Ultrasound Money & the Ethereum Triple Halving | Nikhil Shamapant

Hidden Forces

Demetri Kofinas

Business, Government

4.8 • 1.6K Ratings

🗓️ 17 May 2021

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode 191 of Hidden Forces, Demetri Kofinas speaks with Nikhil Shamapant, the author of a recently published and widely circulated 79-page report that sets an ambitious 18-month price target on Ethereum of $150,000 per ETH—more than 30x the current level. Nikhil believes this will be driven primarily by two upcoming changes to the underlying Ethereum protocol which will reduce the supply of ETH by the equivalent of roughly three Bitcoin halving cycles. The changes are scheduled to take place in two phases beginning with the adoption of EIP-1559 in mid-July of this year and culminating with the formal transition to proof-of-stake in late 2021, turning Ethereum into the preferred savings vehicle in crypto, according to Nikhil.

The second part of this episode is an hour-long conversation that we recorded with one of EIP-1559's main champions, Tim Beiko. We brought Tim on the program in order to do a deeper dive on the protocol changes referenced in our conversation with Nikhil, including changes to the network fee model (i.e., basefee burning & tips) and the block reward subsidy (i.e., staking), as well as changes to the user experience, the impact on miners and miner extractable value (MEV), network scalability, staking rewards, & much more.

You can access our episode with Tim and download the transcript and rundown to this week's episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 05/07/2021

Transcript

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0:00.0	What's up, everybody? My name is Demetric Afinas. I'm a media entrepreneur, financial analyst,
0:27.5	and the host of Hidden Forces, a podcast that helps investors, entrepreneurs, and everyday
0:33.2	citizens get an edge by equipping themselves with the knowledge needed to anticipate the
0:38.6	challenges and opportunities of tomorrow. By sharing my critical thinking approach and
0:44.4	by challenging consensus narratives about the power structures shaping our world, I
0:50.1	help you make the connections to see the bigger picture, empowering you to make smarter
0:56.2	decisions. On this week's episode, I speak with Nikhil Shamapant, the author of a recently
1:02.5	published and widely circulated 79-page report on Ethereum, EIP 1559, and the ensuing move
1:11.1	to proof of stake, and the implications of these two protocol changes for Ethereum's structurally
1:16.8	available supply, and thus its price. Nikhil makes a compelling case for why Ethereum is
1:23.0	positioned to soon become the preferred savings vehicle in crypto, displacing Bitcoin as
1:29.4	the so-called God meme around whose orbit the entire crypto complex will begin to circulate.
1:36.2	Nikhil has put out an ambitious 18-month price target of $150,000 per
1:43.6	ETH, more than 30 times the current level, which he believes will be driven primarily
1:49.2	by changes to the underlying Ethereum protocol, which are scheduled to take place in two phases,
1:55.8	beginning with the adoption of EIP 1559 in mid-July of this year, and culminating with
2:02.7	the formal transition to proof of stake in late 2021. Those of you who have been longtime
2:09.2	listeners of this podcast will know that I am an investor in crypto. But this hasn't stopped me
2:15.4	from being highly critical of the space, including the toxicity of the culture particularly present
2:21.2	among Bitcoin maximalists, the casino culture of DeFi, and the self-serving narratives around inflation
2:27.6	and national decline that are disseminated as canonical wisdom among many in this industry.
2:34.1	Still, we find ourselves in a dilemma as investors, which is that while some of us may want the
	...

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