Bankless

Is the Ethereum roadmap… off track? Have we lost the plot? Are L2s running interference, intercepting all the users, transactions, and value from reaching the L1? And if all of this is real, and not just FUD, what should we do about it?

We have Max Resnick on the show today, he's an Ethereum researcher working at Special Mechanism Group and he’s got some opinions that are contrary to what is typically found out of the Ethereum Rollup Centric Roadmap. 

Max explains why Ethereum is breaking down on its vision for bringing the world onto decentralized, censorship resistant, permissionless blockchains, and suggests possible alternative directions.

------ 🎬 DEBRIEF | Ryan & David Unpacking the Episode: https://www.bankless.com/debrief-the-max-resnick-interview 

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⚡️ CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiGovernance 

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------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/57 

------ TIMESTAMPS

0:00 Intro 5:08 Max’s Contrarian Take 12:20 The State of Rollups 17:59 Are L2s Extensions of Ethereum? 27:52 What Needs to Change 44:33 Based Rollups 50:05 The Holy Grail Blockchain 59:02 Scaling the L1 1:05:29 Max’s Incentives 1:09:53 Why Not Solana? 1:14:06 Navigating ETH’s Roadmap 1:18:05 ETH: The Asset 1:22:15 Value Capture 1:23:58 Call to Action 1:26:43 Closing & Disclaimers

------ RESOURCES

Max Resnick https://x.com/MaxResnick1 

Max Resnick Holy Grail Blockchain Tweet https://x.com/MaxResnick1/status/1826630256008331301  

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠ 

U.S. Senator Cynthia Lummis is a leading Bitcoin advocate in Congress who recently introduced her proposal, "the Bitcoin Act," which seeks to create a strategic Bitcoin reserve for the United States of America. In today's episode, we explore how the bill could address the $35 trillion debt, the conversion of gold certificates to Bitcoin, and its economic implications.

------ 🎬 DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-the-cynthia-lummis-interview 

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2 ⁠ 

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🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  ⚡️ CARTESI | LINUX-POWERED ROLLUPS https://bankless.cc/CartesiGovernance 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku  

------ ✨ Mint the episode on Zora ✨ https://zora.co/manage/1155/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/56 

------ TIMESTAMPS

0:00 Intro 6:40 The Bitcoin Act 10:01 Gold to Digital Gold 15:01 U.S. Strategic Reserves 18:00 U.S. Discretion in Selling Forfeited Bitcoin 20:44 Is Bitcoin Ready for Federal Reserve Backing? 23:24 Bitcoin Adoption to Tackle U.S. Debt 28:17 Bitcoin's Potential Impact 33:15 Being First in Bitcoin Strategic Reserves 39:22 Pros vs. Cons of Bitcoin Strategic Reserves 49:08 Bipartisan Prospects and Democratic Silence 53:52 Conservative Support vs. Liberal Adoption 56:30 Trump vs. Harris on Crypto Legislation

------ RESOURCES

Senator Cynthia Lummis https://x.com/SenLummis 

The Bitcoin Act  https://www.lummis.senate.gov/press-releases/lummis-introduces-strategic-bitcoin-reserve-legislation/  https://www.lummis.senate.gov/wp-content/uploads/BITCOIN-Act-FINAL.pdf 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures  ⁠ 

In this special early access episode we're joined by Paradigm's Georgios Konstantopoulos and Charlie Noyes, along with Max Resnick from Special Mechanisms Group to discuss a possible change in direction for one part of the Ethereum Roadmap.

This is a deeply technical episode that covers the history of MEV and new innovations that plan to change it all from the comfort of David's apartment studio, enjoy.

------

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⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ TIMESTAMPS 00:00:00 Start 00:05:14 Intro To Our Guests 00:09:21 Proposer Builder Seperation 00:12:39 Stepping Forward vs Patching 00:19:35 Getting Rid Of MEV? 00:26:35 Inclusion Lists 00:40:14 What is Braid? 00:50:43 The Bear Case 01:06:37 Vitalik's Take 01:10:53 The Benefits of Braid 01:20:28 L2 Centric Roadmap Changes? 01:36:26 How's Rust Going? 01:44:49 Other Exciting Roadmap Updates 01:57:52 Call To Action

------ RESOURCES

Georgios: https://x.com/gakonst 

Max: https://x.com/MaxResnick1 

Charlie: https://x.com/_charlienoyes 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Welcome back to the Bankless Friday Weekly Rollup. First up, why Telegram founder Pavel Durov was arrested in France and what it means for the future of privacy. Then, drama at the Ethereum Foundation as they sell $100M worth of ETH. And finally, the latest Wells Notice from the SEC, which company got it? ------ 🌊 KELP | Deposit ETH with Gain today https://kelpdao.xyz/gain/?utm_source=Bankless  ------ BANKLESS SPONSOR TOOLS:

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⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ TIMESTAMPS & RESOURCES 00:00:00 Start

00:02:22 Markets https://pro.kraken.com/app/trade/btc-usd  https://pro.kraken.com/app/trade/eth-usd  https://farside.co.uk/?p=1518  https://x.com/tokenterminal/status/1828049589305319792?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g  https://www.growthepie.xyz/fundamentals/total-value-locked 

00:06:23 Rate Cuts Incoming https://www.federalreserve.gov/newsevents/speech/powell20240823a.htm  https://x.com/RyanSAdams/status/1829156259062501574 

00:08:41 Stablecoin ATH https://defillama.com/stablecoins  https://x.com/PayPal/status/1828161802208985462 

00:13:14 When Pump? https://x.com/2xdog/status/1826460239090385028/photo/1 

00:18:42 Telegram Founder Arrested https://x.com/WatcherGuru/status/1827450423608795287?t=9gT6e4AmQL8qHc5gDA0Rrw&s=19 

00:21:01 What Are The Charges? https://x.com/Cointelegraph/status/1828915121823068476  https://x.com/RyanSAdams/status/1828122303047033327 

00:24:03 Encryption

00:27:47 Takes On This Issue https://x.com/EmmanuelMacron/status/1828077245606342672  https://x.com/VitalikButerin/status/1827602680388239582  https://x.com/Kasparov63/status/1827819652535489007  https://x.com/NoelleInMadrid/status/1827798993017127243 

00:30:45 TON's Reaction https://x.com/ton_society/status/1827753299736674599  https://x.com/ton_society/status/1828446248841441467 

00:36:36 Mark Zuckerburgs Letter https://x.com/boblatta/status/1828516974269472936/photo/1 

00:39:46 Roman Storm's Battle https://x.com/RyanSAdams/status/1828906357723955378 

00:46:34 Ethereum Foundation Sold $100M? https://thedefiant.io/news/blockchains/ethereum-community-rattled-by-foundation-s-eth-sales-and-vitalik-s-defi-hate  https://x.com/0xstark/status/1828416178194104342  https://x.com/defiignas/status/1827287094705701318?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g 

00:52:26 Does Vitalik Hate DeFi? https://x.com/VitalikButerin/status/1827583576751181961  https://x.com/kaiynne/status/1821020189594669398  https://x.com/RhettShipp/status/1827911788488487047  https://x.com/haydenzadams/status/1828452122385424718  https://x.com/VitalikButerin/status/1828448417585971661 

01:01:51 Sony's Layer 2 - Soneium https://x.com/soneium/status/1826832581897126367 

01:03:34 MakerDAO Rebranded To SKY https://x.com/SkyEcosystem/status/1828405625828843710  https://governance.aave.com/t/temp-check-buidl-gsm/18775 

01:05:47 Trump Harris Debate https://x.com/disclosetv/status/1828505848504819978 

01:06:42 RFK Drops Out https://x.com/watcherguru/status/1827059890549862600?s=46&t=iahr7Lh5v08SSM_Ery-bGw 

01:07:45 Trump NFTs https://x.com/mdudas/status/1828575205276459258 

01:09:29 SEC Threatens To Sue Opensea https://x.com/dfinzer/status/1828791832009953706?s=46 

01:12:37 Chainbound Raises $4.6M https://x.com/chainbound_/status/1828047583090016308?s=46&t=dAxCjT2P_GIrJMvMgWIpfA 

01:13:22 Most Unattractive Hobbies... https://x.com/nic__carter/status/1827862983034245338 

01:14:50 Moment Of Zen https://x.com/songadaymann/status/1828885208227332591?s=46 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ 

Today we're diving into the vibrant crypto ecosystem of Argentina as experienced at Aleph, a unique crypto pop-up city in Buenos Aires. You’ll hear from three influential guests - Marcelo Cavazzoli of Lemon Cash, Federico Ogue of Buenbit, and Manuel Beaudroit of Belo - who are leading the charge in Argentina’s crypto revolution. 

The episode provides deep insights into why Argentina is becoming a global hub for crypto adoption, driven by grassroots enthusiasm and supported by the pro-crypto stance of the new government. Expect a blend of personal stories, expert opinions, and an exploration of how crypto is empowering millions in Argentina amidst the failing Argentine Peso.

------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24  https://bankless.cc/spotify-premium  ------ BANKLESS SPONSOR TOOLS:

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⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ TIMESTAMPS  00:00:00 Start 00:16:37 Intro and Market Size 00:26:49 Demographics 00:30:29 Why isn't everyone using stablecoins? 00:37:14 Custody and Trust 00:42:29 Creating Crypto Power Users 00:49:08 Preferred Way Of Growing Wealth 00:55:28 Dealing With Competition 01:03:10 Building Under the Argentine Laws 01:12:21 Javier Milei 01:18:12 Crypto's Future In Argentina

------ RESOURCES Marcelo Cavazzoli - https://x.com/lemoncheli 

Federico Ogue - https://x.com/fedeogue 

Manuel Beaudroit - https://x.com/mbeaudroit 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

It’s been a while since former Speaker of the House Paul Ryan was in the public spotlight, but in this episode, we discover his surprising stance: he’s bullish on crypto! In fact, he believes that crypto could be crucial in staving off a U.S. debt crisis. We dive deep into his core argument and explore a range of related topics, such as:  - America’s debt crisis - The potential loss of the U.S. reserve currency status - How crypto could help the U.S. stay ahead of China - Why the left is anti-crypto - Crypto under a Trump vs. Kamala’s administration 

This episode highlights how crypto is becoming an essential issue in Washington. Tune in for a comprehensive look at crypto’s growing influence on U.S. politics and beyond.

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🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/55  

------ TIMESTAMPS

0:00 Intro 5:11 Why Politics Are Messier 7:36 Being Speaker of the House 11:27 Paul’s WSJ Stablecoin Op-Ed 16:47 Paul’s Intro to Crypto 18:54 U.S. Debt Crisis 26:05 Losing Reserve Currency 28:29 CBDCs vs. Stablecoins  38:06 KYC Stablecoins & Legislation  43:27 Anti-Crypto Army 46:16 Is the Left Anti-Crypto?  51:03 Right vs. Left Crypto Adoption  55:50 Kamala vs. Trump 58:49 Advice to Bankless Listeners 1:01:18 Closing & Disclaimers

------ RESOURCES

Paul Ryan  https://x.com/speakerryan  

WSJ Article  https://www.wsj.com/articles/stablecoins-could-stave-off-a-us-debt-crisis-china-digital-currency-c491d717  

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures  ⁠  

SOL/ETH is up 300% YoY and ETH/BTC is down 50% over the last 2 years. Why is that? Why is ETH underperforming so bad?

Kyle Samani is the Managing Partner & Co-Founder at Multicoin Capital. Kyle and Multicoin have been one of the largest investors and proponents of Solana. They have been spearheading the ‘integrated blockchain’ investment theses even before the success of Solana redefined that corner of crypto.

This episode is not intended to be a debate like the Anatoly vs Justin Drake one. Ryan and David are mostly going to sit back and hear Kyle’s perspective and reasoning as to why ETH has been down so bad in this crypto cycle. Enjoy!

------ 🎬 DEBRIEF | Ryan & David Unpacking the Episode: https://www.bankless.com/debrief-the-kyle-samani-interview 

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⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/53 

------ TIMESTAMPS

0:00 Intro 5:40 Ethereum in a Vacuum 10:10 ETH Vs. BTC 25:50 Broken Layer2 Interoperability 34:46 Value Capture 51:46 What Needs to Change 55:23 Decentralization 1:06:34 Solana 1:12:25 Steelmanning Ethereum 1:17:49 Closing & Disclaimers

------ RESOURCES

Kyle Samani https://x.com/KyleSamani 

Multicoin Capital https://multicoin.capital/  

Paths To Tens Of Trillions Blog Post https://www.linkedin.com/pulse/paths-tens-trillions-kyle-samani/  

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠  

Tron has been on a tear ranking second in stablecoin supply, highest number of token holders at 143.5 million, and has the second highest TVL among layer 1's at over $8 billion dollars. 

What's causing this big spike and... why?

------

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⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ TIMESTAMPS & RESOURCES

00:00 David's New Fighting Opponent https://x.com/Permissionless/status/1826245778098237923 

05:35 Markets https://pro.kraken.com/app/trade/btc-usd  https://pro.kraken.com/app/trade/eth-usd  https://farside.co.uk/?p=1518  https://unchainedcrypto.com/blackrocks-ethereum-etf-surpasses-1-billion-in-net-inflows/ 

09:17 Tron Taking Over? https://www.coingecko.com/en/coins/tron 

14:57 Fear vs Greed In Markets https://x.com/Barchart/status/1825970627011817561  https://www.coinglass.com/pro/i/FearGreedIndex 

19:53 Dems 2024 Platform Release https://x.com/BitcoinMagazine/status/1825571943891792289  https://x.com/RyanSAdams/status/1825620753783345308  https://x.com/RyanSAdams/status/1825625975528501711  https://x.com/RyanSAdams/status/1825619465339351144  https://washingtonreporter.news/editorial/scoop-kamala-harris-likely-to-nominate-gary-gensler-as-treasury-secretary-if-elected-senate-sources/  https://x.com/RyanSAdams/status/1825618904686739630 

32:36 Trump Onchain https://blockworks.co/news/donald-trump-nft-royalties-memecoin-taxes  https://edition.cnn.com/2024/08/15/politics/read-donald-trump-financial-disclosure-forms/index.html  https://opensea.io/collection/trump-digital-trading-cards 

39:02 Optimism Disabled Fraud Proofs? https://x.com/Optimism/status/1824560736657670314 

42:47 Pump Dot Fun https://x.com/adam_tehc/status/1824994679265349802?s=46 

45:33 McDonalds Memecoin? https://x.com/timo_bult/status/1826284191115530600  https://pump.fun/4BRummYdfvoEGQwYzTSmn5F6RyAFdrHUTFkeagobpump 

50:02 Story $80 Million Raise https://www.story.foundation/  https://x.com/jasonjzhao/status/1826236451954286946 

53:58 Sorella Labs $7.5 Million https://www.theblock.co/post/312222/paradigm-sorella-labs-ethereum-mev-problem?utm_source=twitter&utm_medium=social 

57:20 Meme Of The Week https://x.com/vitalikbuterin/status/1826253901240431083?s=46    ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Today we're talking EVM, specifically how Mega ETH and Monad are planning to make Ethereum SUPER fast.

We answer: 1 - Which is faster, more decentralized, and more censorship-resistant? 2 - How did Monad and MegaETH build large communities before even launching a testnet, let alone a mainnet? 3 - What are their thoughts on criticism that building with the EVM is like building on quicksand? Could this eat at Solana's value proposition?

------ 🌊 KELP | Deposit ETH with Gain today https://kelpdao.xyz/gain/?utm_source=Bankless  ------ BANKLESS SPONSOR TOOLS:

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🦄UNISWAP | BROWSER EXTENSION https://bankless.cc/uniswap 

⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------

✨ Mint the episode on Zora ✨https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/54?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E 

------

TIMESTAMPS

00:00:00 Start 00:05:48 Intro To Monad 00:11:47 How Does Monad Fit Into Ethereum? 00:14:08 What is Mega ETH? 00:18:31 Similarites and Differences 00:21:38 Architectual Impact 00:28:58 Decentralization - Monad 00:34:56 Decentralization - Mega 00:39:43 Who's More Decentralized? 00:49:27 In Summary 00:57:24 Software Effeciency 01:06:50 Monolithic vs Modular 01:15:11 Community 01:28:37 Why Choose The EVM? 01:33:07 When Mainnet?

------ RESOURCES

Lei Yang: https://x.com/yangl1996 

Keone Hon: https://x.com/keoneHD 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

In this episode, Ryan is joined by Louis-Vincent Gave, a macro analyst with 7 bold investment ideas to help you navigate the chaos. From avoiding the bond market’s pitfalls to rethinking the 60/40 strategy and why Asia is the future, Louis' ideas are thought-provoking and actionable. Whether you’re worried about a recession or curious about crypto, these ideas will give you new insights into where to put your money. This and all Bankless content is never financial advice. 

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⚖️ ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle    🌐 OBOL | STAKE ON DVs, SCALE ETHEREUM https://bankless.cc/obol 

🗣️TOKU | CRYPTO EMPLOYMENT  https://bankless.cc/toku 

------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/zora:0x0c294913a7596b427add7dcbd6d7bbfc7338d53f/52 

------ TIMESTAMPS

0:00 Intro 4:43 Louis Intro 5:05 Louis Book & Theme 6:30 Current Decade Uncertain? 9:49 Crisis in Asia - 3 Anomalies 15:21 Bear Market: Crypto vs. Equity 23:05 Bond Investors Losing Money 26:25 Who’s Buying Bonds? 29:16 Pension Funds & Math 33:35 Current Safe Investments? 40:29 Current Ideal Portfolio 50:22 Equity U.S. vs. Others 54:00 Ryan’s Countertakes 55:10 Louis on U.S. Property Rights 57:25 Louis on U.S. Tech  1:00:56 U.S. vs. China 1:04:34 Non-U.S. Equity 1:06:32 Value Over Growth 1:11:04 What’s Warren Waiting For? 1:13:06 Home Bias & Base Case 1:18:46 Dollar Devaluing 1:24:18 Louis on Crypto 1:27:09 Bitcoin vs. Gold 1:28:20 Louis’s Dad & Crypto 1:29:30 Closing & Disclosures 

------ RESOURCES

Louis  https://x.com/gave_vincent  https://web.gavekal.com/  https://evergreengavekal.com/ 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures  ⁠