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Lyn Alden, CEO and founder of Lyn Alden Investment Strategies, and Raoul Pal, CEO & cofounder\xa0 of Real Vision Group & Global Macro Investor, explain their thinking about Ethereum and its native token, and talk about their perspective on GameStop. In this episode, we discuss:\n why Raoul views ether as similar to bitcoin at a macro level (1:25)\n why Lyn decided ETH was not currently investable (5:06)\n an analysis of utility protocols (John Pfeffer\u2019s paper) (6:55)\n counterarguments to John Pfeffer\u2019s paper (9:31)\n how to allocate between BTC and ETH (11:22)\n why Raoul also invested in other coins beyond BTC and ETH (11:47)\xa0\n whether Metcalfe's law applies equally to all kinds of networks (13:35)\n why Lyn views Ethereum\u2019s use case as circular, and why that makes it less investable (15:09)\n whether Ethereum 2.0 and Ethereum Improvement Proposal 1559, and whether that could make ETH more investable (21:20)\n the impact of fees on the value of Ethereum (23:36)\n Raoul's views on what S-Curves and the Lindy Effect indicate about the development of a currency (25:22)\n how high fees make DApps less attractive, while low fees potentially decrease demand for ETH (27:06)\n how Lyn believes demand for DeFi is to circumvent compliance and know-your-customer processes, and she doesn't also see that as a downside for Bitcoin (33:10)\n how the regulators are behind innovation in cryptocurrencies, particularly around taxation (36:32)\n Raoul's and Lyn's predictions for the ETH price by end of 2021 (41:45)\n what GameStop says about the democratization of financial information (45:32)\n whether smart contracts could play in preventing situations similar to what happened with GameStop and/or Robinhood (49:03)\n how blockchain technology could be used to prevent a situation in which the hedge funds could short more shares than existed (54:03)\n how the GameStop/Robinhood saga is a giant advertisement for self-custody (54:53)\n whether r/WallStreetBets' behavior was market manipulation or not (56:53)\n \xa0\n Thank you to our sponsor!\xa0\n Crypto.com: http://crypto.com\n \xa0\n Episode links:\xa0\n Lyn Alden: https://twitter.com/LynAldenContact\n Lyn Alden Investment: https://www.lynalden.com/\n \xa0\n Raoul Pal: https://twitter.com/RaoulGMI\n Real Vision: https://www.realvision.com/contributor/raoul-pal\n Global Macro Investor: https://www.globalmacroinvestor.com\n \xa0\n Raoul's tweet storm on Ethereum: https://twitter.com/RaoulGMI/status/1347013567799848961?s=20\n Lyn Alden\u2019s research paper on Ethereum: https://www.lynalden.com/ethereum-analysis/\n Raoul Pal\u2019s tweet: ETH equals BTC: https://twitter.com/raoulgmi/status/1347013567799848961?lang=en\n John Pfeffer\u2019s paper: https://s3.eu-west-2.amazonaws.com/john-pfeffer/An+Investor's+Take+on+Cryptoassets+v6.pdf\n Network effects and Metcalfe\u2019s Law: https://saylordotorg.github.io/text_developing-new-products-and-services/s04-12-there-is-power-in-numbers-netw.html\n Quantity Theory of Money: https://saylordotorg.github.io/text_economics-theory-through-applications/s30-01-the-quantity-theory-of-money.html\n How Will the Government React to GameStop?: https://www.coindesk.com/gamestop-regulators-response\n GameStop and Crypto trading: https://cryptonews.com/exclusives/are-gamestop-style-surges-in-crypto-any-different-from-old-p-9151.htm\n Robinhood Raises Extra funds: https://www.theblockcrypto.com/linked/93258/report-robinhood-billions-raised-investors-1\n Possible role of blockchain in trading: https://cointelegraph.com/news/cardano-foundation-ceo-says-blockchain-could-prevent-gme-type-showdowns\n Caitlin Long: https://www.forbes.com/sites/caitlinlong/2019/05/16/naked-shorting-in-the-uber-ipo-it-couldnt-happen-on-a-blockchain/?sh=f2a0dcd4737d\nLearn more about your ad choices. Visit megaphone.fm/adchoices