After the Ethereum Merge, Everything That Could Go Wrong Did
synopsis
Ian and Mandana discuss the Ethereum merge and its technical and regulatory implications, the White House's digital asset framework, Greenpeace's anti-Bitcoin stance, Bukele's reelection bid in El Salvador, and Ian's growing conviction that Bitcoin will force a rethinking of democracy and the nation-state. This is part one of a two-hour recording session.
quotes
"Only if you want dollars." — Ian, when Mandana notes the price is down
"Bitcoin is just a massive incentive machine. And we don't even really know all the things that it's going to incentivize."
"There will always be money available to FUD Bitcoin. Bitcoiners can't go push a button to create more Bitcoin."
"Bitcoin is really going to help identify who's actually for fixing things and who's just pretending to want to fix things."
"I truly believe that Bitcoin is going to take us back to the idea of city states and smaller organizations of people."
"We don't call it counterfeiting. We call it monetary policy."
"We're only probably like a couple bad leaders away from having a social credit score in the quote unquote West."
"Bye, Ethereum. Bye, bitch. Out of our life." — Mandana
topics
Ethereum merge: technical problems (7 validators, transaction pool backlog), regulatory risk (SEC/Gensler), proof-of-stake as "rich get richer"Ian finally exits Coinbase and Ethereum (down 60%)Greenpeace's anti-Bitcoin energy FUD and who funds itWhite House digital asset framework (result of the executive order)Bukele running for second term in El Salvador despite constitutional prohibitionBitcoin as long-term problem solver vs. democracy's short-term cyclesBitcoin's potential to return humanity to city-states