Bankless

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ROLLUP: 4th Week of November 🦃

(MARKET) What’s the Market saying?

BTC Price

- Touched previous ATH- BTC on Ethereum - Down 200 to 151,700- Frontpage of Wall Street Journal (https://twitter.com/blockfolio/status/1330887985181679619?s=20) - Jim Creamer tweets about Bitcoin https://twitter.com/jimcramer/status/1331246721637167108?s=20

ETH Price- $600- Almost 734k ETH in the deposit contract https://launchpad.ethereum.org/

TVL in DeFi - 14.1B, up from 13.4B DPI Price -  $104 to $108

Spencer Noon: 8 Signs We’re in a new $ETH Bull Market https://twitter.com/spencernoon/status/1331638662573027333?s=20

(RELEASES) What got released?

Deriswap, From Andre Cronje https://andrecronje.medium.com/deriswap-capital-efficient-swaps-futures-options-and-loans-ea424b24a41c

Daily Gwei Ecosystem from Anthony Sassano https://thedailygwei.substack.com/p/turbocharging-the-daily-gwei-123

Slingshot https://slingshot.finance/

- Rebrand from DEX.AG

DeFi Database https://defidatabase.info/

- Exactly what the title suggests. Database of all DeFi projects/endeavours 

Jeff Coleman ETH2 Tweet thread https://twitter.com/technocrypto/status/1330150362427387910 (NEWS) What’s in the news?

BlackRock CIO says Bitcoin will replace gold https://cointelegraph.com/news/blackrock-cio-says-bitcoin-will-take-the-place-of-gold-to-a-large-extent

Coindesk suspending all margin trading due to regulators https://www.coindesk.com/coinbase-ends-margin-trading

Office of Comptroller messaging that banks need to service legal, but unfavorable, industries (thats crypto) https://twitter.com/msantoriESQ/status/1329898854242603012?s=20

Bitcoin Suisse deposited $100k of ETH into the deposit contract (https://www.trustnodes.com/2020/11/21/bitcoin-suisse-to-deposit-nearly-100000-eth-to-ethereum-2-0)

- Demand for staking-as-a-service providers

- Strong signals that the staking industry is going to be BIG

MAP OF STAKING OPTIONS - https://twitter.com/Philiff/status/1331088361579180036/photo/1

(TAKES) What’s on your mind?

David

Bankless wasn’t here in 2017

Ethereum media wasn’t a thing in 2017

Ryan

Retail isn’t here yet (https://twitter.com/RyanSAdams/status/1331233516722528261?s=20) (https://twitter.com/lawmaster/status/1331163575205965824?s=27)

ONRAMPS...our pipe to absorb capital is easily 10x

INSTITUTIONS:

Futures, CME, Options, Custody...

FinTech is going to betray the banks and flood into crypto (top 5 crypto apps)

inTech is going to betray the banks and onboard the world to crypto and the banks don't even see it coming 

Venmo, Robinhood, Square, PayPal These have turned into crypto apps 

The banks are legacy ledgers Crypto is the future

What are you excited about?

David

This time, it’s different 

Ethereum will respond completely differently this bull market. We are all going to be humbled by what Ethereum becomes this bull-cycle.

Rapid change happens in bull markets.

The people that come into this space now are a significantly different co-hort than the people that pay attention to this industry 24/7/365

Ethereum is similarly a different thing than in was in 2017.

DeFi wasn’t a thing in 2017

DeFi hasn’t seen a bull market. 

No DeFi app has seen a bull market. 

There is about to be some CHURN 

(Ryan) The community…

Crypto isn’t a single player game. 

Community came together to launch Eth2.

Incredible people

Thank some of those incredible people who helped me

Andreas

Chris Burninske

Karl Floresch 

------

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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 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.

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https://bankless.cc/ledger

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SotN#24: TRIUMPHANT!  w/ @nic__carter (2017 vs 2020 Bull Markets, What's Different this Time?)

Nic Carter, general partner at Castle Island Ventures, cofounder of Coin Metrics, host the On The Brink

Nic recently put out a medium article with 9 different Bitcoin charts showing metrics at ATHs. 

https://medium.com/@nic__carter/nine-bitcoin-charts-already-at-all-time-highs-78abbfe82804

We ask Nic: 

- What about this bull market is different than last time? 

- What are the differences that stand out to you the most, that are going to characterize the nature of this specific bullish period? 

Metrics discussed: 

- Addresses with $10 of BTC or more- Open Interest on CME Futures- Realized Cap- Bitcoin Options Open Interest- BTC priced in Turkish Lira- BTC held by Grayscale- Stablecoin Free-Float- Silvergate’s Settlement Network- Growth of Crypto-Native Credit

Watch the video to hear the discussion!

In the SECOND HALF of the video, David and Ryan turn their attention to ETHEREUM: 

Will Ethereum Capture the Bull Market? 

Topics we discussed: 

Ethereum and the Bull Market

- The Deposit Contract received the required amount of ETH to start off ETH2 on the earliest possible date. 

- Then, it received A TON more of ETH after that. 

The 2017 ETH Bull market was underpinned by the possibility of ETH staking and Ethereum scaling just being around the corner

The 2020 ETH Bull market has all of these same dynamics, but AHEAD of the bull market, rather than behind it. 

‘Will Staking ever come?’ and ‘Will Ethereum ever scale?’ are NOT questions that are going to be asked this bull run. 

Also new this bull run: DeFi!

DeFi👏makes👏capital👏sticky!👏

The capital that entered the 2017 ICO mania was FLEETING. Ethereum was 95% ICOs, and after ICOs stopped making people money, there was no reason for capital to stay put on Ethereum 

Things that didn’t exist in 2017:

Collateralized money markets

- Maker - $2.75B- Compound - $1.7B- Aave - $1.45B

AMMs

- Uniswap $1.3B- Balancer $0.4B

Others

- Yearn - $0.5B- Synthetix - $0.8B- Nexus - $0.1B

Stablecoin Supply 

- $20B in stablecoin market cap on Ethereum. 

PLUS, Alpha is found on Ethereum 

- There’s a lot of cognitive dissonance in the world about buying Bitcoin. People have heard about Bitcoin multiple times now, and if they still don’t yet own BTC, they may have a level of cognitive dissonance about buying BTC at ATH prices. 

- People wanting exposure, but not specifically wanting to buy BTC, is a significant reason as to why other assets always do so well in a bull market

People want alpha

- This cycle, DeFi tokens on Ethereum will capture outsized exposure to people who are trying to outperform BTC

- Last cycle, it was many different PoW chains and Ethereum L1 competitors, this cycle it will be protocols and projects on Ethereum 

------

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https://twitter.com/TrustlessState -----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 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.

BLACK FRIDAY DEAL: GET LEDGERS for 40% OFF!

BLACK FRIDAY DEAL: GET LEDGERS for 40% OFF! 🔥🔥🔥https://bankless.cc/ledger

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/

-----

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40 - WTF Happened in 2020? | Meltem Demirors

Meltem Demirors is Chief Strategy Officer of Coinshares... former Vice President of the Digital Currency Group, advocated for crypto in front of Congress... and overall badass.

Meltem wants to answer the question 'WTF Happened in 2020', specifically as it relates to monetary policy from the Federal Reserve, economic forces that result from a top-heavy pension and social welfare system, as well as how COVID impacts financial decision-making. 

This is our first video-podcast, because Meltem brought RECEIPTS. She has DATA and CHARTS and FIGURES to show!

We also turn to a discussion on Bitcoin vs Ethereum identity and in-group, out-group dynamics, and have a jovial discussion regarding tribalistic affairs. 

Hope you enjoy!

------

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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 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.

BLACK FRIDAY DEAL: GET LEDGERS for 40% OFF!

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ -----

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• BTC Price
• • BTC on Ethereum - 151,925 BTC on Ethereum, up ~1,500 BTC
  • Bitcoin as a system as reached ATH value (link)
  • BTC unique addresses spiking upwards (link)
  • 9 BTC metrics that are at ATHs (link)
• ETH Price
• • Almost 60k ETH in the deposit contract (link)
  • TVL in DeFi
  • Ethereum active addresses continually marching to ATHs (link)
  • ETH 1 cycle behind BTC (link)
  • ETH always does well in December, 5 out of 5 times (image)
  • Same BTC, ETH price as December 2017 (tweet)
• DPI Price -  $81 to $104
• 1 Billion DAI (DAI Stats)
• Grayscale $10.8B AUM (tweet)

• RocketPool Medalla Beta testnet concludes
• • Moving onto a new testnet that tests a RocketPool network with integrated tokenomics 
• Aave V2 on the Kovan testnet (link)
• YFI + BAL as collateral in Maker (tweet)
• YAM releases Umbrella product (link)
• Etherisc + Chainlink offers crop insurance on Kenyans (link)

• Rich man invests in Bitcoin (link)
• Coinbase crashing (link)
• Paypal gets to 85% of Binance US volume in first month (link)
• Netherlands exchanges must ask their customers to prove ownership their own their withdrawal addresses (tweet)
• Binance Blocking U.S. customers, giving them 90 days to withdraw assets (link)
• Binance suing two journalists in anti-defamation suit (link)
• Jay Clayton stepping down as SEC Chairman (link)
• Masie Williams tweets about Bitcoin (link)
• • Pay attention to signals like this, 
  • • Dec 2017, Lady Gaga had Cryptocurrency painted fingernails
    • That was the top

• David

• Bitcoiner’s got triggered really fast about the Call to Action Bankless put out on wednesday
• • Tweet, Tweet
  • It’s because Bitcoin progress primarily occurs in the social layer, not the technological layer. They could look at Ethereum technological progress at scoff at it, because while Ethereum was building, they were marketing
  • Now Ethereum is pretty close to being done with building, and people like me and Ryan are now rallying the troops to saw “hey, lets market the fuck out of this thing. 
  • Big threat. 

• Ryan

• What’s the best way to get exposure to DeFi? (link)

• Is ETH staking gonna make it? 
• • 105k ETH in the deposit contract
  • • Over 20%

------

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Subscribe to the Bankless newsletter program http://bankless.substack.com/

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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 video 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.

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/

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Eric Conner, co-Host of the EthHub Podcast, Formerly Product at Gnosis, and Ethereum’s Unofficial Community Manager

We ask Eric, does he accept the title of 'Unofficial Community Manager'?

Eric has called the the 2018-19 Bear Market period as ‘the time that User, Investors, and Builders of Ethereum all came together’

- Why is this important?- What was the Ethereum community like in 2015-17? - How has the Ethereum community developed, changed, matured over time?

Did Eric ever have doubts that we would ever get to this point?

Then, Eric and David discuss the merits of a 'patriotic duty to Stake ETH'

- Is it someone's patriotic duty to stake? - Or is ETH staking just another yield-farm?- How does the role of feeling politically aligned play in Staking ETH? 

Finally, we turn to the Bull Case for Ethereum 

- What is Eric's perceived 'win-condition' for Ethereum?

Tune into the video!

https://youtu.be/BtPOpRzx6NQ

------

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Subscribe to the Bankless newsletter program

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Follow DeFi Dad on Twitter

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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 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.