Is ETH on Its Way to Becoming Ultra-Sound Money? Yes, Says Justin Drake

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Is ETH on Its Way to Becoming Ultra-Sound Money? Yes, Says Justin Drake

Ethereum just went through its most complex upgrade ever. Justin Drake, researcher at the Ethereum Foundation, discusses what the upgrade, aka the London hard fork, means for ether’s future as what he calls “ultra-sound money.” At the end of the episode, he also drops a few Bitcoin hot takes. Show highlights:

• his background and how he got involved in crypto
• how EIP 1559 will affect Ethereum now that it is live
• why burning ether is good for the Ethereum economy
• what two concepts are crucial to understanding money
• what three ways ether is used as money
• why he believes ether will become “ultra sound money,” when gold and silver are just “sound money”
• what the main drivers of ETH’s value are
• how the merge from proof-of-work to proof-of-stake will happen for Ethereum
• how much more efficient Justin calculates proof-of-stake will be compared to proof-of-work
• why people are saying Ethereum is going through a “triple halvening”
• what factors influence how much Ethereum is issued and burned

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