Ethereum

“I think it's going to be very successful. I'm just not sure I would buy ETH at the current value because of that math.”

“So I think what you're going to see is a spectrum. So some assets are going to trade 24 seven. I mean, many assets already do. Bitcoin is traded 24 seven. Ethereum is traded 24 seven. For traditional assets, maybe the larger issues will trade 24 seven, but you…”

“It's very hard for sort of a for-profit corporation to create a standard that's gonna be widely adopted, because, of course, everyone knows that a lot of value is going to accrue to that corporation, and so you get all these sort of strategic forces that preve…”

“Now, Ethereum, and Algorand, and EOS, and Dfinity, and all of these other protocols are vying to be Web. This decentralized global supercomputer where we process data in a private or cryptographic way to retain our privacy and bring efficiency, and this wonder…”

“When I look back on my life, the Ethereum trade probably is the greatest trade I ever had because I sold it. Some at a hundred and some at three 50 and bought it back and some at a thousand.”

“I actually bought Ethereum from Vitalik. No one else was selling, so I called him up, and he remembered me from the dinner, so he sold me some of his Ethereum at 96 cents, one of my great buys of life.”

“Stanford has a blockchain cryptocurrency course for computer science undergraduates. It's the second most popular computer science course at Stanford. About 200 students and almost all of them at the end of the course build applications on Ethereum.”

“I call blockchains computers that can make commitments. And so what that means is you write some software on the Ethereum computer and you can write some software that says, I'm going to build a social network. And on this social network, I'm going to commit t…”

“And that currently, I think the current numbers, if you look today, there's something like twelve billion dollars, billion with a B in those protocols being lent out as we speak.”

“It's probably the case that a lot of those assets over time won't even come close to the performance that I see out of these two assets.”

“The upside versus downside is so skewed to the upside that the most important thing I can do as a fiduciary for my clients, which are big institutional investors, they're not small mom and pop punters or Robin Hood investors, they're just Institution. So the m…”

“And pretty much anything that is being built on Ethereum can just as easily be deployed on Ethereum Classic. Very, very similar code bases with a couple of just different underlying philosophical distinguishing factors between the two protocols that really are…”

“It's over five billion dollars now, that product, and that now has emerged as the largest Ethereum fund in the world.”

“Twenty-twenty saw two new groups from our standpoint. One was the emergence of the Ethereum-only or Ethereum-first investor, which was just really interesting. I think kind of going alongside the proliferation and interest that we've It's seen in DeFi or decen…”

“And I started to see a lot of really interesting buzz around Ethereum. This was just at the ICO period in 2014, but I said, I want to put a little bit of a bet here. I think this is quite interesting. A lot of people who understand way more about what's happen…”

“Immense amount of activity in DeFi going from under seven hundred million of collateral locked in the system at the beginning of 2020 To around forty billion today.”

“And I think we're certainly seeing in the institutional conversations that we're having a very quick progression from either Bitcoin alone or Bitcoin and Ethereum to start to looking at a broader set of crypto assets. And it's not a two year progression. It's …”

“And then increasingly, we're also having more movement towards layer two, like protocols built on top of Ethereum, because people do want to be less energy intensive when it comes to verifying Ownership on a blockchain. So there's going to be less of that narr…”

“We also have for where it's appropriate, which get, it's a definitely a subset of our clients, small, but I would call index, quasi index positions, Bitcoin, Ethereum, Positions that we basically are doing it as if an index, but this is way out on the risk rew…”

“I view Bitcoin as the gold of the crypto world. I view Ethereum as oil for the crypto world or the energy.”

“What we saw was the ability to use code to create a new type of human economic coordination, like a new type of firm. And we thought, oh, this is what internet native businesses Will look like this is going to be the next big type of organization.”

“And now we have Solana, which is like broadband, To Ethereum's dial-up.”

“In 2016, you really couldn't build anything on Ethereum. It didn't work, and like, you could never really build anything on Bitcoin.”

“And if you look at what Bitcoin is, it's a good first crack at solving a pretty fundamental technology problem, but it's not actually designed very well for all of the things that even the earliest people on the internet wanted to be able to do.”

“Even Ethereum is still an experiment. It may not be scalable.”

“And what usually happens is we'll hedge with some super liquid assets that we can do very cheaply, specifically perpetual futures contracts in Ethereum, Bitcoin, and a couple others.”

“And in fact, Ted, if you look at how Ethereum performed over the past few years, it's beat most funds, net of fees.”

“All the activity is happening in these low fee environments because you need fast and cheap to make the game use case work.”

“Within Nexus Mutual, there's this capital pool that pays out claims. There's roughly four hundred million dollars in the capital pool. There's roughly twenty million a year of annualized premiums being paid in”

“So yes, these systems are tightly coupled to Ethereum today, but once they get substantial use and substantial capital inside them and all sorts of app developers deploying straight to them, at some point they're going to say, wow, why don't we integrate to a …”

“I just think that there's, on just the level of cost versus security, a very wide spectrum that you can't easily fit inside a single chain.”

“We're seeing production ready scaled other networks, including what are called layer two networks on top of Ethereum that are really ready for prime time. And that dramatically lowers the transaction costs and therefore opens up a lot of new design possibiliti…”

“MetaMask is probably, they control the user interface for 80% of people interacting with Ethereum.”

“We tend to think the world is going to be multi-chain. It's not going to be one chain to rule them all. And there probably is going to be some sort of power law there. So the big winner will be really big. We tend to think Bitcoin and Ethereum will be really b…”

“DeFi worked. DeFi didn't fail here. Maker is still going. Frax is still going. Ethereum is producing blocks. You can send money around using stable coins. You can still take money out of Aave. All the systems that are designed to be over collateralized and res…”

“The number of developers that are continuing to write code in Ethereum, despite prices being down 60 to 80%, it's flat. The number of full-time developers hasn't gone down. They're still writing code.”

“And so in the last 12 months, there's a ballpark of two billion dollars was paid by applications to run software on the Ethereum blockchain.”

“Came out generally skeptical of Bitcoin and really, really bullish on the longer term potential for the Ethereum network as a technology to help people transfer things of value in coming decades and beyond.”

“So Ethereum financial markets and infrastructure will be built on Ethereum. Maybe parts of it will be built on Solana too. I'm not sure.”

“More and more people are contextualizing the valuation framework for Ethereum as a capital asset, and you can think about that burn almost like a company using its free cash flow to buy back stock. The units of ETH outstanding should decline as more and more s…”