Welcome to the Post-Merge Era in Crypto

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 16 September 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. At 2:44 a.m. ET Thursday, Ethereum successfully transitioned from proof-of-work to proof-of-stake. On today’s show, NLW breaks down what that means for the network’s security and economics and looks at the political dimensions that could impact Bitcoin and the rest of the crypto industry. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds by employing five key fundamentals including real-time auditing and recently increased $775 million insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Andrei Akushevich/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Thursday, September 15th, and as of very early this morning,
0:28.8	Ethereum has moved to proof of stake. Before we get into it, though, if you are enjoying the breakdown,
0:34.1	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, come join us on the breakers discord.
0:41.3	You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:45.3	Also, a disclosure as always. In addition to them being a sponsor of the show, I also work with FTX.
0:51.2	Now, as I said, early this morning, depending on where you are, early for me, East Coast
0:55.5	time, Ethereum has transitioned from proof of work to proof of stake. A big picture power
1:01.3	shift, get it, if ever I've seen one. There were a lot of tweets in the lead-up yesterday
1:08.0	about just how significant the event was. Patrick Collison from Stripe wrote,
1:13.4	excited about the merge, one of the coolest examples of sustained, ambitious, technically
1:17.4	difficult open-source development. Congrats and good luck to Vitalik Buterin and the entire Ethereum
1:22.1	community. Eric Voorhees of Shapeshift wrote, after Bitcoin's white paper release, Ethereum's merge is the most consequential event in crypto's history.
1:30.8	It happens in less than 24 hours.
1:33.0	I feel awe and gratitude towards the beautiful minds that enabled both of these events.
1:37.3	Chow Wang wrote the merges, in my opinion,
1:39.5	the most important technical upgrade in the history of crypto.
1:42.8	Risk is non-trivial.
1:45.1	I'm rooting for them.
1:46.7	Jake Chivinsky wrote, You don't have to be an Ethereum to be excited for the merge. It's an amazing achievement
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.