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Speaker 1: The coin Bureau podcast is a production of I Heart Radio.

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Speaker 1: A lot of what there, I suppose the mainstream media

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Speaker 1: is focusing on is that this switch to proof of

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Speaker 1: steak is going to dramatically reduce Ethereum's energy uses so usage.

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Speaker 1: So the what the Ethereum website is saying is drop

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Speaker 1: in how much energy the Ethereum network uses, which is

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Speaker 1: which is pretty pretty significant. Welcome everyone to a coin

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Speaker 1: Bureau podcast. His name is mad Mike Mooch. My name

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Speaker 1: is Guy, and this is the first episode of the

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Speaker 1: podcast we've recorded remotely. M That is right. The restraining

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Speaker 1: order has finally been been put into place, but finally

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Speaker 1: I've managed to get you away from me. Um Mikey,

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Speaker 1: you're in London, is that right? Yes? And I am

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Speaker 1: here in Dubai, where i've been for This is my

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Speaker 1: third weekend Dubai. Now, so I thought I just briefly

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Speaker 1: kind of mentioned to people who sort of haven't been

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Speaker 1: keeping up why I'm here in Dubai. Basically, I think

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Speaker 1: I think I've been mentioning it to you sort of

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Speaker 1: on and off for a while. It's been kind of

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Speaker 1: in the works for a bit. Basically, I've come out

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Speaker 1: here to kind of see what's going on. Really, I've

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Speaker 1: been speaking to so many people in the space and

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Speaker 1: like that. You can't really talk to someone in crypto

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Speaker 1: who kind of works in the industry. You can't really

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Speaker 1: talk to them for very long in my in my

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Speaker 1: experience without sort of Dubai coming up in in some way,

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Speaker 1: shape or forms. So yeah, I kind of thought, I've

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Speaker 1: just got to get out there spend some time. Their

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Speaker 1: loads of people, you know, kind of wanted to meet

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Speaker 1: and all that sort of stuff. So we're doing that.

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Speaker 1: Um and obviously we've got a few kind of coin

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Speaker 1: Bureau staff members who've been who are based here already,

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Speaker 1: so they've managed to sort us out with a nice

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Speaker 1: little office and studio that we can use. It's kind

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Speaker 1: of like when l A and Hollywood is two movies.

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Speaker 1: Dubai is really becoming that for crypto. Yeah, it is

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Speaker 1: the epicenter of crypto at the moment. There's a lot

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Speaker 1: of people are moving there, a lot of people are

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Speaker 1: are based there, and and there's big conferences and the

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Speaker 1: government are very favorable for it. So I think it's

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Speaker 1: it's it's I understand why you're there, you know, if

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Speaker 1: you if you're going to be making movies you'd be

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Speaker 1: you'd be in l A or Bollywood, you know what

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Speaker 1: I mean? Those are two places that are the big

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Speaker 1: filmhouse epicenters. Yeah, and and Nollywood apparent I remember reading that. Yeah, yeah,

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Speaker 1: apparently I have to check this because I'm going into

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Speaker 1: this factoid completely blind, but I think I remember reading

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Speaker 1: that Nollywood's output puts both Bolly would and Hollywood to shame.

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Speaker 1: I'm not Yeah, they apparently they just absolutely turned it

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Speaker 1: out there. I'm not sure of the overall quality, but yeah,

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Speaker 1: it's certainly a massive, massive industry. If you think our

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Speaker 1: action films are over the top, you should see some

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Speaker 1: of the Bollywood ones, and I imagine the Nollywood ones

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Speaker 1: are are probably of a similar elk. Yeah, oh wow,

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Speaker 1: Well that's that's going to be my weekend watching. This weekend.

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Speaker 1: I've got to find myself a Bollywood and let's let's

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Speaker 1: let's be let's be perfectly honest. That's not going to

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Speaker 1: be a weekend watching. You're going to be glued to Ethereum.

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Speaker 1: That's right, this week that's right, Yes, you're right, you're right.

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Speaker 1: It kind of brings me to what I was going

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Speaker 1: to talk about briefly in this episode. Yeah, basically, we're

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Speaker 1: in a kind of weird situation in crypto at the

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Speaker 1: moment because really the merge Ethereums merge, which we've talked

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Speaker 1: about a few times now, is really the only story

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Speaker 1: in town at the moment um. Obviously there's other stuff

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Speaker 1: going on in the crypto industry at the moment, but

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Speaker 1: everyone is holding their breath. It is the death of

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Speaker 1: the Queen. It's the same sort of effect on the

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Speaker 1: news cycle the Queen's death has had. It just takes

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Speaker 1: it over as the merge of Ethereum. Yes, kind of

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Speaker 1: the all. It's what everyone's talking about. I think, I

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Speaker 1: think that's I think that's very fair to say. Ye,

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Speaker 1: it's a nice analogy. Yeah, it's Um. And obviously that

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Speaker 1: is that is incredibly annoying to to some people, you know,

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Speaker 1: in terms of the Queen's death, any sort of Republicans

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Speaker 1: out there are obviously tutting into their tea at all

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Speaker 1: the blanket coverage. And I guess with Ethereum as well,

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Speaker 1: all the bitcoiners or anyone or anyone else who's just

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Speaker 1: not an Ethereum fan, I think it's just going Can

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Speaker 1: we just can we just get this over with, please

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Speaker 1: can we talk about something else? Um? And to be fair,

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Speaker 1: I think probably a lot of Ethereum fans are kind

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Speaker 1: of thinking the same thing, because it's just, you know, everyone,

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Speaker 1: I think just wants it to be to be done,

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Speaker 1: to be over. And the good news is that it

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Speaker 1: is only now. Let me check this. If you go

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Speaker 1: to Google, actually, anyone listening, if you just type in

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Speaker 1: e merge into Google, Google now has a little countdown timer. Um,

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Speaker 1: so ethery e merge countdown one day, twenty hours and

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Speaker 1: fifty eight minutes to go. Um, it's different online, and

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Speaker 1: I've just realized that's because I'm in a different time zone. Yeah, no,

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Speaker 1: mine is what hang on? Why should that be? Why

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Speaker 1: should that be different? One day? Yeah? I suppose that's why. Yeah, um, yes,

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Speaker 1: so yeah, And I think that's really interesting. You know,

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Speaker 1: even even the mighty Google is kind of acknowledging that

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Speaker 1: this is this is a big deal, because I think

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Speaker 1: when you get trapped in the crypto bubble a bit,

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Speaker 1: you tend to think that everyone, everyone, the world over

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Speaker 1: cares deeply about Ethereum's upcoming transition to proof of steak,

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Speaker 1: and then every so often you kind of get a

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Speaker 1: reality check. It's like, actually, the vast majority of people

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Speaker 1: across the world don't know and certainly don't care. Um So,

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Speaker 1: but that's in I think that's really interesting that Google

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Speaker 1: is is kind of counting down to it, and for

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Speaker 1: anyone listening or indeed watching if they're if they're particularly masochistic.

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Speaker 1: We're recording this on the on Tuesday, September, so the

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Speaker 1: merge is just a little under two days away, and

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Speaker 1: so obviously, yeah, it's we're hoping to put this episode

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Speaker 1: out pretty quickly so as so as people can hear

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Speaker 1: it and and you know, in advance of the actual merge.

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Speaker 1: But I thought as well, as well as kind of

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Speaker 1: talking about what the merge is doing and or or

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Speaker 1: hoping to do, actually I thought we could look past

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Speaker 1: the merge a little bit as well, because there are

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Speaker 1: some there are some important things to to consider. Um

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Speaker 1: But yeah, it's there's absolutely no doubt that this is

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Speaker 1: a really big moment, not just for Ethereum, but for

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Speaker 1: for cryptocurrency in general. And actually, the best analogy I've

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Speaker 1: heard of it so far has come from the Ethereum

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Speaker 1: devs themselves. They compared it to changing the engine on

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Speaker 1: a rocket ship. In midflight, which I think is that

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Speaker 1: that was gonna that was gonna just yeah, just just

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Speaker 1: just fill everyone with confidence. This could go wrong. Everyone

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Speaker 1: listens really wrong. Oh I thought it was going to

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Speaker 1: be all right, but now I've heard that. I'm actually terrified.

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Speaker 1: Um well, let me just see who's who said this?

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Speaker 1: The people who built the rocket. Yeah, so there's no doubt,

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Speaker 1: there's no doubt that there is a lot at stake.

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Speaker 1: And this is I mean, this is the reason why

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Speaker 1: the merge has been delayed for such a long time.

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Speaker 1: There was you know, it was it was originally supposed

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Speaker 1: to happen last year, really and now it's been kind

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Speaker 1: of put back again and again and again. Um, but

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Speaker 1: here we are, and it looks, you know, it looks

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Speaker 1: pretty much inevitable that it is going to happen within

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Speaker 1: the next couple of days. I should add for anyone

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Speaker 1: who might be confused, the actual timing of the merge

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Speaker 1: isn't decided by the devs that no one's actually put

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Speaker 1: a solid time on it. It's it's decided by block height.

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Speaker 1: So it's going to the merge is going to take

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Speaker 1: place at a certain block on the Ethereum blockchain, and

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Speaker 1: that of course is informed by network activity, you know,

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Speaker 1: how many people are using the network and transacting on

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Speaker 1: all this sort of thing. So it's it's not kind

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Speaker 1: of set in stone. But obviously that the little countdown timer.

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Speaker 1: Again if you if you look at that, it's kind

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Speaker 1: of taking into account. You can see the current difficulty,

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Speaker 1: the hash rate UM, all that, the merge difficulty, all

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Speaker 1: that sort of stuff. So it's, yeah, this is just

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Speaker 1: giving us a kind of timer based on based on

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Speaker 1: those calculations. So that's why you know, it's not scheduled

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Speaker 1: for midday on the September because that couldn't be done.

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Speaker 1: So all makes sense so far. Again and again we've

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Speaker 1: we've talked about the merge a bit before, haven't we. Yeah,

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Speaker 1: we we have proof of proof of steak, not proof

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Speaker 1: of work. Yeah. Yeah. Basically, the merge is the switch

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Speaker 1: to proof of steak. So the execution layer, which is

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Speaker 1: the current ethereum main chain if you like, that is

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Speaker 1: going to join with this new proof of steak consensus layer,

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Speaker 1: which is the beacon chain UM. So this, you know,

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Speaker 1: and this is the kind of big midflight rocketship engine

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Speaker 1: switch over if you like. And yeah, it's it's unprecedented

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Speaker 1: kind of in the history of software as well, and

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Speaker 1: I think this is part of the reason why Google

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Speaker 1: is kind of making a big deal of it as well.

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Speaker 1: I think anyone who anyone who works in in computing,

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Speaker 1: anyone who kind of understands just how much work has

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Speaker 1: gone into this, I think, and even if they don't

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Speaker 1: work in crypto or aren't particularly interested in crypto, I

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Speaker 1: think you can still appreciate that this is a massive,

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Speaker 1: massive job and you know, changing the entire consensus mechanism

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Speaker 1: of the second largest cryptocurrency by market cap, the busiest

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Speaker 1: networking cryptocurrency. You know, as we've talked about before, it

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Speaker 1: supports so much of what is going on in the

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Speaker 1: crypto space, which is why it's it's so relevant to

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Speaker 1: to really everyone. UM and yeah, I guess the kind

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Speaker 1: of the big headlines for it, if you like UM.

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Speaker 1: A lot of what there I suppose the mainstream media

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Speaker 1: is focusing on is that this switch to proof of

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Speaker 1: steak is going to dramatically reduce Ethereum's energy uses so usage.

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Speaker 1: So the what the Ethereum website is saying is drop

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Speaker 1: in how much energy the Ethereum network uses, which is

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Speaker 1: which is pretty pretty significant. I think that's a lot.

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Speaker 1: That is a lot. I'm I'm yeah, I'm not mathematician,

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Speaker 1: but yeah, that's a lot. That's that's a fairly bit.

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Speaker 1: That's a higher percentage than I ever got on on

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Speaker 1: any exact anything. Um. Yeah, and so it's um, it's

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Speaker 1: a it's a huge it's a huge moment in that,

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Speaker 1: And obviously that has implications for for ethereum, for cryptocurrency,

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Speaker 1: and obviously for the you know, the the native asset

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Speaker 1: of ethereum, because the speculation is that obviously UM environmental,

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Speaker 1: social and governance investing is the e s G is

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Speaker 1: now a really big thing, and there's a lot of

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Speaker 1: speculation that institutional investors haven't been comfortable about the idea

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Speaker 1: of investing in, you know, in the in the ethereum

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Speaker 1: network because it uses currently uses proof of work, which

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Speaker 1: is obviously very energy intensive, and that doesn't fit in

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Speaker 1: with the e s G goals that have kind of

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Speaker 1: taken over everyone's kind of all sort of mainstream investment thinking,

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Speaker 1: if you like, so is that through big, big like

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Speaker 1: investment companies like the black Rock. Yeah, so e s

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Speaker 1: G kind of e s G kind of grew out

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Speaker 1: of Black Rock Um, it was the it's very much

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Speaker 1: the brainchild of of Larry Fink, who is the who

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Speaker 1: is the Black Rock CEO, And he wrote a he

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Speaker 1: wrote a kind of memo to you know, to all

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Speaker 1: these firms and you know, all these kind of big

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Speaker 1: corporate entities and government entities, you know, talking about the

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Speaker 1: what he saw as the importance of of E s G.

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Speaker 1: You know, an E s G switch in how in

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Speaker 1: how people invested, and that has very much that has

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Speaker 1: very much taken over the narrative around investing now. So yeah,

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Speaker 1: the fact that the fact that the THEORYM is going

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Speaker 1: to be is going to be consuming you know, virtually

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Speaker 1: no electricity compared to what it compared to what it

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Speaker 1: currently does is big news. And um yeah, a lot

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Speaker 1: of people are expecting that we will see a lot

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Speaker 1: of institutional investment in in each kind of post merge. Um.

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Speaker 1: I think that's I think that's fairly likely. I'm I'm

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Speaker 1: kind of I'm not being too complacent on that front.

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Speaker 1: And I think, actually, you know, that's a good point

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Speaker 1: to make in general, that the expectations are certainly my

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Speaker 1: expectations are that the merge will be a success because

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Speaker 1: so much work has been done on it up to

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Speaker 1: this point. You know, they've gone through numerous test nets

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Speaker 1: we had, and numerous upgrades as well, and you know,

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Speaker 1: it's been a very much a step by step process

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Speaker 1: to get here. So I'm I'm pretty confident that they've

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Speaker 1: they've tested out, that they've gained out every possible scenario.

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Speaker 1: But of course, when you if you allow yourself to

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Speaker 1: get too complacent, you you you get a nasty surprise

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Speaker 1: in situations like this. So I'm you know, I'm I'm

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Speaker 1: kind of I've kind of hedged myself against the possibility

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Speaker 1: of something going wrong with the merge, and we shouldn't.

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Speaker 1: We shouldn't assume that it's all going to go off

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Speaker 1: the hitch. I mean, you know, it could be it

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Speaker 1: could be the they've used the rocket analogy. It could

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Speaker 1: be you know, the the Challenger disaster. NASA they are

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Speaker 1: very particulous, and they put lots of you know, work

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Speaker 1: and stuff into every one of their launches, but sometimes

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Speaker 1: you're going to get a Challenger every now and again.

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Speaker 1: That yeah, that's very true, That's very true. And yeah,

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Speaker 1: everything would have been you know, all these kind of

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Speaker 1: big disasters that happened. You know, everything is tested rigorously,

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Speaker 1: but something something still sneaks through, doesn't it. So yeah,

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Speaker 1: I think that's I think that's a good analogy in

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Speaker 1: a way as well, it should be should be wary,

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Speaker 1: That's yeah. I mean expect the unexpected, I guess is

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Speaker 1: probably a good rule of thumb. The other big kind

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Speaker 1: of headline I guess if you like about the merge

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Speaker 1: is the fact that itself is going to become a

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Speaker 1: deflationary currency. And this is this is something that a

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Speaker 1: lot of people have picked up on as a really

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Speaker 1: bullish case for long term UM. Basically, you know, in

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Speaker 1: a nutshell, more is going to be burned through transaction fees,

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Speaker 1: through the network being used than is actually being issued.

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Speaker 1: So the overall supply of post merge is expected to decline.

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Speaker 1: And obviously, when you're talking about an asset, if the

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Speaker 1: supply declines and the demand aren't stays the same or increases,

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Speaker 1: then the price of that asset will will go up.

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Speaker 1: That's you know, that's fairly that's fairly basic economics. UM.

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Speaker 1: And you know some people have UM they're saying the

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Speaker 1: move to proof of stake, where issuance is expected to

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Speaker 1: drop from a little over four percent to under half

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Speaker 1: a percent, so basically about an emission reduction um. And

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Speaker 1: some people have compared this you remember me talking in

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Speaker 1: the past about the bitcoin harving. Yeah, so yeah, so

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Speaker 1: this event that happens kind of every four years or

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Speaker 1: so when the amount of new bitcoin, the amount of

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Speaker 1: new BTC awarded issue, yeah, issued with each block is

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Speaker 1: cut in half. And that is generally, you know, that

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Speaker 1: is generally that has so far always been very bullish

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Speaker 1: for Bitcoin's price. You know that the the the issue

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Speaker 1: drops um and this the the amount the amount of

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Speaker 1: decline in issuance that eth is going to see is

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Speaker 1: expected to see post merge. People are comparing that to

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Speaker 1: basically three harvings. You know that that's that's the sort

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Speaker 1: of effect we're talking about. So if you hear this

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Speaker 1: term triple harving being being kind of kicked around in

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Speaker 1: relation to the merge, that's what that's what people are

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Speaker 1: referring to. So, yeah, there is there is a lot

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Speaker 1: of speculation that this is going to be you know,

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Speaker 1: if this is if this goes to plan, if it's successful,

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Speaker 1: this is going to be very very bullish for for

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Speaker 1: ethereum in the in the long term. And I mean

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Speaker 1: I subscribe to that view as well. But again i'd

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Speaker 1: i'd urge caution. I think a lot of people, and

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Speaker 1: I think this is as good a time as any

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Speaker 1: really to kind of talk about a few of the

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Speaker 1: misconceptions around the merge as well, um, because yeah, some

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Speaker 1: people are kind of still under the delusion that, you know,

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Speaker 1: post merge Ethereum is suddenly going to become super fast

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Speaker 1: and super cheap to use and it will be quote

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Speaker 1: unquote finished, which is which is not true, And in fact,

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Speaker 1: Vitalic himself, should I cross myself when I say that,

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Speaker 1: I don't know? Probably how should we acknowledge that maybe

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Speaker 1: we should make a sort of Ethereum triangle on our

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Speaker 1: heads whenever we say Batalic Btalic has spoken praise beat

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Speaker 1: of Metallic. He has said that Postma so lame, I'm sorry.

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Speaker 1: He has said that post merge Ethereum will only be

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Speaker 1: fifty complete, which I think is kind of exciting really.

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Speaker 1: And again, if you refer to the Ethereum website itself, um,

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Speaker 1: it says of the merge, this sets the stage for

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Speaker 1: future scaling upgrades, including charding. So although the merge is

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Speaker 1: a massive moment, although this switch to a proof of

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Speaker 1: state network is so so important. It's kind of it really,

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Speaker 1: it's just the beginning of the next phase. So no

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Speaker 1: one should see it as, you know, as as an end.

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Speaker 1: You know, it's just it's the end of one phase

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Speaker 1: at the beginning of a of an entirely new one.

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Speaker 1: And it's kind of like when Facebook did, like they'd

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Speaker 1: introduce a new sort of layout and everyone lose their

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Speaker 1: ship about it. I want the old Facebook back. I mean,

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Speaker 1: it's all terrible, ruined it, and then you know they're

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Speaker 1: ruined Facebook when and then you know, two months later,

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Speaker 1: no one's talking about it, and they're they're using all

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Speaker 1: the new features or an operating system update. That's probably

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Speaker 1: I love just here to do analogies every now and again.

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Speaker 1: You're just you're absolutely firing the analogies out today, Mike.

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Speaker 1: It's really for you, for you listeners who don't understand

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Speaker 1: what Guy is saying, which is perfectly clear and reasonable.

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Speaker 1: I'm just here to think of some stupid analogy of

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Speaker 1: a rocket crash or or social media update. I think

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Speaker 1: I think there's a there's a real beauty to it, Mikey.

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Speaker 1: I love it. I love it. I think it's yeah,

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Speaker 1: everyone because everyone goes, oh, I liked Windows? What was

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Speaker 1: the one? Everyone like? Windows? Ten? Windows? Windows? Why can't

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Speaker 1: we go back to Windows? And then yeah, the good

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Speaker 1: old days, good old days. Do you remember? It was

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Speaker 1: so it was so good. Windows was just so good.

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Speaker 1: And then yeah, a couple of months later, it's like,

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Speaker 1: what's what's Windows? Yeah? Windows XP, that was the one

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Speaker 1: I liked. Listeners comment below, what's your Let us know

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Speaker 1: what's your favorite iteration of Windows? Where we all can

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Speaker 1: be back to make resift case we're talking about people's

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Speaker 1: favorite Windows program. A lot of love going on there

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Speaker 1: for XP right now? That's my personal favorite. Um, yeah,

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Speaker 1: it's yeah, it's It's true. I think this will be

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Speaker 1: this will be something that's that's just so huge at

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Speaker 1: the moment, so taking up so much, so much of

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Speaker 1: our attention. But with a bit of luck, I think

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Speaker 1: if it does. What's interesting to me though, Yeah, what's

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Speaker 1: interesting to me though is when he says complete, So

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Speaker 1: is Ethereum just like a game? Like is he going

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Speaker 1: to complete it? What happens when you complete Ethereum? What

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Speaker 1: is the end goal? What are the what is the

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Speaker 1: the sort of final plan that he's got for it?

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Speaker 1: That's a that's a good question. That's a good question. Yeah,

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Speaker 1: it'll just say it'll just say game over, thanks for playing. Yeah,

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Speaker 1: I'm sure, I'm sure there are a lot of people

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Speaker 1: out there who genuinely believe that all these people who

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Speaker 1: sort of say ether is Ether is a scam or

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Speaker 1: ether as ethereums a Ponzi scheme. Um. That's a good question,

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Speaker 1: because yeah, there is a lot, there is a lot

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Speaker 1: still to happen, and because this is because this is cryptocurrency,

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Speaker 1: because we're dealing with you know, real next level nerds here.

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Speaker 1: They've somehow managed to make the next few stages of

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Speaker 1: Ethereum all rhyme with the word merge. So we've got

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Speaker 1: to look forward to the next thing is going to

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Speaker 1: be the surge, followed by the verge, followed by the purge,

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Speaker 1: and followed finally by by the splurge. Yeah, what happens

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Speaker 1: with the purch You don't want to know what happens?

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Speaker 1: Fotolics like, let's not let's not go there. Um No,

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Speaker 1: I'll talk through what I'll talk through what those what

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Speaker 1: those all mean in a minute, actually, because I think

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Speaker 1: this is actually, you know, I don't want to be

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Speaker 1: I don't want to be that person who's kind of

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Speaker 1: jumping the gun, you know, looking ahead, looking ahead to

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Speaker 1: all the other oddly named stages in in Ethereum's evolution

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Speaker 1: before the big one has actually even taken place. Um.

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Speaker 1: But I think in the context of what I was

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Speaker 1: saying earlier about people expecting a lot from the merge,

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Speaker 1: I think it's it's worthwhile to to look ahead and

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Speaker 1: consider these other stages. So yeah, before I do that

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Speaker 1: for anyone, anyone who's sort of finding the whole business

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Speaker 1: of the merge confusing and kind of wants to learn

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Speaker 1: more about it. Obviously, we've put out some videos on

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Speaker 1: coin bureau we We've talked about the merge a lot,

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Speaker 1: so you can check out. You can check it out.

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Speaker 1: There's also a video that I put on coin bureau

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Speaker 1: clips a few days ago how to prepare for the Merge,

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Speaker 1: which you know, I suppose you really should have watched

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Speaker 1: by now, But that is worth that is worth checking out.

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Speaker 1: But I want to recommend one which is actually the

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Speaker 1: Ethereum website has actually pinned it themselves. UM. It's by

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Speaker 1: a channel called finematics UM, and I've actually met the

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Speaker 1: chap who works on finematics. He's a really really lovely

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Speaker 1: guy and very very smart. UM and Pinematics spelt f

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Speaker 1: I n e Matics is a really really good channel.

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Speaker 1: It kind of uses um, it uses graphics kind of,

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Speaker 1: you know, to to explain what he's talking about. He

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Speaker 1: he focuses on on DeFi on decentralized finance. But he's

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Speaker 1: got a particularly good video about the merge and it's

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Speaker 1: kind of all laid out with with sort of pictures

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Speaker 1: and diagrams to help help people understand. So yeah, anyone

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Speaker 1: listening or watching for that matter, who's who still kind

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Speaker 1: of finds the finds the whole merged thing a bit confusing.

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Speaker 1: Do check that out. That's either on YouTube at pinematics

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Speaker 1: or or the Ethereum website itself. And on that Ethereum

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Speaker 1: website there are loads of good kind of explainers about

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Speaker 1: the merge and you know, a few a few sort

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Speaker 1: of f A cues if you like things like that,

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Speaker 1: so well worth checking out UM. But yeah, a couple

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Speaker 1: of other things I think worth just sort of keeping

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Speaker 1: an eye on, really or keeping a lookout for ahead

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Speaker 1: of the merge in just under two days time. Obviously,

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Speaker 1: there's going to be a lot of volatility in the

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Speaker 1: crypto market because really because because of the uncertainty, I

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Speaker 1: guess quite apart from all the other stuff, you know,

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Speaker 1: all the other kind of macroeconomic things that are moving markets.

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Speaker 1: We've actually today we've got the federal with the latest

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Speaker 1: round of inflation figures in the United States that should

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Speaker 1: be coming out very very soon. That's going to have

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Speaker 1: a big impact on the market as well. So, yeah,

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Speaker 1: if you've been following the crypto markets over the last

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Speaker 1: few days, you'll have noticed that prices are more volatile

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Speaker 1: than usual and that is only going to increase as

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Speaker 1: the merge gets nearer. And it's you kind of imagine

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Speaker 1: that that volatility will calm down after the merge if

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Speaker 1: the merge is successful, but we'll we'll kind of have

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Speaker 1: to wait and see on that really. So, Mike, if

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Speaker 1: you're going to be trading, you know, if you're going

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Speaker 1: to be trading vast amounts of shitcoin and things like that,

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Speaker 1: just be just be careful, Okay, take care out there.

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Speaker 1: Don't get don't get stone, thanks dad, um. Other things

426
00:26:12,200 --> 00:26:15,840
Speaker 1: to look out for these these hedges. So, you know,

427
00:26:15,920 --> 00:26:20,800
Speaker 1: basically the other kind of smart contract blockchains and things

428
00:26:20,840 --> 00:26:26,040
Speaker 1: like Solana Avalanche Cardano, all of these, you know, also

429
00:26:26,119 --> 00:26:29,200
Speaker 1: the layer zeros, I guess, like Polka Dot and Cosmos.

430
00:26:29,640 --> 00:26:33,760
Speaker 1: You know, they are they are particularly volatile at the

431
00:26:33,760 --> 00:26:36,440
Speaker 1: moment because a lot of people are buying buying up

432
00:26:36,760 --> 00:26:39,800
Speaker 1: those to kind of hedge their portfolios in case, in

433
00:26:39,840 --> 00:26:43,119
Speaker 1: case something does go wrong with the merge. What about

434
00:26:43,240 --> 00:26:48,240
Speaker 1: the original, the one that they've forked off, which that

435
00:26:48,320 --> 00:26:51,120
Speaker 1: guy that that hacker has got a load of, Yeah,

436
00:26:52,680 --> 00:26:58,239
Speaker 1: original Ethereum, Ethereum Classic, Yeah, classic Etherium Classic, Yeah, the

437
00:26:58,280 --> 00:27:02,640
Speaker 1: same logo just green um Yeah, Ethereum Classics. Really, it's

438
00:27:02,680 --> 00:27:06,000
Speaker 1: a it's a really interesting point actually because um yeah,

439
00:27:06,040 --> 00:27:08,400
Speaker 1: you're you're right that that came about the last time,

440
00:27:08,440 --> 00:27:11,480
Speaker 1: you know, this very contentious fork in the wake of

441
00:27:11,520 --> 00:27:16,080
Speaker 1: the dal hack. Now Ethereum Classic has has seen some

442
00:27:16,280 --> 00:27:19,560
Speaker 1: has seen quite a lot of price appreciation. It's it's

443
00:27:19,560 --> 00:27:21,719
Speaker 1: pumped quite a lot in the last few weeks. And

444
00:27:22,080 --> 00:27:26,480
Speaker 1: the reason why is that basically, when Ethereum No is

445
00:27:26,520 --> 00:27:30,840
Speaker 1: no longer proof of work, all these ethereum miners who

446
00:27:30,880 --> 00:27:36,280
Speaker 1: have their very expensive mining machines are not going to

447
00:27:36,359 --> 00:27:38,200
Speaker 1: be you know, are going to have their main source

448
00:27:38,200 --> 00:27:43,240
Speaker 1: of revenue completely cut off. So the speculation is that

449
00:27:43,320 --> 00:27:46,840
Speaker 1: a lot of them are going to switch switch their

450
00:27:46,880 --> 00:27:50,040
Speaker 1: machines over and mine Ethereum Classic instead because that is

451
00:27:50,080 --> 00:27:55,040
Speaker 1: obviously still proof of work. So um the yeah, the

452
00:27:55,160 --> 00:27:57,840
Speaker 1: reason Ethereum Classic has been pumping for that because obviously

453
00:27:57,880 --> 00:28:01,679
Speaker 1: the more miners that joined the Ethereum Classic network, the

454
00:28:01,760 --> 00:28:05,000
Speaker 1: more decentralized, and therefore the more secure it becomes, the

455
00:28:05,040 --> 00:28:08,560
Speaker 1: more hash power is being committed to it. So Ethereum

456
00:28:08,560 --> 00:28:12,520
Speaker 1: Classic has been Yeah, has been pumping quite hard people

457
00:28:12,680 --> 00:28:16,680
Speaker 1: either kind of anticipating that miners will switch over to

458
00:28:17,000 --> 00:28:20,080
Speaker 1: to you know, to that network, or just if something

459
00:28:20,160 --> 00:28:24,040
Speaker 1: does go catastrophically wrong with the merge and with you know,

460
00:28:24,240 --> 00:28:28,439
Speaker 1: Ethereum itself. So yeah, that's been e t C. The

461
00:28:28,480 --> 00:28:32,720
Speaker 1: Ethereum Classic coin that that's been m that's seen a

462
00:28:32,760 --> 00:28:36,600
Speaker 1: lot of a lot of action over the last few weeks.

463
00:28:37,920 --> 00:28:42,560
Speaker 1: Can I just ask, so what with these miners. Are

464
00:28:42,600 --> 00:28:47,520
Speaker 1: these machines able to switch over to other cryptocurrencies or

465
00:28:47,520 --> 00:28:52,840
Speaker 1: are they just specifically built for mining one coin? That

466
00:28:53,000 --> 00:28:57,600
Speaker 1: is a good question. I they can mind others, I think, um,

467
00:28:57,720 --> 00:29:01,760
Speaker 1: And you know a good example is is raven Coin,

468
00:29:01,960 --> 00:29:05,920
Speaker 1: which is has seen a lot of appreciation this week

469
00:29:05,920 --> 00:29:08,840
Speaker 1: as well because a lot of people are again speculating

470
00:29:08,920 --> 00:29:12,200
Speaker 1: that miners may switch to mining raven coin as well

471
00:29:12,320 --> 00:29:16,480
Speaker 1: in order to, you know, in order to get some income. Um,

472
00:29:16,520 --> 00:29:18,479
Speaker 1: as far as I know, I think you need in

473
00:29:18,560 --> 00:29:21,080
Speaker 1: order to mind bitcoin. I think you need you need

474
00:29:21,120 --> 00:29:25,520
Speaker 1: specialized mining equipment for that. So they ethery and miners

475
00:29:25,600 --> 00:29:28,880
Speaker 1: won't won't be able to flick a switch and suddenly

476
00:29:28,920 --> 00:29:32,960
Speaker 1: start mining bitcoin instead. Um, so yeah, I'll have to

477
00:29:33,320 --> 00:29:37,160
Speaker 1: I'll have to check exactly what the what the stipulations

478
00:29:37,160 --> 00:29:40,440
Speaker 1: are for for these for these mining machines. But yeah,

479
00:29:40,520 --> 00:29:43,160
Speaker 1: I know that it's I know the ethery miners can

480
00:29:43,240 --> 00:29:46,720
Speaker 1: mind a number of other cryptos, but yeah, they can't

481
00:29:46,760 --> 00:29:51,760
Speaker 1: mind Bitcoin for whatever reason. So vitally is another analogy

482
00:29:51,760 --> 00:29:56,120
Speaker 1: coming up here, but is almost like thatcher where she's

483
00:29:56,160 --> 00:29:59,760
Speaker 1: just shutting down the mines and forcing all the miners

484
00:30:00,480 --> 00:30:03,560
Speaker 1: to find other work or or move on to sort

485
00:30:03,560 --> 00:30:09,200
Speaker 1: of mining coal, start mining ethereum, start mine. So I

486
00:30:09,280 --> 00:30:11,680
Speaker 1: kept that one too myself. I think, well, you know,

487
00:30:11,800 --> 00:30:14,680
Speaker 1: you can't, you can't. You can't score a goal with everyone,

488
00:30:14,800 --> 00:30:21,200
Speaker 1: can you. It's I think I think I'm sure there's

489
00:30:21,240 --> 00:30:24,080
Speaker 1: I'm sure there's some sort of useful comparison. Buried in

490
00:30:24,120 --> 00:30:27,600
Speaker 1: there somewhere we got switched from mining coal to mining

491
00:30:28,600 --> 00:30:34,680
Speaker 1: soap or something. Yeah, um, yeah, so yeah, after that,

492
00:30:34,880 --> 00:30:37,280
Speaker 1: after that little detour. Yeah, that that's the reason why

493
00:30:37,360 --> 00:30:41,000
Speaker 1: Ethereum Classic has been has been doing well. The speculation

494
00:30:41,040 --> 00:30:44,959
Speaker 1: as ethereum miners will will switch to mining that um

495
00:30:45,000 --> 00:30:48,560
Speaker 1: and there is also talk now again I've mentioned before

496
00:30:48,840 --> 00:30:53,680
Speaker 1: that some ethereum miners are none too happy about this

497
00:30:53,800 --> 00:30:55,840
Speaker 1: switch to proof forstake, and you can you can kind

498
00:30:55,880 --> 00:30:58,880
Speaker 1: of see why because their main source of income is

499
00:30:58,920 --> 00:31:02,240
Speaker 1: being is being pulled out from under them. So there's

500
00:31:02,280 --> 00:31:05,360
Speaker 1: been a lot of speculation over another proof of work

501
00:31:05,440 --> 00:31:09,480
Speaker 1: fork of ethereum, and basically what that means is that

502
00:31:09,600 --> 00:31:13,640
Speaker 1: when the network switches over, a number of ethereum miners

503
00:31:13,960 --> 00:31:19,440
Speaker 1: may choose to continue mining the old chain, the mining

504
00:31:19,520 --> 00:31:23,719
Speaker 1: the proof of work chain, and that now looks like happening.

505
00:31:23,760 --> 00:31:30,520
Speaker 1: Ethereum pow Ethereum Power has been announced and plans to

506
00:31:30,600 --> 00:31:33,280
Speaker 1: launch within twenty four hours of the merge itself happening.

507
00:31:34,040 --> 00:31:39,400
Speaker 1: It has its own official Twitter and it couldn't Yeah, yeah,

508
00:31:39,400 --> 00:31:42,280
Speaker 1: so it must be. It must be on I think

509
00:31:42,280 --> 00:31:44,120
Speaker 1: as well, there is a chance there is a good

510
00:31:44,200 --> 00:31:48,640
Speaker 1: chance that that could gain some traction because the you know,

511
00:31:48,680 --> 00:31:52,600
Speaker 1: a lot of people believe very firmly that proof of

512
00:31:52,640 --> 00:31:56,080
Speaker 1: work is more secure than proof of steak. And you'll

513
00:31:56,120 --> 00:31:58,800
Speaker 1: remember that we discussed in a previous episode when we

514
00:31:58,800 --> 00:32:02,560
Speaker 1: talked about Tornado Cat that thanks to these US government

515
00:32:02,600 --> 00:32:07,480
Speaker 1: sanctions um on this mixing protocol, then now there there

516
00:32:07,560 --> 00:32:12,160
Speaker 1: is now a very genuine concern um that protocol level

517
00:32:12,240 --> 00:32:17,160
Speaker 1: censorship could be could be imposed on validators on Ethereum

518
00:32:17,920 --> 00:32:20,160
Speaker 1: once it switches to proof of steak. And this is

519
00:32:20,200 --> 00:32:22,840
Speaker 1: something that that you know, is yet to be resolved.

520
00:32:22,960 --> 00:32:26,360
Speaker 1: So I think there's certainly there's certainly an argument. You know,

521
00:32:26,400 --> 00:32:28,800
Speaker 1: I don't think a lot of people have accused these

522
00:32:28,840 --> 00:32:32,280
Speaker 1: Ethereum miners who have who voiced support for a proof

523
00:32:32,320 --> 00:32:34,479
Speaker 1: of work fork, a lot of people have accused them

524
00:32:34,520 --> 00:32:36,360
Speaker 1: of kind of greed and just saying, well, you know,

525
00:32:36,440 --> 00:32:38,080
Speaker 1: you're just you're just going to mind this as you've

526
00:32:38,080 --> 00:32:41,120
Speaker 1: got skin in the game, so yeah, exactly, you've got

527
00:32:41,200 --> 00:32:43,239
Speaker 1: to mind something, so you're just gonna mind this and

528
00:32:43,280 --> 00:32:47,000
Speaker 1: make some money off that instead. And yeah, I mean,

529
00:32:47,240 --> 00:32:49,920
Speaker 1: you know, you can you can understand why they're worried

530
00:32:49,920 --> 00:32:51,920
Speaker 1: about their income, but there is a there is a

531
00:32:51,960 --> 00:32:55,560
Speaker 1: genuine argument to be made about proof of work, you know,

532
00:32:55,720 --> 00:32:59,320
Speaker 1: security over proof of steak, especially in light of these

533
00:32:59,640 --> 00:33:03,520
Speaker 1: in life of these sanctions. So it's, um, that is

534
00:33:03,600 --> 00:33:06,360
Speaker 1: something else to to be aware of as well to

535
00:33:06,440 --> 00:33:10,360
Speaker 1: look out for, because yeah, if this proof of work

536
00:33:11,120 --> 00:33:15,720
Speaker 1: fork does gain traction M, then it's native coin, which

537
00:33:15,760 --> 00:33:18,360
Speaker 1: I think is now e W E T h W

538
00:33:19,720 --> 00:33:23,160
Speaker 1: that could you know, we could eat holders could well

539
00:33:23,200 --> 00:33:27,400
Speaker 1: receive eth W coins in the same way that Bitcoin

540
00:33:27,440 --> 00:33:32,200
Speaker 1: holders received Bitcoin cash and Ethereum holders received Ethereum Classic

541
00:33:32,640 --> 00:33:34,840
Speaker 1: after those forks. Now it's a it's a little bit

542
00:33:34,840 --> 00:33:39,200
Speaker 1: more nuanced and that that's not a nailed on certainty. Um,

543
00:33:39,200 --> 00:33:41,360
Speaker 1: but yeah, that's that's something to look out for as

544
00:33:41,840 --> 00:33:53,240
Speaker 1: as well. So, um, shall I before I think, you know,

545
00:33:53,320 --> 00:33:56,000
Speaker 1: we've we've we've talked for kind of longer than I expected,

546
00:33:56,040 --> 00:33:59,640
Speaker 1: which to be to be fair, always happens. But shall

547
00:33:59,680 --> 00:34:03,000
Speaker 1: we shall we round it off by just talking about

548
00:34:03,800 --> 00:34:07,080
Speaker 1: the surge verge purgeon splurge. Yeah, I think that's a

549
00:34:07,400 --> 00:34:09,640
Speaker 1: that's a good, good sort of way to round off this.

550
00:34:09,920 --> 00:34:15,080
Speaker 1: There's many Ethereum app Yeah, yeah, I think so. And

551
00:34:15,760 --> 00:34:18,839
Speaker 1: obviously yeah, to to look ahead, are we going to go.

552
00:34:19,200 --> 00:34:21,120
Speaker 1: Are we going to go in that order? Are we

553
00:34:21,239 --> 00:34:24,680
Speaker 1: going to go in reverse? Oh? I think we'll go

554
00:34:24,719 --> 00:34:28,160
Speaker 1: in order, because it kind of makes sense, doesn't it. Yeah,

555
00:34:28,239 --> 00:34:32,040
Speaker 1: I think one. You know, one can't happen without you know,

556
00:34:32,120 --> 00:34:35,200
Speaker 1: they have to happen in without a purge. There is

557
00:34:35,280 --> 00:34:41,400
Speaker 1: no splurge exactly exactly. Um So, yes, as I said earlier,

558
00:34:41,480 --> 00:34:45,640
Speaker 1: Vitalik himself for it is he claims that Ethereum will

559
00:34:45,680 --> 00:34:50,440
Speaker 1: only be complete post merge. So the next stage after

560
00:34:50,480 --> 00:34:55,120
Speaker 1: the merge, assuming that's all successful, is the surge. Now,

561
00:34:55,480 --> 00:34:58,120
Speaker 1: in a nutshell, this is going to be the addition

562
00:34:58,280 --> 00:35:02,920
Speaker 1: of shard change, this charding that we've talked about before

563
00:35:02,960 --> 00:35:06,080
Speaker 1: as well. This will be kind of additional chains running

564
00:35:06,080 --> 00:35:10,680
Speaker 1: alongside the Ethereum main chain, and that is going to

565
00:35:10,719 --> 00:35:13,640
Speaker 1: bring that is expected to bring this holy grail of

566
00:35:13,760 --> 00:35:19,160
Speaker 1: kind of faster transactions. Um. And the Italic has said,

567
00:35:19,840 --> 00:35:23,920
Speaker 1: you know, he's targeting one hundred thousand transactions per second,

568
00:35:25,080 --> 00:35:28,439
Speaker 1: which when you consider that Ethereum you know, currently proof

569
00:35:28,480 --> 00:35:30,400
Speaker 1: of work, but not for much longer. When you consider

570
00:35:30,440 --> 00:35:34,360
Speaker 1: that it's currently fifteen twenty transactions per second, that is,

571
00:35:34,600 --> 00:35:36,960
Speaker 1: you know, that is a big, big increase and if

572
00:35:37,000 --> 00:35:38,839
Speaker 1: they if they managed to do that, if they pull

573
00:35:38,920 --> 00:35:43,399
Speaker 1: that off one thousand tps, you know, we're talking we're

574
00:35:43,400 --> 00:35:48,880
Speaker 1: talking serious scalability, serious usability here for Ethereum. So that's

575
00:35:48,920 --> 00:35:51,920
Speaker 1: the surge. Now, we we don't really know when this

576
00:35:52,040 --> 00:35:53,920
Speaker 1: is going to happen, and I think probably it's it's

577
00:35:53,960 --> 00:35:56,839
Speaker 1: not worth speculating on that until we're actually past the

578
00:35:56,920 --> 00:36:01,040
Speaker 1: merge itself. But the surge is certainly the next stage.

579
00:36:01,760 --> 00:36:05,279
Speaker 1: So the surge will bring kind of faster transactions, hence

580
00:36:05,320 --> 00:36:09,560
Speaker 1: the name. The next one is going to be the Verge. Now,

581
00:36:09,760 --> 00:36:11,560
Speaker 1: this is going to be sort of a number of

582
00:36:11,640 --> 00:36:16,040
Speaker 1: upgrades to make it easier to become to become a

583
00:36:16,120 --> 00:36:20,160
Speaker 1: validator on Ethereum. And obviously, as you know, the validators

584
00:36:20,160 --> 00:36:22,360
Speaker 1: are the ones rather than you know, the validators on

585
00:36:22,400 --> 00:36:25,400
Speaker 1: a proof of state network are those who you know,

586
00:36:25,480 --> 00:36:29,880
Speaker 1: who stake ether and process transactions rather than miners. And

587
00:36:30,080 --> 00:36:33,040
Speaker 1: obviously the more validators there are on a proof of

588
00:36:33,080 --> 00:36:37,080
Speaker 1: state network, the more decentralized and therefore the more secure

589
00:36:37,640 --> 00:36:42,360
Speaker 1: that network becomes. So the Verge is going to hopefully

590
00:36:42,480 --> 00:36:46,040
Speaker 1: encourage that decentralization, make it easier for people to become

591
00:36:46,200 --> 00:36:49,919
Speaker 1: validators on ethereum. So that's another that's another big big

592
00:36:49,960 --> 00:36:54,040
Speaker 1: step after that is the one that everyone's worried about, obviously,

593
00:36:54,120 --> 00:36:58,560
Speaker 1: the purge. This is when it turns violent and and bloody.

594
00:36:59,320 --> 00:37:01,759
Speaker 1: Now this is basedically. The purge is kind of a

595
00:37:01,840 --> 00:37:06,000
Speaker 1: purge of old network history. And again this is kind

596
00:37:06,000 --> 00:37:10,640
Speaker 1: of aimed at decentralization and making it easier to become validators,

597
00:37:10,680 --> 00:37:14,360
Speaker 1: because if you're if you're a validator, you have to

598
00:37:14,719 --> 00:37:19,680
Speaker 1: basically store the network history of the blockchain that you're

599
00:37:19,760 --> 00:37:25,840
Speaker 1: validating on. And as the network grows, that storing that

600
00:37:25,920 --> 00:37:28,800
Speaker 1: network history, that the network history itself gets larger and

601
00:37:28,880 --> 00:37:32,760
Speaker 1: larger obviously, and storing it becomes more of a problem.

602
00:37:33,600 --> 00:37:38,200
Speaker 1: And what you don't want is a situation where it

603
00:37:38,280 --> 00:37:42,480
Speaker 1: becomes so expensive you need so much storage space to

604
00:37:42,640 --> 00:37:44,919
Speaker 1: store the whole history of the blockchain so that you can,

605
00:37:45,040 --> 00:37:47,160
Speaker 1: you know, you can refer back to it to to

606
00:37:47,160 --> 00:37:51,000
Speaker 1: to ensure transactions or balances or whatever are are what

607
00:37:51,080 --> 00:37:54,760
Speaker 1: they claim to be. Um if it becomes too difficult

608
00:37:54,800 --> 00:37:58,680
Speaker 1: to do that, then it'll lessen the number of validators

609
00:37:58,719 --> 00:38:02,719
Speaker 1: who can participate on an ethereum. So the purge, I think,

610
00:38:02,800 --> 00:38:06,040
Speaker 1: is basically looking to to sort of to slim that

611
00:38:06,120 --> 00:38:08,560
Speaker 1: network history down to get rid of you know, have

612
00:38:08,640 --> 00:38:11,279
Speaker 1: a bit of a spring clean if you like, and

613
00:38:11,640 --> 00:38:15,640
Speaker 1: enable more people to store the store the network history.

614
00:38:16,400 --> 00:38:20,960
Speaker 1: And then the splurge in in vitalis words, I quote

615
00:38:20,960 --> 00:38:23,839
Speaker 1: this from a decrypt article, was talking about it all

616
00:38:23,880 --> 00:38:29,319
Speaker 1: the other fun stuff, um which is a little which

617
00:38:29,320 --> 00:38:31,919
Speaker 1: says it's all really Yeah. So the splurge, we don't

618
00:38:31,920 --> 00:38:33,480
Speaker 1: really know too much about that, but that's going to

619
00:38:33,560 --> 00:38:37,160
Speaker 1: be lots of smaller upgrades, you know, to to to

620
00:38:37,320 --> 00:38:40,880
Speaker 1: kind of build on everything that the Merge, Surge, Virgin

621
00:38:40,960 --> 00:38:46,000
Speaker 1: Purge have have have taken before. So um, yeah, that's

622
00:38:46,040 --> 00:38:48,600
Speaker 1: what we've that's what we've got to look forward to

623
00:38:49,360 --> 00:38:52,560
Speaker 1: with with Ethereum. And I mean, as I've as I've

624
00:38:52,600 --> 00:38:54,960
Speaker 1: said a few times, this is kind of this is

625
00:38:55,040 --> 00:38:58,360
Speaker 1: kind of dependent on the success of the merge, and

626
00:38:58,800 --> 00:39:01,320
Speaker 1: this is why we're all going to be waiting with

627
00:39:01,560 --> 00:39:06,319
Speaker 1: bated breath to see how it all goes. Our Coin

628
00:39:06,360 --> 00:39:08,680
Speaker 1: Bureau are going to be doing a rolling twenty four

629
00:39:08,680 --> 00:39:13,160
Speaker 1: hour news sort of segment basically repeating the same thing

630
00:39:13,320 --> 00:39:18,000
Speaker 1: over and over again in a slightly different format, waiting

631
00:39:18,040 --> 00:39:22,040
Speaker 1: for something to happen on their YouTube channel as I

632
00:39:22,080 --> 00:39:26,759
Speaker 1: sit there looking increasingly desperate and tired. Yeah, you've got to,

633
00:39:26,800 --> 00:39:28,719
Speaker 1: You've got to. You've got to find new ways of

634
00:39:28,760 --> 00:39:37,040
Speaker 1: describing vitalik Um. You know, he's he's he's a genius,

635
00:39:37,320 --> 00:39:39,719
Speaker 1: or as some would say, you know, there's a lot,

636
00:39:39,960 --> 00:39:44,160
Speaker 1: there's a lot riding on this and it's fortunately not

637
00:39:44,920 --> 00:39:47,080
Speaker 1: although I can see that. Yes, and and we'll we're

638
00:39:47,120 --> 00:39:49,160
Speaker 1: just gonna wake up, just gonna wait to see how

639
00:39:49,160 --> 00:39:51,920
Speaker 1: it goes. It's like like Brexit or a U. S election.

640
00:39:51,920 --> 00:39:53,600
Speaker 1: You kind of just wake up the next day and go,

641
00:39:54,160 --> 00:39:56,359
Speaker 1: so what happened? Who won? The fight has gone on,

642
00:39:56,719 --> 00:40:00,400
Speaker 1: the world has changed. Yes, I think I am actually

643
00:40:01,040 --> 00:40:04,520
Speaker 1: I am going to be joining a sort of a

644
00:40:04,560 --> 00:40:09,920
Speaker 1: live stream party with the folks from Crypto Slate among others. Um,

645
00:40:10,000 --> 00:40:12,080
Speaker 1: so we're going to be kind of watching that in

646
00:40:12,120 --> 00:40:17,120
Speaker 1: real time over zoom for from wherever. Are interesting. Yeah,

647
00:40:17,320 --> 00:40:20,799
Speaker 1: I think I'll do a little live live podcast. Yeah, yeah,

648
00:40:20,880 --> 00:40:22,920
Speaker 1: I think that will be. Yeah, that'll be. That'll be

649
00:40:22,920 --> 00:40:25,480
Speaker 1: an interesting thing to see a gathering of gathering of

650
00:40:25,520 --> 00:40:29,640
Speaker 1: people to watch something happen on a computer screen. M

651
00:40:30,120 --> 00:40:34,279
Speaker 1: I must say, I quite like the idea of I

652
00:40:35,880 --> 00:40:39,280
Speaker 1: quite like the idea of of a sort of frenzies

653
00:40:39,280 --> 00:40:42,759
Speaker 1: and increasingly desperate constant rolling news a bit like well,

654
00:40:42,800 --> 00:40:45,680
Speaker 1: I guess, a bit like um, everything that's happening with

655
00:40:45,680 --> 00:40:47,600
Speaker 1: the Queen, you know, where they desperately try and bring

656
00:40:47,640 --> 00:40:51,320
Speaker 1: you new content or perhaps a better a better analogy

657
00:40:51,400 --> 00:40:54,560
Speaker 1: transfer deadline day, you know, when you've got the guys

658
00:40:54,600 --> 00:40:56,560
Speaker 1: on Sky Sports and it's sort of like we've got

659
00:40:56,600 --> 00:41:02,800
Speaker 1: some big news no coming in from Peterborough. Um, well, yeah,

660
00:41:02,040 --> 00:41:04,919
Speaker 1: well do you have a time for that? That's hard

661
00:41:04,960 --> 00:41:07,399
Speaker 1: to sort of put it into the diary when it's

662
00:41:07,480 --> 00:41:09,480
Speaker 1: kind of a little bit more up in the air

663
00:41:09,640 --> 00:41:13,719
Speaker 1: with with you know, blockchain difficult, it's a little bit

664
00:41:13,760 --> 00:41:17,200
Speaker 1: it's a little bit free form at the moment. But yeah,

665
00:41:17,640 --> 00:41:19,320
Speaker 1: will it get will it get a bit more obvious

666
00:41:19,360 --> 00:41:22,600
Speaker 1: when when we're closer to it? I think, so I guess,

667
00:41:22,719 --> 00:41:26,480
Speaker 1: because yeah, I I guess as it gets closer, you know,

668
00:41:27,120 --> 00:41:29,920
Speaker 1: you're you're dealing with kind of smaller numbers. This is

669
00:41:29,920 --> 00:41:33,799
Speaker 1: like the this is Ethereum's millennium bug? Is it going

670
00:41:33,840 --> 00:41:36,680
Speaker 1: to happen? Is it not? It's actually I've just refreshed it.

671
00:41:36,760 --> 00:41:39,439
Speaker 1: So when we started talking less than an hour ago,

672
00:41:39,560 --> 00:41:42,200
Speaker 1: it said one day twenty hours, it's now one day

673
00:41:42,280 --> 00:41:47,960
Speaker 1: seventeen hours. So yeah, it's it's picking up basically. Basically,

674
00:41:48,000 --> 00:41:51,480
Speaker 1: everyone keep your eyes open because blink and you know,

675
00:41:51,520 --> 00:41:54,960
Speaker 1: blink and you might miss it. Um. But yeah, I

676
00:41:55,000 --> 00:41:57,840
Speaker 1: think to round it all off, this is this is

677
00:41:57,840 --> 00:42:01,880
Speaker 1: going to be a really interesting and really consequential event.

678
00:42:02,000 --> 00:42:05,480
Speaker 1: And even if you're not an Ethereum fan, or you're

679
00:42:05,520 --> 00:42:08,640
Speaker 1: not an eighth holder, um, if you if you care

680
00:42:08,680 --> 00:42:13,200
Speaker 1: about cryptocurrency, if you're interested in the industry in any way,

681
00:42:13,200 --> 00:42:15,080
Speaker 1: shape or form, then this is something that you should

682
00:42:15,080 --> 00:42:18,280
Speaker 1: be paying close attention to because it's going to have huge,

683
00:42:18,520 --> 00:42:24,359
Speaker 1: huge consequences whatever happens. Um. And yeah, I for one

684
00:42:25,040 --> 00:42:27,400
Speaker 1: fingers crossed that it's going to be going to be

685
00:42:27,440 --> 00:42:32,319
Speaker 1: a big success because of course, because I'm certainly getting

686
00:42:32,360 --> 00:42:35,920
Speaker 1: sick about sick of talking about it. Well, we've also

687
00:42:36,120 --> 00:42:38,960
Speaker 1: that we've had a lot of a lot of a

688
00:42:38,960 --> 00:42:42,040
Speaker 1: lot of els in crypto at the moment, and a

689
00:42:42,080 --> 00:42:45,160
Speaker 1: lot of people have lost a lot of money that

690
00:42:45,239 --> 00:42:47,520
Speaker 1: you know, they may have you know, put put all

691
00:42:47,520 --> 00:42:49,480
Speaker 1: of their life savings in. I'm sure a lot of

692
00:42:49,520 --> 00:42:53,240
Speaker 1: people are in that similar boat with Ethereum. And for

693
00:42:53,480 --> 00:42:56,160
Speaker 1: the benefit of everyone who is a holder and for

694
00:42:56,200 --> 00:42:58,920
Speaker 1: the general benefit of crypto. We generally do hope this

695
00:42:59,040 --> 00:43:02,520
Speaker 1: does go smoothly, and you know, it's the next step

696
00:43:02,560 --> 00:43:05,640
Speaker 1: in in what could be an exciting era for for

697
00:43:05,640 --> 00:43:09,839
Speaker 1: for crypto and you know all of the the other

698
00:43:09,920 --> 00:43:14,160
Speaker 1: layer technologies that that are happening with a very true Mikey,

699
00:43:14,200 --> 00:43:16,279
Speaker 1: I hadn't, I hadn't thought of it like that. But yeah,

700
00:43:16,320 --> 00:43:20,200
Speaker 1: the crypto community, we've we've we've had a hell of

701
00:43:20,200 --> 00:43:22,960
Speaker 1: a year this year. We don't need, we really don't

702
00:43:23,000 --> 00:43:28,719
Speaker 1: need another another thing going wrong. So yeah, but yeah,

703
00:43:30,560 --> 00:43:32,440
Speaker 1: are we gonna are we gonna catch up later in

704
00:43:32,480 --> 00:43:35,000
Speaker 1: this week and are you going to tell me what's

705
00:43:35,000 --> 00:43:38,399
Speaker 1: happening later? Yeah, that's the plan, I think so, yeah,

706
00:43:38,520 --> 00:43:41,200
Speaker 1: I think we Well, let's see, we might get a

707
00:43:41,280 --> 00:43:45,040
Speaker 1: chance to talk on Friday, or perhaps wait until the

708
00:43:45,120 --> 00:43:48,160
Speaker 1: duster settled and kind of you know, maybe record something

709
00:43:48,200 --> 00:43:51,200
Speaker 1: next week when when the mergers is a bit further

710
00:43:51,280 --> 00:43:53,160
Speaker 1: in the rear view mirror and we can sort of

711
00:43:53,200 --> 00:43:59,080
Speaker 1: digest what's what's happened. Um and hopefully hopefully, Mikey, that

712
00:43:59,080 --> 00:44:02,600
Speaker 1: will be quite a boring episode because we'll just be

713
00:44:05,680 --> 00:44:10,680
Speaker 1: rather than me sitting sitting there, it's like that. W Yeah,

714
00:44:10,719 --> 00:44:13,239
Speaker 1: that's all very boring, wasn't it. That's that's ideally what

715
00:44:13,280 --> 00:44:16,200
Speaker 1: we want other than okay, guys, so is this the end?

716
00:44:16,560 --> 00:44:19,719
Speaker 1: What do we do now? Just just fires in the

717
00:44:19,760 --> 00:44:23,000
Speaker 1: background and everything. Yeah, let's hope, let's hope our next

718
00:44:23,000 --> 00:44:28,960
Speaker 1: episode is really really boring. Thank you, Thank you very

719
00:44:29,000 --> 00:44:32,280
Speaker 1: much everyone for listening. I hope and may the merge

720
00:44:32,320 --> 00:44:34,920
Speaker 1: be with you, and let's hope you can join us.

721
00:44:35,880 --> 00:44:38,200
Speaker 1: Maybe it's alyck bless you, and I hope you can

722
00:44:38,239 --> 00:44:42,200
Speaker 1: join us next time. Yeah, I hope you will. Hope

723
00:44:42,239 --> 00:44:45,520
Speaker 1: you can. That would be great if you're good. I

724
00:44:45,520 --> 00:44:48,520
Speaker 1: hope it all goes well. All right, bye, Thank you

725
00:44:48,640 --> 00:44:51,279
Speaker 1: so much for listening to the coin Bureau podcast. If

726
00:44:51,320 --> 00:44:54,120
Speaker 1: you'd like to learn more about cryptocurrency, you can visit

727
00:44:54,120 --> 00:44:57,880
Speaker 1: our YouTube channel at YouTube dot com forward slash coin Bureau.

728
00:44:58,320 --> 00:45:00,319
Speaker 1: You can also go to coin bureau dot com for

729
00:45:00,400 --> 00:45:03,640
Speaker 1: loads more information about all things crypto. You can follow

730
00:45:03,640 --> 00:45:06,160
Speaker 1: me on Twitter at coin beera or one word, and

731
00:45:06,239 --> 00:45:09,799
Speaker 1: I'm also active on TikTok and Instagram as well. First

732
00:45:09,800 --> 00:45:12,840
Speaker 1: of all, it's not thank you for listening. You're welcome

733
00:45:13,160 --> 00:45:17,520
Speaker 1: for great content. Yeah, like this is free and they're

734
00:45:17,560 --> 00:45:21,480
Speaker 1: learning about a fairly great topic in a non boring way.

735
00:45:21,840 --> 00:45:24,160
Speaker 1: If you'd like to visit me and hear more about me,

736
00:45:24,880 --> 00:45:27,440
Speaker 1: go to Mooch About m O O C H A

737
00:45:27,640 --> 00:45:40,759
Speaker 1: b O U T or else. For more podcasts from

738
00:45:40,760 --> 00:45:44,640
Speaker 1: I Heart Radio, visit the i heart Radio app, Apple Podcasts,

739
00:45:44,800 --> 00:45:55,680
Speaker 1: or wherever we get your podcasts. The coin Beera podcast

740
00:45:55,800 --> 00:46:06,759
Speaker 1: is a production of I Heart Radio st