David Hoffman

Yeah, I mean...

Maybe like an easy, a simple example to show the power of this is kind of like the rule of 72.

So like the rule of 72 is you divide the number 72 by your annualized return.

And that's how many years it'll take you to double, right?

So if you're earning like 2% staking your ETH right now, it'll take you 36 years for all of your ETH to double, assuming that 2% is held constant for the

36 years from now, if you have 100 ETH, you'll have 200 ETH, right?

And that's kind of like the power of compounding.

And then 36 years after that, you'll have 400 ETH, right?

Whereas if you own Bitcoin and you have 100 Bitcoin, you'll still have 100 Bitcoin in the future.

And I also think this is hugely important for debt.

Right.

So the only way Michael Saylor and strategy can kind of buy more Bitcoin is just by issuing debt.

And they basically have to hope that the price of Bitcoin goes up to deleverage over time, where whereas with Ethereum.

Because it's productive and because your money is increasing, if you have 100 ETH today and you'll have 102 ETH next year, right, your position will deleverage over time, which will kind of like allow you to pay back debt or issue more debt, which is, again, something that like Bitcoin can't really do without accepting counterparty risk, right?

Like you would have to like lend out your Bitcoin to people who want to short it or whatever.

So I think that's an underrated dynamic that I haven't really heard anybody talk about.

Yeah, so this analogy comes from, so Joseph Shalom, who's like the CEO of SharpLink, has talked about, he heard at Davos that Larry Fink was presenting Ethereum, and on one of the slides he called Ethereum the toll road to tokenization.

And what he meant by that is assets are going to be tokenized, and then people will transact, and then each of those transactions will pay a fee to tokenize.

to the Ethereum network.

And, um, part of that fee will be burned and decrease the supply.