How Should ETH Be Valued? | Ryan Berckmans vs. Jon Charbonneau
Episode publishedPodcast: BanklessBankless
Transcript preview
Preview only
Bankless nation. We got John Charbonneau and Ryan Bergmans on a debate today. We're debating a handful of topics that all point towards each other. We're gonna go through four different questions. We're probably gonna touch on all of them if we have time. Is Ethereum special versus alt layer ones? Is Bitcoin a special snowflake? How should ETH be valued? And is ETH over or undervalued? Ryan, welcome to Bankless. Thanks.
Good to be here. And
John, also welcome to Bankless. How's
it going? I would like
a clean fight from both of you gentlemen. Shake hands, and let's get off to the races. Ryan b, I'm gonna throw this one to you. Is Ethereum special versus alternative layer ones? What do you think?
Absolutely, David. The world is coming on chain. We're gonna level up the whole global economy and boost productivity by applying both on chain technologies as well as decentralization. It's gonna increase wealth. And while, many different chains can provide the same things such as ERC standards, the transactional model, giving all users public and private keys, you know, so that, you can kinda level up the the privacy and interaction model. It's really only Ethereum that, provides the level of neutrality to serve as a global hub so that the entire global economy can be brought on chain, with
John, same question to you. Is Ethereum special versus all air ones?
I would say no. And I'll also just dovetail off of that last point of I don't think that ETH has been rerating closer towards BTC. I think it has been consistently rerating further away from BTC over the past few years. And I think that's actually a pretty strong reflection of what my general view is, which is Bitcoin is the only chain that is of any of these layer ones that is actually special. And what I mean by special there in a more literal sense is that Bitcoin is the only chain in my view that gets to just play by a different set of rules from everyone else as a product of it's obviousl
And, you know, I I think John makes a great point that Ethereum's price versus Bitcoin has been catastrophically collapsing over the past few years. And the reversal really only started in the last few months, and we're at the very early stages of that. And the timing for the reversal is not, a coincidence. It's not accidental. It it is fundamentally driven by the fact that Ethereum's underperformance financially and in terms of sentiment and and as well as in terms of l one, demand growth over the past few years has really been driven by three separate issues. The issue was that the previous
Keep exploring with a free account.
A free account preserves the short preview. Upgrade to Pro for the full transcript and episode chat.