Ryan Adams

This catches us right back up.

So it catches us back to the trend line.

So this would be a 3x, sorry, excuse me, a 7x in transactions per second and block space availability on the L1 in 12 months.

Which is pretty astounding because we went to, you remember this, we went to 30 million.

We were at 30 million for like four years.

And then just last year, we went from 30 to 45 to 60.

And now we go from 60 to 200.

And that results in something close to 80 to 100 transactions per second.

So...

L1 is actually scaling, like they're actually doing it.

I think this means that we're not going to see any L1 fees anytime soon.

You only get fees on a blockchain if there's block space contention, if demand exceeds supply.

And if you are creating more supply...

and supply exceeds demand, you don't get fees.

And so, you know, like, if your bull case on Ether is just about fees, then you also have to not care about scaling, right?

Anyway, this is why for decentralized blockchains, my thesis on like how they accrue value is all about store of value.

It's all about money.

Bitcoin's always been right.

Ether is a store of value.

My opinion is always right.