Ethereum – An Investigation

Published on
November 30th, 2020
Duration
95 minutes

Today's Top Stories

Ethereum – An Investigation

The Interview - Crypto ·
Featuring Vitalik Buterin, Alex Saunders, Joseph Lubin, Kain Warwick, Hudson Jameson, Paul Brody, Ash Bennington, and Raoul Pal

Published on: November 30th, 2020 • Duration: 95 minutes

What is Ethereum? What problems was Ethereum created to solve? What might Ethereum become in the future? 'Ethereum an Investigation' attempts to answer these questions. This 90-minute documentary includes clips from interviews with key figures working on the core Ethereum protocol, as well as projects that utilize Ethereum in their business cases. The documentary features interviews with Ethereum cofounder, Vitalik Buterin, ConsenSys CEO, Joe Lubin and other key figures including Kain Warwick, founder of Synthetix, Hudson Jameson, Community Manager at the Ethereum Foundation, and Paul Brody, Principal & Global Blockchain Leader at EY. Commentary and analysis are provided by Raoul Pal, Real Vision CEO, Ash Bennington, Real Vision crypto editor, and Alex Saunders founder and CEO of Nuggets News. The roster of expert guests is rounded out by Witek Radomski, CTO and cofounder of Enjin, Preston Van Loon, cofounder of Prismatic Labs and Ethereum protocol developer, and David Hoffman, RealT chief of operations. Key Learnings: Several years after Ethereum's inception, many of the most exciting projects in the ecosystem are no longer theoretical but are now live in production and competing for fee generation. We are no longer in the realm of theory. Ethereum has created an open source, permissionless financial revolution, where even major players in traditional finance, which are known to be protective of their own proprietary code, algos, and models, are now contributing directly to Ethereum's open-source code base. The next phase of Ethereum — ETH 2.0, which has now been initiated — will increase the value proposition, provide yield to ETH holders, and reduce the cost of security.

Comments

Transcript

  • PW
    Patrick W.
    24 January 2021 @ 10:56
    Excellent summary. With the explosion of new vids, the summaries really help. Otherwise, I'd do nothing but watch RV videos all day. Wait, I have just described heaven after BTC $1,000,000.
  • LO
    Lard O.
    7 January 2021 @ 05:52
    Working for a large enterprise software company i can't wait to see how Ether Enterprise apps can be used in an integral way, will be huge. Great content, thank you for sharing
  • SS
    Soo S.
    6 January 2021 @ 17:37
    The bit about the gaming world. I watched the original Matrix in 1999 and thought it was entirely possible. We're nearly there.
  • SS
    Shanthi S.
    18 December 2020 @ 11:05
    Seems like good content, but I couldn’t watch it, thanks to that unbearable and torturous sound. Why?? Please think of your earbud wearing listeners. Arrrghh...
  • GM
    Gavin M.
    30 November 2020 @ 16:50
    I get a shock every time from the harsh sound in between videos. You might look at changing this!
    • SS
      Shanthi S.
      18 December 2020 @ 11:02
      Worst sound ever. Please never use it again!!!!
  • JJ
    Jeff J.
    1 December 2020 @ 22:27
    Watched an hour of this by myself yesterday and then the final part today with headphones due to other activity going on. First, good video. Super informative. Saved the transcript and everything. Second, when you change between individuals, find some kind of sound effect that doesnt come through the headphones like someone blowing off 50 cal rounds in your ears. The first time that happened, it was unexpected and nearly ruined my evening. Thank you.
    • PL
      Patrick L.
      2 December 2020 @ 03:37
      Totally agree about the audio effects. Very distracting from the content. I kept having to rewind because my mind was too focused on what the heck I just heard.
    • SS
      Shanthi S.
      18 December 2020 @ 10:59
      Legit thought I was going to have a seizure if I heard that horrendous sound one more time. Not kidding one bit. Worst segue sound ever. Unfortunately had to stop watching the vid. Seemed like great content, but not worth going to hospital over. That sound needs a health warning.
  • RR
    Rufus R.
    6 December 2020 @ 14:26
    How does ether not eat itself? The more it is used, the higher it's gas price, the less used it becomes...? What do I miss?
    • AT
      Anthony T.
      6 December 2020 @ 17:20
      There are two different prices: Ether price (in USD), and Gas price (in gwei). If ETH price (in USD) skyrockets due to monetary premium, then the gas price (in gwei) could drop correspondingly such that net-net, you are still paying roughly the same USD price per transaction. Secondly, the gas price is essentially an auction of who can pay the most to get their transaction processed in the next block. If scaling solutions are successful (either via L2 solutions such as Rollups or eventually Ethereum 2.0), there will be less network congestion, and the gas price will drop as well.
    • RR
      Rufus R.
      13 December 2020 @ 16:15
      Thank you.
  • TM
    Tommy M.
    8 December 2020 @ 12:32
    Can you provide the chapters, please?
  • JC
    Jamie C.
    7 December 2020 @ 00:33
    great doc!! this is a great crypto news aggregator for anyone interested: https://thedisrupt.org/
  • TT
    Tokyo T.
    3 December 2020 @ 11:38
    In a bull market, it's hard to escape "stock price bro" thinking. OK, Ethereum's price has risen and will continue, but hardly a reason why it makes life better. It would be great to know what projects make life more convenient for the average guy on the street, not crypto dudes storing/trading/loaning/staking tokens. 99% of people in the world don't care about it. I've asked every Ethereum bull, list 10 unicorns from the Ethereum platform that mainstream people can use today that disrupted an old system? It has to generate income/sales outside of shilling tokens or token clipping. Nobody had been able to name 1, let alone 10. All suggestions involved the shilling of pre-mined tokens by the founders to generate income. If the world of commerce is transitioning to profitless token-based business models, how will this be sustainable? It's a world worse than our current fiat system. It would have been cool if RV stuck to their values of NOT having a view and really investigated what is going on. How useful are most of these projects? Do they make our lives better? * Please don't answer with uniswap bro, more vol than coinbase. Swapping shitcoins for shitcoins doesn't count; it reinforces my argument above.
    • JL
      James L.
      3 December 2020 @ 16:19
      Is real vision is becoming a crypto pumping platform?
    • CH
      Crag H.
      3 December 2020 @ 17:50
      Agree 100%. Sad to see RV not asking the tough questions. It seems to me that RV really loves Eth just because it fits into the narrative of being "a transactional layer" or "the commodity layer" or whatever else that makes it easier to understand and categorize. But it's just that. A narrative. In reality it's a solution looking for a problem. RV should start with the basics. Like discussing in what situations a blockchain is *actually* needed and when it is *not* needed.
    • AW
      Aaron W.
      4 December 2020 @ 03:35
      They ignored the entire beginning of the ETH project, including its Initial Securities Offering.
    • AW
      Aaron W.
      4 December 2020 @ 03:42
      Ethereum's billionaire co-founders (8 or 12 or more depending on who you ask) also abandoned ETC which only needed a few million of dev resources to protect it from relentless 51% attacks that was heartbreaking to see while the same project looked across the fence with their billions and did nothing to help, because although Vitalik is verywerywery sorry about the DAO fork and even though they're billionaires now after using their centralized authority to fork ETH they'll neverweverwever do it again and Ethereum is reallywellywelly decentralized now they promise. Hail Vitalik.
    • TH
      T H.
      4 December 2020 @ 06:45
      This is unfair. Your criticism is not valid. Not least because it ignores the perfectly obvious fact that, with a basic mobile wallet, things like USD-pegged stablecoins (and forms of interest bearing savings accounts) are made accessible by Ethereum to billions of people around the world who live in countries that have recently experienced currency debasement, or who live in fear of it, and who may or may not have ever even had access to a bank in their entire lives. I could go on to dispute your point in full, but really, there is no percentage in it for me. It's up to everyone to do their own research around tokenomics, cash flows, potential, stage of technological progress, where all this innovation might be going, etc. That is called "alpha". If you don't believe there is any real alpha here, then don't do the research. It's as simple as that. Though, to me, it is a bit like saying in 1990 that the internet in is just a bunch of ugly furniture connected together by cables and wires. That is one perspective to have, in the realm of possibilities.
    • TL
      Tim L.
      4 December 2020 @ 11:13
      Hey Nick - all valid points. Steve Jobs once said technology should be beautiful or invisible. The blockchain is a silent, empowering layer. The programmability of money and financial instruments is going to be huge as the space continues to evolve - eg Central Bank Digital Currencies, programmable shsre certificates. When supported by tokenisation of assets that builds in your identity it will enable hacked tokens to be burnt and re-issued presenting workable regulated structures  Ethereum (and many others) present the building blocks to make this happen. The technology overall is young and continues to evolve and once use cases are seen (see my post below) the technology will become self-reinforcing and will be transformatory. For example, we have been working with a bank in an emerging market to look at the fractionalisation of gold and bonds. Emerging markets are the ones that will be absolutely devastated by the economic fall out from the pandemic requiring new financing models to be deployed. The technology enables new models. Overall it will do to financial services what the internet did to media - through the creation of the internet of value. Unfortunately patience is the key word my friend - but having been in this space for 6 years I am frustrated by the slowness of use cases but rest assured there is a tsunami of disruption on its way.
    • AT
      Anthony T.
      6 December 2020 @ 17:24
      As a non-US citizen, I've been able to use platforms such as Aave to deposit wrapped bitcoin and borrow USD stablecoins at low interest rate to buy more bitcoins when the price was still at $10K.
  • GH
    Garrett H.
    6 December 2020 @ 07:50
    First video seen on RealVision, love the transcript and ability to play without app on. Thank you for this creation!
  • JL
    Joseph L.
    5 December 2020 @ 23:06
    Great documentary! Educational talking points to help spark change for generations to come!
  • JH
    Joel H.
    5 December 2020 @ 06:07
    I can't get enough of these videos. Really enjoy learning as much I can about everything happening in the space. Thanks Guys!
  • DM
    David M.
    1 December 2020 @ 17:47
    Fed up with no one talking about XRP or XLM as they solve a lot of the issues that are being discussed.
    • RB
      Roger B.
      1 December 2020 @ 21:50
      This is obviously Bitcoin and Etherium Maxi territory
    • JG
      Joshua G.
      2 December 2020 @ 00:01
      lol
    • rc
      real c.
      2 December 2020 @ 02:07
      Stellar's consensus protocol is far superior but the investor crowd doesn't understand. Heavy bags in bitcoin and ethereum calls for commercials and shilling. But IMF WEF CBs are onboard Stellar.
    • TL
      Tim L.
      4 December 2020 @ 11:18
      I wouldn't disagree that other options should be explored - business-wise we use Algorand. The video is the beginning of RV's entree into this space and yes its perhaps unidirectional at the moment with BTC and ETH the focus but I feel sure the team will find their editorial voice to ensure the quality is as high as the main RV content.
  • JA
    John A.
    3 December 2020 @ 18:51
    I actually grew up playing MMO's and always was involved in the financial ecosystem. From sitting in East Commons in Everquest doing barter bilaterally to fighting Chinese farmers who were trying to undercut me in World of Warcraft's auction house, there has been perceived value of rare items in these games since they were created. Most often, you can approximate their value based on the time and effort required to obtain the item verse the natural inflation of the game's currency. How this space grows is very uncertain. Mostly, because these economies (with maybe the exception of Eve Online) have always been artificial and centrally managed by the game operator. Modern MMO's sell virtual currency of their own creation which allows you to either buy skins, or in some cases "pay to win" upgrades that give you an edge. These developers can control the scarcity, effectiveness of the item, and even which sub-classes (thnk the profession of your character) can use that item. I am unsure how items created in a different world would interact with other games without some sort of agreement between these developers. Maybe a company like Steam would be in the best position to create an ecosystem that niche developers could sign up to that would need to support a common item framework. But I don't see it in the interest of Ubisoft, Blizzard, Cryptic, or Bioware to join a common framework and allow potentially "overpowered pay to win" items that their competitors made the sale on work inside of their game. Profit motives aside, it could also be a nightmare to balance. Maybe developers set the value of the stats of the item, in which case they are motivated to make their own items more powerful than these "foreign" based items. That would devalue being able to bring my Warcraft Flaming Sword of Doom into Star Wars online if it is just made into a weaker version of their Flaming Lightsaber of Doom (for example). It is an interesting idea, but I can see it concentrating pricing power more into the hands of the publishers and make developers have less access to revenue streams if they are not big enough to have their own publishing platform. To make a multiverse item retain its value outside of the game, some guarantee on its relative power verse a "replacement item" would need to be immutable.
  • KT
    Katherine T.
    3 December 2020 @ 11:25
    Amazing end note from Raoul Pal.
  • GB
    Gary B.
    3 December 2020 @ 03:31
    casting is still broken on this platform
  • VD
    Vishal D.
    1 December 2020 @ 06:42
    watching this documentary is saddening because it misses all of the counterpoints...it is really a conversation that needs to take place between engineers not macro investors
    • GV
      Gerard V.
      1 December 2020 @ 15:39
      What are some engineering counterpoints?
    • CH
      Crag H.
      1 December 2020 @ 18:23
      100% RV will never bring us the engineering perspective though. Sad.
    • JA
      John A.
      1 December 2020 @ 22:39
      Speaking as someone who works in IT, it is the financial side of the spectrum that will flood the chosen ecosystems with capital and pick the winners. You can design the most elegant solution and still lose out to the generic "worse" solution simply because it has all of the capital invested. Most of these altcoin projects need time to mature and grow before they really get noticed. And most of them will collapse under their own weight or go away due to poor execution. Most likely though, because this is all open-source, the best ideas will get stolen by the "chosen" platforms and adopted into the anointed protocols. Sort of like how Microsoft grew since its inception.
    • CH
      Crag H.
      2 December 2020 @ 17:35
      @John: As an IT professional you would also know that stability and reliability is a BIG part of choosing an IT system/platform/API provider etc. Once you integrate a system into you business workflow the system just *have* to work. Downtime or intermittent issues are not accepted these days. This is why Bitcoin will win in the long run.
    • DC
      D C.
      3 December 2020 @ 00:50
      John A. Insightful and most practical take on future.
  • AK
    Ado K.
    1 December 2020 @ 00:44
    Nothing against eth, wish all the people promoting it lots of love and success in life. My reason for eth not being a store of value: Supply has been altered 3 times in 5 years. For a digital asset to have any credibility as a scarce asset the decentralization level has to be high enough so that no one single entity can alter the supply issuance. Eth first had a soft cap of 100 million, this was removed, then it would be inflation based with miners determining issuance, miners increased issuance in order to give themselves higher rewards, now core founders have pushed for a complete change of the protocol and a new usage based issuance. Obviously if issuance has been altered this frequently what stops it from being altered again? Well nothing. Eth has unfortunately not shown enough decentralization to withstand powerful actors will to change issuance rates. This makes eth a primary technology play, and not a monetary play. While this is very interesting, it does in my humble opinion fade in comparison to what Bitcoin represents.
    • RP
      Ralf P.
      1 December 2020 @ 02:27
      I think what you're saying is a bit misleading. Ethereum has changed its monetary policy, but only in the direction of a decrease. It's easy to coordinate a decrease in a decentralized system because it's so palatable to all ETH holders. The move to PoS means that less issuance is required to secure the chain. And with EIP-1559 we could even see net negative issuance. Again, coordinating these changes does not mean it's centralized, it means it's universally appealing and easy to change.
    • GB
      Graeme B.
      1 December 2020 @ 07:38
      In addition to Ralf’s point, people working in the Ethereum ecosystem have a different attitude to change than those now in Bitcoin. We see the move to Proof of Stake as a way to improve decentralisation. Loads of people I know have bought NUCs and are running Beacon chain validators from home. That’s true decentralisation and just not possible with Proof of Work chains. And the rest of scaling will come from zero-knowledge proofs. Even Bitcoin core devs acknowledge the importance of Ethereum’s progress in this area and that it’s of interest to them. It’s maybe also worth mentioning that many of those working on Ethereum once worked on Bitcoin too.
    • AK
      Ado K.
      1 December 2020 @ 13:20
      Miners increased the reward without even giving a heads up, this was obviously inflationary and not deflationary. The soft cap of 100 million is now 112 million, which is also inflationary. What you are saying does not quite add up. The mere fact that supply could be altered so easily by miners without a push back from the community is not a great thing. There are great features on eth, but as a SoV i heavily preffer BTC.
    • TP
      Timothy P.
      1 December 2020 @ 18:30
      Ding-ding-ding, we have a winner. ETH has no issuance cap, is controlled by a team that makes arbitrary decisions (hey, just like the Fed) and is subject to leadership bias "Vitalik has to be right, he's the lead of the project". It was never meant to be a speculative token, the primary use for ETH was to pay the "gas" computation fee. Now it has mutated into this unicorn-and-rainbows token that promises the world, but has to rip out its primary security method to attempt it. This isn't going to end well.
    • RP
      Ralf P.
      1 December 2020 @ 22:26
      Ado: what are you talking about miners increased the reward? As far as Im concerned that's not true. If you're referring to the 'soft cap' of 100m. I believe that was the initial target as they thought PoS would be implemented by then. It took longer than we thought. Phase 0 of PoS is now live and we're moving towards a decrease in issuance. It's also incredibly misleading to say that Bitcoin has a 'hard cap' as you need issuance to pay the miners to secure the network. When there is no inflation, there is no security, and there is no blockchain. It simply cannot work. So while absolute limited supply is great, it's just not a realistic parameter of these systems.
    • CH
      Crag H.
      2 December 2020 @ 17:50
      @Ralf: You know that miners are paid in transaction fees besides the block rewards, right? The assumption is that the chain activity will be so high when the block reward goes away that the transaction fees will be enough for miners to stay profitable. And that's like a hundred years from now..
    • MR
      Marco R.
      2 December 2020 @ 22:49
      Have you heard, that Visa is opening it’s network to USDC on ETH network? ETH has clearly another use case than BTC. Those comparisons lead to no where.
  • LS
    Leeton S.
    2 December 2020 @ 20:52
    Be great to see this broken down into a mini-series, go through those topics and concepts in more detail. Thanks for putting it together, worth a watch. Cheers
  • Sp
    Scott p.
    1 December 2020 @ 06:17
    Now that we've got the maxi Ethereum case, can we get some critique on these use cases aswell. This discussion brings up old FUD topics that have been long put to bed. Bring on Adam back to discuss why bitcoin doesn't do these things. I'v realised that Ethereum can't really do everything it purports to be able to do. It will do some things, but not all things. As far as I'm aware the Ethereum community still doesn't have a solution to prevent Proof of stake resulting in centralisation. (assuming Ethereum isn't already centralised which you can certainly argue the case for)
    • CH
      Crag H.
      1 December 2020 @ 18:27
      These guys never cared about decentralization unfortunately. Once you come to this conclusion the next logical step is to question why they use a blockchain at all.
    • CH
      Clint H.
      2 December 2020 @ 08:18
      32 ETH - Right now that is easily obtainable for those who make the financial decision - When plug & play node solutions roll out on mass scale - How is this not decentralised?
  • AW
    Aaron W.
    2 December 2020 @ 00:10
    This was not an investigation. It was a commercial.
  • RP
    Ralf P.
    1 December 2020 @ 02:36
    To everyone asking "does Hbar, Cardano, Stellar etc compete with Ethereum" It's important to know the network effects of these systems. It is not enough to simply have better technology. Ethereum has all the assets, users, and protocols to use these assets. Things like Compound for lending, Uniswap for trading. Ethereum has all the liquidity. So when you're a blockchain developer wanting to create a new application, where do you go? Do you go to Cardano that doesn't have any users, assets, tooling, and protocols? Or do you go to the platform that everyone else is using, with all the liquidity, and with all the protocols you can plug your app in to? It's just way less work, you don't have to do everything from scratch. This is why it will be very hard to unseat Ethereum as the leader. Every day that goes by, Ethereum just gets more and more useful which makes adopting other blockchains less and less likely.
    • TC
      Thomas C.
      1 December 2020 @ 04:29
      Network effects are tremendously important. Also, as ethereum's market cap goes up it will enriche the core eth team, devs and researchers. This allows them to head hunt the best talent from other projects (eth killers), and emerging youth. Vitalik has focused heavily on funding Eth research and projects. I can see the gravity of the protocol dominating the crypto space, becoming a monolith of reputation, and attracting all of the new talent, most of whom are still kids. The current trend for talented programmer Youtubers is the 'I interviewed at Google/ I aced Googles online interview' etc, I can see this becoming 'I got accepted as an Eth Intern'.
    • GV
      Gerard V.
      1 December 2020 @ 15:44
      We also saw vampire effects when Sushiswap took tons of users from uniswap. Why would it be impossible for a different chain to vampire attack ethereum as long as ERC-20 tokens could navigate?
    • TP
      Timothy P.
      1 December 2020 @ 18:25
      Don't forget the network effect of the entire ETH chain seizing up because it couldn't handle a single popular "DApp". Yes, I know the ETH faithful will hand-wave that away with the jargon-laden Proof-of-Stake rollout, but you people really are legendary for not doing due diligence before you leap.
    • RP
      Ralf P.
      1 December 2020 @ 22:21
      Timothy if you followed Ethereum development at all you'd know the incredible amount of work that has gone into scaling solutions. Even uber critic Eric Wall concedes that ZK Rollups on Ethereum offer trustless scaling.
  • DL
    Daniel L.
    30 November 2020 @ 23:11
    @49:54 All converging into 1 thing - Waiting for an investigation into Cardano now.
    • JP
      J P.
      1 December 2020 @ 20:48
      Same here...
  • SH
    Shunjie H.
    1 December 2020 @ 02:18
    Technically, how is Ethereum different from Amazon Hyperledger Fabric or Microsoft Azure?
    • VA
      Vladimir A.
      1 December 2020 @ 06:46
      Those two are owned and run by private organizations - centralized. The point of Ethereum is a decentralized network that no one person/organization can manipulate. Also, since the Ethereum network is run by tens of thousands of nodes around the world, it's more reliable, scalable, and trustable.
    • SH
      Shunjie H.
      1 December 2020 @ 11:19
      Vladimir, thanks for sharing. I mean besides the ownership, how about the software infrastructure and functionality?
    • CH
      Crag H.
      1 December 2020 @ 18:34
      Ethereum is not decentralized though. It's all sales talk. Would be better off using a SQL database administered by the Etherum foundation.
  • WG
    Web G.
    1 December 2020 @ 04:48
    Lubin dissing Bitcoin is a mistake and arrogant attitude. Bitcoin is the first and the king of crypto. Bitcoin is finished and fully functional. Etherum has its place but its not on the same level as Bitcoin and its far from being completed.
    • VD
      Vishal D.
      1 December 2020 @ 06:44
      hopefully no one buys ethereum after watching this...more importantly the fact that it was made speaks to the lack of understanding of the space. realvision cannot be an education platform if it creates content that is not educational
    • TP
      Timothy P.
      1 December 2020 @ 14:16
      Its the attitude passed on by ETH's founder, Vitalik Buterin. He coined the phrase "Bitcoin Maximalist", used as a slur against those that support Bitcoin, after the BTC devs wisely passed on his desire to "move fast, break things" with his proposals. He then decided to act out in a petty and vengeful manner, which shows in his governance. How anyone can take Vitalik seriously after the moral hazard of the DAO rollback is beyond me. They didn't solicit votes from the userbase, just Vitalik and a few devs decided for everyone that trashing transactions after a certain blockheight was A-OK. I'm glad they are doing their desperation pivot to Proof-of-Stake. The problems they are about to encounter should dampen much of the hubris we've seen displayed so far. Look out for the roadmap to be delayed, features to be removed or altered, and the general signs of "oh shit, we effed up" expressed in general disorganization and can-kicking. The market is a great equalizer. They just haven't realized it yet.
    • CH
      Crag H.
      1 December 2020 @ 18:32
      Ethereum is the real bubble in this space.
  • CK
    Chris K.
    1 December 2020 @ 02:15
    past 10 years have taught investors "dont bet against computer nerds." definitely not going to bet against vitalik and the eth army.
    • TP
      Timothy P.
      1 December 2020 @ 18:27
      My experience has been "don't use survivorship bias to confirm your beliefs". If Bitcoin falters, I'm out -- I watch key metrics daily. If ETH falters (and technically it already has) I'd be very concerned about its future. The fact that I get downvoted when I mention this rational fact tells me all I need to know about ETH's adherents.
  • PR
    Peter R.
    1 December 2020 @ 13:57
    Ethereum 2 just went live. Will be faster as it's based on proof of stake. ;-) [https://beaconscan.com/slots?epoch=0] Polkadot seems to offer the ability to develop entire (side) chains rather than just smart contracts - trying to figure out how this would be used in business terms.
  • SB
    Steven B.
    30 November 2020 @ 19:53
    Great video...however a little over my head...it would be great if you could do a truly introductory video i.e...what is proof of work, proof of stake, etc... Also, maybe bring the conversation down to the "average" guy....how will/can I purchase a vehicle using ethereum? How can I pay my employees using bitcoin?
    • PR
      Peter R.
      30 November 2020 @ 22:22
      Try these youtube clips from the "Blockchain Beard Guy"; Proof of Work --> https://youtu.be/MAOUjn0bbCU Proof of Stake --> https://youtu.be/-QKF4yKHTpg You should also note that Ethereum is moving from proof of work to proof of stake tomorrow (the 1st of December). "Pay employees sing bitcoin" - I'll not do that! There was a guy who once bought a pizza with bitcoins, today he could have bought a whole chain of pizza shops (£145 million worth!).
    • MJ
      Marcus J.
      1 December 2020 @ 11:53
      Those links that Peter R posted are exactly what I needed, I own bitcoin and ether and I was unable to explain what they are or how they work, all I knew was Raoul REALLY likes them, which was good enough for me. That man could sell coal to Newcastle
  • HV
    Hector V.
    1 December 2020 @ 11:13
    It would be great if RV also explored Polkadot and Cardano in the next 12 months as those platforms roll out features that Ethereum is still trying to achieve.
  • JS
    John S.
    1 December 2020 @ 07:03
    Real vision keeps bringing up web 3.0 and decentralizing Google and Facebook. This is exactly what Hive does, it's an undervalued gem.
  • LP
    Lord P.
    1 December 2020 @ 06:01
    Just joined, have been following RV and Saunders on youtube for a while now. Great content in the video and revealing interviews, but I had to stop at 15 minutes due to continual video lagging. I'm on fiber optic (500Mbps) so it must be from your end. I'll try back later, but totally support the new project. Ash is a great interviewer, and Raoul is one of the best speakers I've ever seen, so I look forward to watching things grow.
  • TL
    Tim L.
    1 December 2020 @ 05:48
    Guys - great video that lays the path for new entrants into the space to begin their (long) journey of discovery. The challenge for me, having been in the space since 2015 (and being an ex-banker of 20 years) is the lack of true use cases to date. We have seen the era of the 4P's - Proof of Concept, Prototype, the Pilot and the Puffing up of Chests. There are very few of the 5th P - Production-ready applications. Yes, Defi has enormous potential to showcase what can be done, and yes it offers financially rewarding yield farming models etc - but it is all based around an existing echo-chamber containing a crypto-savvy audience (of which I am proudly part) . The DeFi models, however, are only at the very beginning of where we need to be. DeFi represents, in the main, the "pawnbroking model of finance". Give me your digital assets and I will lend you 50%- 75% and my downside is covered through smart contracts underpinning the collateral that has immediate, actual value on exchanges and very little downside risk. The value proposition is relatively straight forward, which means the smart contract mantra of code = law can happen, relatively easily. The real banking system is more complex and based on (albeit flawed) fractional reserve banking, blended together with Institutional Intelligence. Without this the whole banking system would collapse. This presents challenges for DeFi and their coders. Having given keynotes at numerous conferences around Asia I always ask the coders in the audience to detail the % of bugs in their code. Anecdotally this is around the 2.5% - 7.5%. More complex banking systems will have more points of failure. So how does DeFi scale effectively? Not to say we shouldn't pay attention to Defi - we should - but it is not the be all and end all that many believe. Defi is in danger of being an open source petri dish of ideas with existing early-adopting financial players choosing to adopt the ideas. It is the CBDC's that, without doubt, will begin the very challenging and long overdue re-shaping of the whole financial system - taking the best of the cryptocurrency and Defi ideas and embedding them in the financial revolution that is about to happen. Governments and Central Bankers will increasingly come together and the geopolitical battle for digital finance supremacy will begin in earnest. As for the traditional banks, they will struggle to maintain relevancy unless they change their DNA to essentially become tech companies. It will be a fascinating 5-10 years in the financial space and Real Vision are playing a major role in providing a guiding light. Happy to help in any way I can. Tim Lea Sydney, Australia
  • OM
    Open M.
    1 December 2020 @ 04:11
    Thanks, great information.
  • MD
    Martin D.
    30 November 2020 @ 20:07
    Could Stellar compete with Ethereum ?
    • dy
      david y.
      30 November 2020 @ 20:40
      stellar is just a dex. no smart contracts yet
    • AH
      Allen H.
      30 November 2020 @ 23:30
      Very unlikely.
    • CC
      Christopher C.
      1 December 2020 @ 04:02
      No. I was an early investor in Stellar but lost faith in it. There is no market for "payment coins", in my opinion, at this point. Stable coins on Ethereum being transmitted through layer 2 (rapid) make much more sense. You avoid the price volatility and you get all the benefits of an open platform for which hundreds of decentralized financial applications exist (and growing).
  • TP
    Tom P.
    30 November 2020 @ 23:00
    I'm a dinosaur. I get bitcoin. The scarcity is its utility. With a small hop and a skip, I understand putting bitcoin onto the Ethereum network. Ethereum can solve some 'interesting' problems. It can solve problems that don't need to be solved. "A solution waiting for a problem" as is oft quipped. In time, I expect it to eventually stumble on a 'killer app'. However, for ETH to usefully solve problems that can't be solved elsewhere, it needs to be 'cheap'. If ETH is at USD 5,000, its solutions are priced out of the market of problem solving. ETH needs to be cheap, like the 1s and 0s that run in to and out of my ethernet port.
    • LS
      Lewis S.
      30 November 2020 @ 23:14
      The gas price can be cheap even if ETH is expensive.
    • ZY
      ZHENG Y.
      1 December 2020 @ 01:03
      Is ETH no limit of issuance? Or it fix issuance rate into forever?
    • RP
      Ralf P.
      1 December 2020 @ 02:31
      @ZHEENG Y It's important to understand in blockchains that issuance serves a purpose, mainly to incentivize miners to continue securing the network and adding new transactions. For Bitcoin to claim a fixed issuance that declines, they are also saying they will run out of money to pay miners. So while ETH may have some perpetual issuance, it is necessary for a blockchain to function. With ETH planning on burning transaction fees, you can still have issuance via block rewards, but net issuance will be negative because the chain will be used so much transaction fees will be burned compensating for the inflation.
    • CC
      Christopher C.
      1 December 2020 @ 03:58
      https://defipulse.com/ There's 48 decentralized finance applications for you to comb through.
  • MR
    Michael R.
    1 December 2020 @ 03:06
    We always knew that Central Banks (Fed. Res.) and fiscal monetary policy (U.S. Gov.) were connected at the hip. The CCP virus has only confirmed it. I think RV is amazing but Raoul's final comment on Central Bank Digital Currency made me have to duct tape my head. Central Banks & Governments (No difference any more) will not let a Decentralized Monetary System exist. I don't think they can stop it but their counter in a Digital Fed. Currency will only serve their purpose in trying to monitor, control & manipulate their citizens. Thank You the content is amazing.
  • SJ
    Salil J.
    1 December 2020 @ 02:15
    Well done! Please do it again with all the new updates in this space in a year or so!
  • ZY
    ZHENG Y.
    1 December 2020 @ 01:07
    One of the Best Summary on ETH, and all the expert that RV can pull in. I am totally love this format, please explore to different topic like, Gold, silver and bond. The best part is save me lots of time to revisit those video or some video that i haven’t watch yet.
  • BH
    Brad H.
    1 December 2020 @ 00:35
    I am not thinking Klaus Schwab of the WEF "who is all things centralized" wants this technology available to humanity. Maybe this is why he and the rest of the DAVOS crowd are pushing their agenda relentlessly right now before their window of oppression closes. Very informative thank you.
  • JJ
    Jerry J.
    30 November 2020 @ 20:04
    I have recently viewed BTC e al as similar to how Cloud Computing rolled out. First you had cloud storage - simple but elegant, and grew into a massive, global behemoth. That's Bitcoin. Then in 2013-15, we saw the true rollout and adoption of the a new breed of cloud storage beneficiaries, esp SAAS software providers that leveraged the cloud infrastructure to make current corporate systems better and more scalable, like we've seen w $NOW and $WDAY. This is Ethereum.
    • AK
      Ado K.
      1 December 2020 @ 00:34
      You do not understand this space good enough, and should read a lot lot more before investing into it. I am not saying this to be a dick, but rather to help you avoid pitfalls. Decentralization is a key feature for a blockchain to have any purpose at all, what decentralization model does Bitcoin have compared to other chains, becomes a crucial feature to understand.
  • ()
    ( ).
    1 December 2020 @ 00:14
    Any mention of OMG?
  • PW
    Phil W.
    30 November 2020 @ 23:52
    Good coverage of Eth and current/future landscape.
  • CW
    Chris W.
    30 November 2020 @ 21:23
    Great to have innovation in finance but as a techy I can't help thinking Solidity is worse than COBOL.
    • PR
      Peter R.
      30 November 2020 @ 22:45
      To me, it seems like a strange mix between JavaScript and C++. Don't want to see multiple inheritance [C++] ever again as I suspect it leads to coders getting multiple personalities ;-) Solidity seems to have a lot of traps too and with an attack surface of the whole world, lots of losses if you push out unsafe code. DAML might be the way forward (as SQL was for relational databases). To explain for the non-nerdy - "COBOL [Crappy Old Boring Obsolete Language] (Synonymous with evil.) A weak, verbose, and flabby language used by code grinders to do boring mindless things on dinosaur mainframes. Hackers believe that all COBOL programmers are suits or code grinders, and no self-respecting hacker will ever admit to having learned the language. Its very name is seldom uttered without ritual expressions of disgust or horror. One popular one is Edsger W. Dijkstra's famous observation that “The use of COBOL cripples the mind; its teaching should, therefore, be regarded as a criminal offense.” (from Selected Writings on Computing: A Personal Perspective) See also fear and loathing, software rot." [taken from the Jargon file].
  • KM
    Kai M.
    30 November 2020 @ 22:06
    The intro song to this was pretty deep, I went a did a cry. Check it out. https://www.youtube.com/watch?v=HJrBMh9bwmY
    • KM
      Kai M.
      30 November 2020 @ 22:06
      Hurt · Christian Langdon
  • CW
    Chris W.
    30 November 2020 @ 21:44
    The big missing piece is still identity. The fact that online signatures are still a scan of your handwritten one or some rough approximation and KYC involves sending a photo of your passport is ludicrous when private keys are used throughout the internet. Governments could issue citizens their private keys and perhaps a device to sign messages so if they lose them they can renew it and no doubt have a backdoor access to some transactions. Or individuals can generate their own at their own risk and go full sovereign or Facebook and Google will battle to offer to be the provider. That will be a big battle and privacy may or may not be a casualty.
  • DF
    Daniel F.
    30 November 2020 @ 16:47
    There are not sufficient arguments as to why ETH the token is a good investment at the current market cap of ~70B. If it is not a store of value, you only need to buy a small amount to pay for fees in a given application. If the fees grow too much, the network becomes almost unusable. If the fees go very low (which is the intention), there is an argument that the token price would also go lower since there is less of a need for it.
    • JL
      José L.
      30 November 2020 @ 17:27
      This is a good point, but if ETH was used primarily to pay for goods and services, especially inside the smart contracts ecosystem, I think the role of the fees as a source of demand would be negligible.
    • WS
      Winslow S.
      30 November 2020 @ 17:58
      It is becoming a store of value. Read about EIP 1559 to understand one reason why it's incentivized to hold. Staking is another. Enough incentives to hold, and enough network effect create Schelling pt which results in market de facto starting to treat it as a SoV. BTW Bitcoin wasn't a SoV either when it launched, for years. It takes time and maturation and cultural adoption.
    • WS
      Winslow S.
      30 November 2020 @ 18:02
      Forgot to mention its functionality as collateral for some DeFi systems, like Maker DAO. Currently ~4% of ETH is locked up collateralizing DAI stablecoin. This is already a usage of it as a SoV.
    • JJ
      Jerry J.
      30 November 2020 @ 21:03
      what if we view ETH as being less like a static coin, and more as a software system. I view ETH as being more like buying share sin MSFT 30 years ago.
  • MS
    Martin S.
    30 November 2020 @ 20:56
    AWESOME. I’m in.
  • NJ
    Nesko J.
    30 November 2020 @ 13:54
    Is Swift working on their own swift 2.0 blockchain solution? Cant imagine their are lame duck waiting ti be killed.
    • dy
      david y.
      30 November 2020 @ 15:35
      swift the banking payment network?
    • MR
      Marco R.
      30 November 2020 @ 17:05
      How and who should do that? They haven’t it done for decades. With all those legacy systems in place, it is highly unlikely that a Swift 2.0 can just be pulled out of the pocket. There is not even a rumor out, that someone is working on it
    • JL
      JAMES L.
      30 November 2020 @ 18:45
      Yep, Check out XinFin (XDC) ... and much better ETH with 2,000 tps and a block with finality every 2 seconds on DPOS with 108 kyc masternodes .... about to explode... partnerships with R3 and NDAs with big banks being integrated... will be known in next 2 months. already working with fintech validus and globiance with connections to MAS (Monetary Authority of Singapore) for stablecoins backed by MAS ... did proof of concept with ramco whose CEO praised Atul on twitter ... blockdegree edtech will run on xinfin network ... tradefinex dapp the big player with letters of credit, factoring, bills of lading in trade finance ... all xinfin by serial entrepreneur under 40 Atul Khekdade ... just under a penny right now headed to dollars by end of 2021 ... based in singapore and regulated by ADGM (Abu Dhabi Global Market) which applies English Common Law and that's being integated ino the solidity smartcontracts ... can run any ethereum smartcontract right now
    • JL
      JAMES L.
      30 November 2020 @ 19:07
      Andre Casterman, 24 years at SWIFT, is now a XinFin Network advisor https://www.linkedin.com/in/andrecasterman/
    • PR
      Peter R.
      30 November 2020 @ 20:54
      That will be why the investment banks are working on their own tokens [JPM Coin]. Expect they will start with the easier areas (straight-through processing of settlements) and then start moving up the chain until they eventually start deriving all those crazy derivatives. All the business logic gets encapsulated in the token, this will reduce the amount of dedicated back-office systems and speed the overall trade cycle up. Years back I worked on a settlement system that used SWIFT. Well designed but still an old legacy system that was written in the C programming language (80's). Don't think chainlink do a lex/yacc interface ;-)
  • RD
    Ryan D.
    30 November 2020 @ 20:46
    Could HBar compete with ETH?
  • JH
    John H.
    30 November 2020 @ 18:58
    should I stake ETH now or wait or never?
    • AB
      Anirudha B.
      30 November 2020 @ 19:44
      Staking is
    • AB
      Anirudha B.
      30 November 2020 @ 19:46
      (ignore my other comment) Being a validator requires a decent level of technical expertise and a sufficient level of understanding of the protocol. If you're up for a technical challenge and believe in the future of ETH2, please do stake by all means!
    • MR
      Marco R.
      30 November 2020 @ 20:36
      Coinbase just announced today, that they will offer staking in Q1. Once the big exchanges offers it, it will be the possibility for the non tech guys, like me, to stake. Then ETH is like a Bond with yield 👍🏻💪🏻.
  • WS
    William S.
    30 November 2020 @ 18:12
    Probably on the boards, but a suggestion: Since Crypto channel public suggest a "share" ability to fwd the video's to others in the contact list of viewers.
  • WS
    William S.
    30 November 2020 @ 17:55
    You guys nailed it again --- love this format focusing on points within prior interviews. This could be expanded to any of the various threads within RV.
  • MR
    Marco R.
    30 November 2020 @ 16:53
    I liked the video a lot. Great way to start a new week. Thank you RV!! PS. I am sure some religious BTC Maxis won‘t like this video, as all projects in crypto outside of the BTC realm. 😉