SOTS #1: Ethereum Deposit Contract and Community

Transcript

01:45 - Excitement about Ethereum/Deposit Contract Launch Announcement

i did that thing i just do you ever record the best video ever i just recorded the best video ever i can say that because i didn't save it i went to turn off the camera and found out that it wasn't recording so i'm going to give it one more shot while i'm sitting here hey i'm super fizz hank in the real world um organizer of east acre sitting about 200 yards from the interstate um i see what jeremiah nicholl does with his uh very organic fireplace chats and i think there's a great place in the community to have something similar for eaststaker [Music]

this might be the most exciting time i can imagine in ethereum in years i i think i might have been this excited when uh frontier launched maybe when i was mining on olympic i was this excited because ethereum was just brand new and i i just knew that it was it was the new hotness um and five years later it's still the new hotness and now it's the new hotness in a different way and so yesterday the deposit contract was launched and i don't i think like every on some level everyone knows what a big deal this is but i don't think they're grasping the long-term

significance of this um this is a big liquidity lockup for the next two years we're going to be locking up market liquidity from ethereum and it's going to be in a one-way smart contract that no one can touch and so many people are too stoic to even acknowledge that there's a price for ethereum and i'm just i'm not that cool there is a price rather than it matters in my life it matters when i pay my bills and um i you know the logical conclusion of this liquidity lockup is that the price of ether is going to appreciate as liquidity is locked up and as the platform continues to be

02:40 - What will happen to Ethereum with this price lockup?

successful so um i think that's that's a very positive uh indicator you know the the platform is strong we're preparing for layer one scaling um and in the midst of that there's a liquidity lock up that's likely to make the price go higher which um that's great um so i want to talk a little more about the east acre community and and why this is such a big deal for me and why i believe it it could be a big deal for you um i i was a proof of work minor just a home miner for a long time and the bummer about proof work mining is

03:45 - Proof of Work vs. Proof of Stake and community considerations

it's not there's no like community to it you're more successful as a proof of stake miner i'm sorry as a proof of work minor when your friends are offline you're more successful when the hash rate is low so um if your buddy with you know 4 000 gpus goes offline it's great for you because then you get to uh you get to take advantage of that hash rate and you know profit proof of stake is is a little bit different because the healthier and the more robust staking nodes are uh the healthier the net the network is overall and it really gives us an opportunity to build a cohesive community around that staking effort rather than being competitors

and i really want to seize that opportunity uh that's really what eastaker is we are seizing the opportunity to build a positive community around the staking experience rather than letting uh letting industry take over and do that for us you know industry will soon step in with their own staking models and they will siphon off a large portion of the users but before they do that we have this chance to to grab to solidify our place as home brew community stakers and we have a chance to really make a

04:45 - ETHStaker Community

difference in the long-term future of and that's kind of what i look for from eatstaker we are individuals we're small groups we're small companies who just want to learn more about staking on ethereum and and do that on our own to to enrich the community um and so you know i that's one of my favorite initiatives is the collaboration groups where you you pair up with four other people and you're in a private chat with five people and really just talk about your note how things are going get you get to know each other and you get to build a relationship i feel like the biggest bang for our buck in each staker comes with building those unique

05:35 - ETHStaker Collaboration Groups

personal relationships where people feel like they are part of something when they're part of staking not just that they're trying to get a buck out of it so anyway that's really all i wanted to talk about today is is my excitement for this deposit contract and my excitement east acre as an enriching community i hope you'll check it out and i hope this video worked out thanks