of State of the Nation.

0:21.0

We are glad you are with us.

0:22.4

So here's what we do in these episodes. We talk about what's going on in

0:26.8

crypto and we relate that stuff to the big picture to help you understand the state of the bankless nation.

0:34.8

So we release these episodes right here on YouTube every Tuesday.

0:38.7

Make sure you subscribe.

0:40.3

And we also release them on the Bankless Podcast on Wednesdays.

0:43.8

And here's the question I always start out with.

0:47.2

I'm going to relay this one to David.

0:49.6

David, what is the state of the bankless nation today, sir?

0:54.0

The state of the bankless nation is churning.

0:57.0

We are churning at the moment.

1:00.0

Last week, the state of the nation was bullish.

1:02.0

I said that Defi tokens had really gone up a lot in price and that was illustrative of a catalyst of all of ethereal and then ether started pumping a little pump from 229 to 243 where we are today.

1:17.0

So I feel pretty validated about this one.

1:18.6

So you totally called it.

1:20.3

You just nailed it like because, because comp tokens did like after you after you said that after we gave the

1:27.2

state of the nation they did like a three to five X after that She said it was bullish.

1:32.8

Do you think state of the nation had any effect

1:35.4

on the comp pump, David Hoffman?

...

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