Ryan Sean Adams

Yeah, let's talk about it.

Yeah, durability, verifiability, censorship resistance, and carrying costs.

So what is durability?

It sounds like there's a lot in this durability category to you.

I guess in the gold context, right, part of what gold was competing against was other assets, in particular other metals.

And it was the more durable metal.

I mean, it didn't rust.

It didn't degrade over time.

It preserved its kind of shininess, I suppose.

And then it does have that track record.

I guess in the Bitcoin and Ethereum context, durability would mean something similar, that it doesn't degrade over time, that it doesn't rust, I suppose.

And gold has its security budget, I guess, set by...

you know, the elements in the periodic table, right?

I mean, it was, you know, gold was produced in a supernova explosion, you know, however many billions of years ago.

And that's its economic security.

It doesn't have to pay that cost again.

Whereas for crypto networks like a Bitcoin or Ethereum, they do have to continually pay that security budget costs.

And what you're saying is you rank Ethereum higher than Bitcoin on the durability side of things, just because it has a more sustainable,

uh economic security uh policy let's say into the future as a as a portion of its market cap as a portion of the assets on top of the chain whereas bitcoins is going to um have in every four years with ethereum it's kind of that you know 1.5 percent one to 1.5 percent every year i

I think, though, gold probably hands down does win this category versus those other two assets, both because of its longevity and also because it's already paid its economic security costs.