BLACK FRIDAY DEAL: GET LEDGERS for 40% OFF! 🔥🔥🔥 https://bankless.cc/ledger 🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS:  ⭐️LEDGER - 40% OFF LEDGERS THIS WK ONLY! 🔥🔥🔥 https://bankless.cc/ledger 🚀 ZERION - INVEST IN DEFI FROM ONE PLACE (download it now!) https://bankless.cc/zerion 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn ------ SotN#24: TRIUMPHANT!  w/ @nic__carter (2017 vs 2020 Bull Markets, What's Different this Time?) Nic Carter, general partner at Castle Island Ventures, cofounder of Coin Metrics, host the On The Brink Nic recently put out a medium article with 9 different Bitcoin charts showing metrics at ATHs.  https://medium.com/@nic__carter/nine-bitcoin-charts-already-at-all-time-highs-78abbfe82804 We ask Nic:  - What about this bull market is different than last time?  - What are the differences that stand out to you the most, that are going to characterize the nature of this specific bullish period?  Metrics discussed:  - Addresses with $10 of BTC or more - Open Interest on CME Futures - Realized Cap - Bitcoin Options Open Interest - BTC priced in Turkish Lira - BTC held by Grayscale - Stablecoin Free-Float - Silvergate’s Settlement Network - Growth of Crypto-Native Credit Watch the video to hear the discussion! In the SECOND HALF of the video, David and Ryan turn their attention to ETHEREUM:  Will Ethereum Capture the Bull Market?  Topics we discussed:  Ethereum and the Bull Market - The Deposit Contract received the required amount of ETH to start off ETH2 on the earliest possible date.  - Then, it received A TON more of ETH after that.  The 2017 ETH Bull market was underpinned by the possibility of ETH staking and Ethereum scaling just being around the corner The 2020 ETH Bull market has all of these same dynamics, but AHEAD of the bull market, rather than behind it.  ‘Will Staking ever come?’ and ‘Will Ethereum ever scale?’ are NOT questions that are going to be asked this bull run.  Also new this bull run: DeFi! DeFi👏makes👏capital👏sticky!👏 The capital that entered the 2017 ICO mania was FLEETING. Ethereum was 95% ICOs, and after ICOs stopped making people money, there was no reason for capital to stay put on Ethereum  Things that didn’t exist in 2017: Collateralized money markets - Maker - $2.75B - Compound - $1.7B - Aave - $1.45B AMMs - Uniswap $1.3B - Balancer $0.4B Others - Yearn - $0.5B - Synthetix - $0.8B - Nexus - $0.1B Stablecoin Supply  - $20B in stablecoin market cap on Ethereum.  PLUS, Alpha is found on Ethereum  - There’s a lot of cognitive dissonance in the world about buying Bitcoin. People have heard about Bitcoin multiple times now, and if they still don’t yet own BTC, they may have a level of cognitive dissonance about buying BTC at ATH prices.  - People wanting exposure, but not specifically wanting to buy BTC, is a significant reason as to why other assets always do so well in a bull market People want alpha - This cycle, DeFi tokens on Ethereum will capture outsized exposure to people who are trying to outperform BTC - Last cycle, it was many different PoW chains and Ethereum L1 competitors, this cycle it will be protocols and projects on Ethereum  ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website for resources http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS:  ⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTO https://bankless.cc/ledger-20 🚀ARGENT - GET THE MOST SIMPLE AND SECURE DEFI WALLET https://bankless.cc/argent 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn ----- ROLLUP: 3rd Week of November! (MARKET) What’s the Market saying?  BTC Price BTC on Ethereum - 151,925 BTC on Ethereum, up ~1,500 BTC Bitcoin as a system as reached ATH value (link) BTC unique addresses spiking upwards (link) 9 BTC metrics that are at ATHs (link) ETH Price Almost 60k ETH in the deposit contract (link) TVL in DeFi Ethereum active addresses continually marching to ATHs (link) ETH 1 cycle behind BTC (link) ETH always does well in December, 5 out of 5 times (image) Same BTC, ETH price as December 2017 (tweet) DPI Price -  $81 to $104 1 Billion DAI (DAI Stats) Grayscale $10.8B AUM (tweet) (RELEASES) What got released? RocketPool Medalla Beta testnet concludes Moving onto a new testnet that tests a RocketPool network with integrated tokenomics  Aave V2 on the Kovan testnet (link) YFI + BAL as collateral in Maker (tweet) YAM releases Umbrella product (link) Etherisc + Chainlink offers crop insurance on Kenyans (link) (NEWS) What’s in the news? Rich man invests in Bitcoin (link) Coinbase crashing (link) Paypal gets to 85% of Binance US volume in first month (link) Netherlands exchanges must ask their customers to prove ownership their own their withdrawal addresses (tweet) Binance Blocking U.S. customers, giving them 90 days to withdraw assets (link) Binance suing two journalists in anti-defamation suit (link) Jay Clayton stepping down as SEC Chairman (link) Masie Williams tweets about Bitcoin (link) Pay attention to signals like this,  Dec 2017, Lady Gaga had Cryptocurrency painted fingernails That was the top (TAKES) What’s on your mind?   David   Bitcoiner’s got triggered really fast about the Call to Action Bankless put out on wednesday Tweet, Tweet It’s because Bitcoin progress primarily occurs in the social layer, not the technological layer. They could look at Ethereum technological progress at scoff at it, because while Ethereum was building, they were marketing Now Ethereum is pretty close to being done with building, and people like me and Ryan are now rallying the troops to saw “hey, lets market the fuck out of this thing.  Big threat.    Ryan What’s the best way to get exposure to DeFi? (link)   Is ETH staking gonna make it?  105k ETH in the deposit contract Over 20% ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website for resources http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.