Bankless

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----- 📢 DEVS OR BUILDER? APPLY TO FILECOIN ACCELERATOR FOR $20K GRANT  -----

GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️LEDGER - BEST HARDWARE WALLET TO SECURE CRYPTO https://bankless.cc/ledger-20 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith

🚀 ZERION - INVEST IN DEFI FROM ONE PLACE (download it now!) https://bankless.cc/zerion 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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Michael Sonnenshein is the Managing Director at Grayscale Investments, the largest digital currency asset management company by far.

You may have seen a GBTC or ETHE products in your Schwab account, a way price exposure to ETH and BTC

...wondered what those things are?

We're going to talk about that today with Michael.

Grayscale has built a bridge for almost $10B to flow into the crypto world, by working inside the legacy system, rather than outside of it. 

Listen to this podcast to see how Grayscale is helping promote crypto! 

Retail products:

• What Greyscale products can the average, unaccredited retail investor buy today?
• What’s the difference between GBTC/ETHE and an ETF?
  • What are the fees?

Accredited investors products ($1m in assets or $200k per year) 

• How do accredited investors power the Grayscale trust?
• What narratives that are driving the inflows?
• What are the most popular products with this group?
  • Bitcoin Trust: $39.5 million
  • Ethereum Trust: $9.0 million 
  • Large Cap Fund: $1.1 million 

Bitcoin Investor Study - what were the takeaways?

Size of Greyscale relative to supply

• How much BTC supply - 400k in June (3-4% of all Bitcoin)?
  • As a proportion of mined BTC?
• How much ETH supply do you own?
• Can Grayscale do a staked ETH product? Any other yield-bearing products?

What’s Greyscale’s next move?

• Expanding more outside BTC?
• Getting acquired?
• AUM size?
• Specifically with DeFi?

Action items:

• Read reports Bitcoin Investor Study
  •  https://grayscale.co/insights/bitcoin-investor-study-2020/
• If you’re looking at GBTC or ETHE in your portfolio premium vs spot price first:
  • https://ycharts.com/companies/GBTC/discount_or_premium_to_nav
  • https://ycharts.com/companies/ETHE/discount_or_premium_to_nav
• 5 - star reviews the podcast!

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Don't stop at the video!

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

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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.

🚀 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/ ----- 📢 DEFI BUILDER? APPLY TO FILECOIN ACCELERATOR FOR $20K GRANThttp://bankless.cc/filecoinapply -----

GO BANKLESS WITH THESE SPONSOR TOOLS: 

⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTO https://bankless.cc/ledger-20

🚀ARGENT - GET THE MOST SIMPLE AND SECURE DEFI WALLET https://bankless.cc/argent

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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ROLLUP: 2nd Week of November

What are we doing:

Happy Friday morning...

End of the week rollup

Dedicating 5 minutes to 5 topics, same 5 topics every week

- Market - Releases- News- Takes - What are you excited about?

(MARKET) What’s the Market saying? 

BTC Price - 16k- BTC Treasuries website (https://bitcointreasuries.org/))- BTC on Ethereum: 153k

ETH Price

$1B of ETH in Grayscale (https://www.theblockcrypto.com/linked/83854/grayscale-ethereum-trust-1-billion-aum)

TVL in DeFi - up $1B from last week

DeFi Token price - remember last wk when DeFi was dead?

(RELEASES) What got released?

- PayPal removes waitlist - all paypal users can use crypto now (https://www.coindesk.com/paypal-removes-waitlist-for-new-crypto-service)

- LiquidStake (https://www.coindesk.com/ethereum-heavyweights-launch-liquidstake-loans-to-ease-eth-2-0-lockup)

Dharma Bank Account Integration (https://twitter.com/Dharma_HQ/status/1323311960432148481)

Bank Account -  Dharma - Uniswap

Synthetix synthetic Oil and inverse-synthetic Oil now available 

Chainlink working on xDAI network (https://www.xdaichain.com/about-xdai/project-spotlights/chainlink)

EIP1559 Updates

Tim Beiko tweet thread (https://twitter.com/TimBeiko/status/1325839080974774272?s=20)

- Mainnet-condition testnets

- Developer tooling for easy 1559 integration

Micah Zoltu blog post (https://medium.com/@MicahZoltu/a-tale-of-two-pricing-schemes-dc9c8717906)

(NEWS) What’s in the news?

Infura CRASH (https://www.theblockcrypto.com/post/84232/ethereum-infrastructure-provider-infura-is-down)

In response, someone made EthereumNodes.com to report who has endpoints up and who doesn’t

Zapper gets $1.5M in funding (https://www.coindesk.com/defi-dashboard-zapper-snags-new-funding-from-delphi-and-coinbase-ventures) - Delphi- Coinbase

Binance donates $100k to Gitcoin (https://www.binance.com/en/blog/421499824684901205/Binance-Pledges-$100000-Donation-to-Gitcoin-Grants)

CZ depositing 32 ETH to the deposit contract (https://twitter.com/cz_binance/status/1325978447148064768)

CipherTrace scaring regulators (https://ciphertrace.com/half-of-2020-crypto-hacks-are-from-defi-protocols-and-exchanges/)

Ray Dalio on banning Bitcoin (https://www.coindesk.com/bridgewaters-dalio-sees-governments-banning-bitcoin-should-it-become-material)

Final Boss:

ShapeShift Delisting ZEC over regulator concerns (https://www.coindesk.com/shapeshift-delists-privacy-coin-zcash-over-regulatory-concerns)

IRS is coming after Coinbase for tax information (https://cointelegraph.com/news/u-s-law-firm-says-irs-is-coming-after-coinbase-users-who-evade-taxes)

BTC mining pools & KYC (https://stockhouse.com/news/press-releases/2020/10/29/dmg-s-subsidiary-blockseer-launches-bitcoin-mining-pool-focused-on-good)

U.S. Feds doing research on CBDCs (https://www.theblockcrypto.com/linked/84087/fed-central-bank-digital-currency-research)

Lebanon CBDC (https://www.coindesk.com/lebanon-digital-currency-2021)

SEC changing Reg A, Reg CF, Rule 504D limits, among other things (https://www.sec.gov/news/press-release/2020-273)

Reg A $50m - $75m

Reg CF $1m - $5m

504D $5m -$10m

(TAKES) What’s on your mind? 

Gotta do it

- Bring up the frogs (https://twitter.com/kekspawn/status/1326253486070173696/photo/1)

What’s on my mind?

What is DeFi?

Is Bitcoin DeFi (https://twitter.com/RyanSAdams/status/1326950305725026304?s=20)?

Is Ethereum DeFi?

Is BinanceChain DeFi?

Is PolkaDot DeFi?

Is Cosmos DeFi?

IS DEFI DEFI?

What are you excited about?

DH: 

- Ethereum / ETH being understood

- ETH the Internet Bond

- BTC is an evolution on Gold. Therefore, BTC market cap should be much larger than gold

I'm compelled!

- ETH’s market cap should be an evolution on the market cap of bond markets 

Never before has there been a hard-money bond market 

RSA: sovereign bond market is $57t btw

I’m excited that we’re in a bull run:

If you're new to crypto... Welcome to your first bull run. Things will only getting crazier from here. Buckle up.

🚀 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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📢 DEFI BUILDER? APPLY TO FILECOIN ACCELERATOR FOR $20K GRANThttp://bankless.cc/filecoinapply -----GO BANKLESS WITH THESE SPONSOR TOOLS: 

⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTOhttps://bankless.cc/ledger-20

🚀ARGENT - GET THE MOST SIMPLE AND SECURE DEFI WALLEThttps://bankless.cc/argent

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDShttps://bankless.cc/monolith

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn ------

Zapper AMA with Founder Seb Audet and DeFi Dad 

Zapper is a home-base for your financial activity on Ethereum. Load up your wallets at https://zapper.fi/ and use Zapper to make quick and easy transactions in DeFi!

DeFi Dad on Twitter: https://twitter.com/defi_dad

Seb on Twitter: https://twitter.com/sebaudet26

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Don't stop at the video!

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

-----

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/

-----

📢 DEFI BUILDER? APPLY TO FILECOIN ACCELERATOR FOR $20K GRANThttp://bankless.cc/filecoinapply

-----

GO BANKLESS WITH THESE SPONSOR TOOLS: 

⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTOhttps://bankless.cc/ledger-20

🚀ARGENT - GET THE MOST SIMPLE AND SECURE DEFI WALLEThttps://bankless.cc/argent

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDShttps://bankless.cc/monolith

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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LiquidStake - Andrew Keys & James Slazas | Meet the Nation

DARMA Capital is a fund that is perma-bullish on ETH, and the entire fund is focused on producing ETH-denominated returns for their investors. 

DARMA has rolled out LiquidStake, a Staking-as-a-Service product that enables ETH 2.0 stakers to access liquidity during the unknown ETH lockup period. 

Article: https://www.coindesk.com/ethereum-heavyweights-launch-liquidstake-loans-to-ease-eth-2-0-lockup

Andrew on Twitter: https://twitter.com/AndrewDARMACAP?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

------

Don't stop at the video!

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

-----

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.

For this particular State of the Nation, the video is very helpful. Especially when we discuss the calculator and staking returns: 📺 WATCH: https://youtu.be/FkxrTXCRUOo _________

🚀 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/

-----

📢 DEFI BUILDER? APPLY TO FILECOIN ACCELERATOR FOR $20K GRANT

http://bankless.cc/filecoinapply

-----

GO BANKLESS WITH THESE SPONSOR TOOLS: 

⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTO https://bankless.cc/ledger-20

🚀ARGENT - GET THE MOST SIMPLE AND SECURE DEFI WALLET

https://bankless.cc/argent

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS

https://bankless.cc/monolith

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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SotN#22: BONDING! w/ @StakeETH (ETH Internet Bond Market, Staking Returns, ETH Needed to Retire?)

The Internet Bond: https://bankless.substack.com/p/eth-the-internet-bond

Whitepaper: https://drive.google.com/file/d/13-s15SvCIUBukhSZiNkpd0sTff3izQ5G/view

Calculator: https://docs.google.com/spreadsheets/d/1LTv8c-9nfq225bV-esv-JXmb0K-nM_z6qbmVooTAUUo/edit?ts=5f730135#gid=13834492

Ryan's: 7 Lessons for Crypto Pioneers

https://bankless.substack.com/p/7-lessons-for-crypto-pioneers-market

Bankless Guide: How to Become a Validator

https://bankless.substack.com/p/-guide-how-to-become-a-validator

CodeFi, Collins project!

https://activate.codefi.network/

------

Don't stop at the video!

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

-----

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.

For this particular State of the Nation, the video is very helpful. Especially when we discuss the calculator and staking returns: