David Hoffman

And then I view like price or trends in price as kind of like the spread of an idea, right?

So as a idea that like ETH is worth should capture the monetary premium of Bitcoin and gold spreads to more people.

I think you'll see the price reflect that.

And it kind of makes sense because if you talk to 10 people on the street, probably zero would be able to tell you about the monetary properties of ETH.

Maybe like one or two would be able to tell you about digital gold, right?

So it's infinitely more.

So I think as this idea spreads to more and more people and people start to call it productive money, I think people underestimate the value of these memes and ideas.

I think you'll see...

the markets start to price it.

And just to quickly add to that point of just like a more tangible example of it was actually your original kind of ultrasound money podcast with Justin Drake that kind of convinced me because I was like a pretty strong Bitcoiner at the time and I didn't own any ETH.

And I listened to it because I like to hear like different arguments or views that oppose my own.

And I was listening to that and

I was like, actually, that's a really good point.

I have no idea how Bitcoin is going to solve the declining security budget, right?

Like there's really two options.

It's like you add tail issuance where you remove the 21 million hard cap or you move to proof of stake.

And in that scenario, you kind of just sacrifice your number one advantage to Ethereum being that you don't change, right?

So once you change it, you might as well just add smart contracts too.

Right.

Which was Satoshi's actual original vision.