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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Sep 13, 2022

Kevin Zhou, co-founder of Galois Capital, and Evgeny Gaevoy, founder and CEO of Wintermute, discuss how to trade the Ethereum Proof of Work fork, what the market is telling about the Merge, and whether the Merge affects Bitcoin. 


Show highlights:

  • what will happen at the time of the Merge according to Kevin and whether there’s uncertainty
  • when the ETH Proof of Work chain will emerge and how that affects trading opportunities
  • the mistakes of the ETHPoW team, like repealing EIP-1559
  • what percentage of ETH market cap ETHPoW will accrue
  • what the first few blocks of ETHPoW will be like
  • what the strategies are to earn the ETHPoW airdrop and what the on-chain activity looks like
  • whether there is an “up-only” monoculture in Ethereum
  • what stETH is, how it should be priced and what the futures market indicates
  • where the value of a chain comes from and the likelihood of ETHPoW failing catastrophically
  • how to protect from replay attacks
  • the price action of ETH after the Merge
  • how ETH becoming deflationary affects Bitcoin’s narrative as digital gold
  • how the ESG-friendly image of Proof of Stake could affect the narratives of ETH and BTC


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Episode Links


Previous Coverage of Unchained on the Merge:

ETH Proof of Work:


ETH Trade


ETH Post-Merge Dynamics: