Unchained The Chopping Block: Why ETH Dumped So Hard After the Merge - Ep. 400
Sep 24, 2022
The hosts dive into the surprising slump of Ethereum's price post-Merge, questioning market dynamics and investor behavior. They debate the potential flaws in Bitcoin's security model and the challenges facing the Lightning Network amid rising competitors. The fallout from the Terra collapse and its implications for legislation on stablecoins spark intense discussion. The conversation also touches on the Wintermute hack, accountability in crypto, and the balance between regulation and innovation in the ever-evolving digital asset landscape.
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The Merge and ETH Price Dump
- Ethereum's post-merge price dump was likely due to overcrowded spot-long, perp-short positions.
- Traders sought the ETHPoW airdrop but sold spot ETH due to low liquidity and tax concerns.
Bitcoin's Security Budget
- Robert Leshner believes Bitcoin's security model is flawed, as transaction fees haven't replaced block rewards.
- He predicts Bitcoin will change, potentially through a tail emission, to maintain network security.
Bitcoin Development and Lightning Network
- Tarun Chitra is bearish on Bitcoin development due to resistance to improvements.
- He thinks Lightning Network's progress is slow compared to alternatives, hindering adoption.