Bankless

Share this post
ETH is money
newsletter.banklesshq.com

ETH is money

Ethereum took center stage as a global money this week in one of the world's most prestigious venues

Ryan Sean Adams
Nov 20, 2021
19
2
Share this post
ETH is money
newsletter.banklesshq.com
Image

Want to go full-time DAO but need health benefits? Opolis provides benefits to DAO workers.

Get 1000 $WORK & $BANK when you join.


Dear Bankless Nation,

ETH is money.

We were saying it before it was cool.

Twitter avatar for @RyanSAdamsRYAN SΞAN ADAMS - rsa.eth 🦇🔊 @RyanSAdams
Stage 1: ETH is money 😎 Stage 2: Money is ETH 🤯

September 17th 2019

4 Retweets43 Likes

Actually…it was very uncool when we first started saying it in 2018 and 2019.

  • Ethereum developers saw it as as shilly price talk (we argued that price talk and security talk are one in the same).

  • Bitcoin maximalists said only bitcoin could be money (we argued that anything that’s used as money can become a money).

  • Investors said ETH was just gas and could never be money (we argued that ETH isn’t gas…it’s *gas money* like the PetroDollar).

Speculators laughed at us because ETH price was in the dumpster. Mainstream didn’t care because “crypto is dead”. And the Ethereum community itself was so shaken by the crypto winter it didn’t know what to believe.

“ETH is money” we said.

There was a small group of believers.

Our friends at ETH Hub, DC Investor on Reddit, and members of MolochDAO to name the more visible. There were thousands of silent holders who saw it too.

Lucas published the Trillion Dollar Case for ETH in Bankless when ETH was $163.

“ETH is money” he said.

It still sounded crazy at the time.

This year it stopped sounding so crazy.

Last week a DAO raised $50m to buy one of the original copies of the U.S. Constitution at Sotheby’s. A group of strangers on the internet pooled $50m in capital to bid on one of the most important documents in American history from the most prestigious fine arts companies in the world. An incredible story in itself.

But something else caught my attention as I watched Thursday night’s auction.

At that same auction, countless other priceless artifacts and art pieces were for sale. Bids came pouring in from around the globe denominated in all the world’s major monies—USD, JPY, EUR, CHF….and ETH??

Just take a look at the world currencies accepted at Sotheby’s. ☝️

ETH listed among the world currencies?

At Sotheby’s??

Surreal how far we’ve come so fast.

While the ConsitutionDAO end up narrowly losing the auction to a billionaire hedge fund manager 😠, this whole episode demonstrated the power of these internet native capital pools that we call DAOs.

This was the first time in history we’ve seen a crowdfund this grow this large in a 72 hour timespan—and we did it without banks.

The world is learning.

DAOs are powerful.

DeFi is here.

ETH IS MONEY.

No. I’m not worried that crypto prices went down this week.

Here’s what’s lined up for next week:

  • Epic podcast with the Head of Crypto at Visa!

  • Lucas is dropping the best barbell strategy for crypto natives

  • Bankless Nation shares what we’re grateful for :)

Enjoy the weekend.

- RSA

P.S. For more price therapy listen to our episode with quant chartist Ben Cowen.


🙏 Sponsor: Lido—simplified and secure liquid staking for digital assets.


Recap for the week of November 15th, 2021


🎙️WEEKLY PODCAST EPISODE

Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed


ACTION RECAP 📚

  1. Understand why web3 will win

  2. Bid on NFTs with your friends

  3. Compare the best zkRollups on the market today 🔥

  4. Capitalize on the opportunity of a lifetime

  5. Speculate if this is the end of the bull run

WATCH & LISTEN 🔊

  1. 🎙️ Listen The Fight for the Future of Money | Chris “Crypto Dad” Gancarlo

  2. 📺 Watch Layer Zero: Gmoney

  3. 📺 Watch SotN: State of Crypto Charts | Benjamin Cowen

  4. 📺 Watch Rollup: Constitution DAO | Tarantino NFT | Fei x Rari

  5. 📺 Watch Overpriced JPEGs: Approaching NFTs | Zeneca_33 (new bankless show!)

METAVERSAL 🧙‍♂️

  1. The NFT Era

  2. Batch trading NFTs with Genie

  3. Welcome PartyBid 2.0

BANKLESS DAO 🏴

  1. Overview of the DAO ecosystem | State of the DAOs #3

  2. Ibiza NXT 2021 | Decentralized Arts


Weekly Subscriber Perks 🔥

Bankless Premium Members get access to perks like these:

  • Full Access: Web3 will win

  • Exclusive: Debrief following The Fight for the Future of Money

  • Exclusive: Alpha Alert—Saddle Finance Airdrop!

Launch your own raffle for Bankless Badge holders! Go ahead. We can’t stop you.

Get Bankless Badge


🎙️ STATE OF THE NATION

Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed

We live stream State of the Nation at 2pm EST every Tuesday!


🗞️ Latest Weekly Rollup. Download the week in crypto to your brain.

Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed


Jobs opportunities 🧑‍💼

✨ See all listings on the Bankless Job Board✨

  • Analyst: NFT Specialist at Bitwise Asset Management

  • Analyst: Smart Contract Platforms & Web3 at Bitwise Asset Management (✅ technical!)

  • Analyst: Governance Specialist at Bitwise Asset Management

  • Head of Growth at DexGuru

  • Technical Lead at Draftly (✅ technical!)

  • Lead Engineer at Hats Finance (✅ technical!)

  • Community Builder & Developer Evangelist at Dexible

  • Head of Tokens at Immutable (✅ technical!)

  • Head of Ethereum Research at Immutable (✅ technical!)

  • CTO at eAgronom (✅ technical!)

  • Community Manager at eAgronom

  • Community Manager at Aragon

  • Product Manager at SmartDeFi

  • Accountant at SmartDeFi



Go Bankless. $22 / mo. Includes archive access, Inner Circle & Badge—(pay w/ crypto)


🙏Thanks to our sponsor

Lido

👉 Stake your crypto assets on Lido—now supports ETH, SOL, and LUNA

Lido lets users stake their assets and receive a tokenized derivative that automatically earns daily rewards. With Lido, your staked assets can be used across the DeFi ecosystem. You can lend, borrow, and more with your assets while maximizing your yield. Stake with Lido.

Image

Tag Bankless on twitter and tell us how you’re going bankless for 3 x 🔥

Hi @LenklaH 👋👋👋

Twitter avatar for @LenklaHLenkla Hu⬙kova @LenklaH
Sporting my new @BanklessHQ 🤠 👋 hi @TrustlessState!
Image

November 16th 2021

5 Retweets136 Likes

Want to get featured on Bankless? Send your article to submissions@banklesshq.com

Write for Bankless


Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

2
Share this post
ETH is money
newsletter.banklesshq.com
2 Comments

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

Ramon Reyes
Nov 22, 2021

They got a free pass from the SEC but, follow the Ripple Vs. SEC case and you will have many other things to publish. XRP will be money, it is faster, more secure and more decentralized than ETH and BTC. Just wait pay attention.

Expand full comment
ReplyCollapse
Jean Rodriguez
Nov 26, 2021

ETH is dominating all financial transactions and payments in all sectors. It is also one of the top cryptocurrencies to invest in 2022. Most of the investors are looking towards ETH for obtaining good results in the coming days. It is the best cryptocurrency known for empowering thousands of decentralized applications to ensure there is a fairer financial system. Read this blog https://www.dexfolio.org/blog-posts/dex-swaps-tracking to learn about dex swaps tracking.

Expand full comment
ReplyCollapse
TopNewCommunity

No posts

Ready for more?

© 2022 Bankless, LLC.
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing