Kevin Zhou, co-founder of Galois Capital, and Evgeny Gaevoy, founder and CEO of Wintermute, discuss how to trade the Ethereum Proof of Work fork, what the market is telling about the Merge, and whether the Merge affects Bitcoin.
Show highlights: what will happen at the time of the Merge according to Kevin and whether there’s uncertainty
when the ETH Proof of Work chain will emerge and how that affects trading opportunities
the mistakes of the ETHPoW team, like repealing EIP-1559
what percentage of ETH market cap ETHPoW will accrue
what the first few blocks of ETHPoW will be like
what the strategies are to earn the ETHPoW airdrop and what the on-chain activity looks like
whether there is an “up-only” monoculture in Ethereum
what stETH is, how it should be priced and what the futures market indicates
where the value of a chain comes from and the likelihood of ETHPoW failing catastrophically
how to protect from replay attacks
the price action of ETH after the Merge
how ETH becoming deflationary affects Bitcoin’s narrative as digital gold
how the ESG-friendly image of Proof of Stake could affect the narratives of ETH and BTC
Thank you to our sponsors! Crypto.com
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Kevin:
Twitter
Evgeny:
Twitter
Episode Links
Previous Coverage of Unchained on the Merge:
Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury
Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH
With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold?
Why Kevin Zhou Believes Ethereum Will Have 3 Forks After the Merge
Post-Merge, If Lido Becomes Dominant, What Does That Mean for Ethereum?
ETH Proof of Work:
ChainID missing; and the request from Coinbase
Kevin’s analogy
CoinDesk article
ETHPow Token
Summary of Kevin’s thoughts
ETHPoW team’s promise to abolish EIP-1559
ETHPoW first blocks
Tether supports PoS
Circle (USDC) supports PoS
ETH Trade
Ether’s backwardation
Eth-Flexive by Arthur Hayes
Whether Ethereum’s Merge is priced in
Gauntlet’s view on the Merge
BTC correlation with stocks
ETH Post-Merge Dynamics:
Onchain Wizard post
Cumberland on the Ethereum dynamics after the merge
Miles Suter on the implications of the Merge
Learn more about your ad choices. Visit megaphone.fm/adchoices
Show highlights: what will happen at the time of the Merge according to Kevin and whether there’s uncertainty
when the ETH Proof of Work chain will emerge and how that affects trading opportunities
the mistakes of the ETHPoW team, like repealing EIP-1559
what percentage of ETH market cap ETHPoW will accrue
what the first few blocks of ETHPoW will be like
what the strategies are to earn the ETHPoW airdrop and what the on-chain activity looks like
whether there is an “up-only” monoculture in Ethereum
what stETH is, how it should be priced and what the futures market indicates
where the value of a chain comes from and the likelihood of ETHPoW failing catastrophically
how to protect from replay attacks
the price action of ETH after the Merge
how ETH becoming deflationary affects Bitcoin’s narrative as digital gold
how the ESG-friendly image of Proof of Stake could affect the narratives of ETH and BTC
Thank you to our sponsors! Crypto.com
Ava Labs
a16z
Kevin:
Evgeny:
Episode Links
Previous Coverage of Unchained on the Merge:
Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury
Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH
With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold?
Why Kevin Zhou Believes Ethereum Will Have 3 Forks After the Merge
Post-Merge, If Lido Becomes Dominant, What Does That Mean for Ethereum?
ETH Proof of Work:
ChainID missing; and the request from Coinbase
Kevin’s analogy
CoinDesk article
ETHPow Token
Summary of Kevin’s thoughts
ETHPoW team’s promise to abolish EIP-1559
ETHPoW first blocks
Tether supports PoS
Circle (USDC) supports PoS
ETH Trade
Ether’s backwardation
Eth-Flexive by Arthur Hayes
Whether Ethereum’s Merge is priced in
Gauntlet’s view on the Merge
BTC correlation with stocks
ETH Post-Merge Dynamics:
Onchain Wizard post
Cumberland on the Ethereum dynamics after the merge
Miles Suter on the implications of the Merge
Learn more about your ad choices. Visit megaphone.fm/adchoices
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