Welcome to BitBoy Crypto!
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My name is Ben.
I come to you live most days.
I'm going to be gone for the next two weeks.
Actually, we've got a couple videos for you guys while I'm gone.
But this is the last piece of content that I'm making.
You may be asking, "Why are you making this in a gym at La Quinta in Fairbanks, Alaska?"
Well, I'm making this video because I want to give you guys one last video before I went out,
and the gym has the best lighting.
Look at this lighting. Look how great it is.
And yes, I did just work out.
I'm very tired.
But,
look, you know, if you get tired in crypto, you've got to push on.
Also, guys, before we get into the content,
we're going to be talking about
the biggest event in crypto history.
You're definitely going to want to watch this video.
I do want to mention
I put the link down below in the description for my book "Catching Up to Crypto."
Pre-orders are hot now.
We're actually--
in new releases,
we're No. 1 in finance right now.
We haven't even really promoted the book.
So make sure your friends or family,
if they're interested in crypto,
or if you're newer to crypto,
sometimes you're watching videos, you're like, "I don't understand what he's talking about,"
this is going to be the book that's going to catch you up to crypto
so you understand basically the basics of everything in crypto,
where things are going in the future,
a lot of exciting stuff.
So make sure to check out that link down below.
Now, I want to talk about the most important event in crypto history.
Let's talk about some of the most important events.
Certainly, SEC-Ripple case is a big event.
When that ends, that's going to be one of the biggest events ever.
Obviously.
The creation of Bitcoin was definitely the largest event in the history of crypto.
The first transaction,
the 10,000 Bitcoin for a pizza or for two Papa John's pepperoni pizzas,
you know, currently worth a lot of money.
I guess, what is that?
$200 million?
Whatever it is, it's a lot of money for those pizzas.
That was an important event.
If you look at some negative events, you look at Mt. Gox, obviously.
Still doing repercussions for that.
You look at Silk Road.
But we're talking about the biggest events.
Now, you could argue the SEC saying that--
or William Hinman saying Bitcoin and Ethereum are not securities is a big event,
but what did that really do?
It really just kept things the same.
It kept the status quo of the industry.
Outside of the creation of Bitcoin,
I want to make an argument tonight
that--
well, I mean, you're going to be watching during the daytime probably.
It's night here in Alaska.
I want to make the argument that this is the largest event in crypto history.
The most important.
This will change more things in crypto than anything outside of the creation of Bitcoin itself.
The Ethereum Merge.
Now, the date has been moved up, guys.
It looks like it's going to be on September 13.
You guys know,
I'm going to be moose-grizzly-bear-combo hunting here in Alaska.
So we're heading out to the wilderness tomorrow.
We're heading from Fairbanks to Circle,
and then we're going to be flying to basically the Canada border.
So I'll be gone for two weeks.
I won't--
I'm going to be doing some videos and vlogs while I'm gone for content when I get back,
but, you know, we're not going to be showing the anim--
we're not going to be showing the trophies
because I know a lot of people don't like that.
So, if you're against hunting, that's on you, whatever.
But when Joe Rogan invites me on his podcast,
that's when I'll show the pictures.
After we get the bear and the moose, so.
The point is I'm going to be gone when this Ethereum Merge happens.
How ironic, right?
I've been talking about this Ethereum Merge being so big,
being the sp--
you know, spring on the flippening,
where Ethereum is going to pass Bitcoin at some point.
It's making me sweat just walking around talking about it.
It's going to be absolutely huge, and I'm going to be gone.
I'm not going to be here when this happens.
So a little upset about that.
I won't have internet access, so.
I hope it goes off without a hitch.
And I think that it will.
They've got a lot-- enough testnets.
But I want to talk about why this is so big,
why this is going to push Ethereum ahead of Bitcoin.
Now, please--
this is not going to happen this year.
Ethereum's not going to pass Bitcoin this year.
Ethereum is not setting all-time highs.
I don't believe in the idea that this is "buy the rumor, sell the news."
There's certainly might be some selling on the day.
But if you look at EIP-1559,
which,
also important to this conversation,
implemented the burning mechanism,
you know, what you actually see is that that was not "buy the rumor, sell the news."
Why?
What was a fundamental change to the chain?
Look at that No. 33 guy.
He looks sexy back there.
Oh, it's me.
But the idea is,
this is a fundamental event to the chain.
This is going to change the tokenomics for Ethereum forever.
Okay, so let's break down what this is going to do.
The change from proof-of-work to proof-of-stake--
which Vitalik Buterin also has a book on proof-of-stake coming out in September.
You guys might want to read if you're super nerdy and you care about stuff like that.
I think it's probably over most people crypto's head, but whatever.
The idea is that when it comes to the inflations--
or the inflation,
it's going to change the inflation of Ethereum 95%.
It's going to drop 95%.
What does that mean?
That means now,
over the next 20 years,
we're going to get the same amount of Ethereum brought into the supply
that we were getting every single year.
Okay? It was about 4.2%.
The inflation rate now--
Golly.
So sweaty.
I'm here making this video for you guys.
That's how much I love you.
The idea is that it's dropping inflation 95%.
Some people say it's going to go down as low as 0.1%.
Compared to 4.2%.
Somewhere between 0.1% and 0.2%.
Absolutely insane.
What is the biggest driver of Bitcoin over Ethereum?
Well, the Bitcoin people will tell you, "It's proof-of-work over proof-of-stake!"
I don't care about that.
That means nothing to me.
There's a lit--
there's a little more security with proof-of-work, I'll give it to you,
but with a network like Ethereum, it's an incidental difference, okay?
It's incremental. It's not that big.
The Ethereum network's huge also.
Not as big as Bitcoin, but it's also huge. Okay?
But the rallying cry from the Bitcoin maxis have been
"21 million total supply!"
And that creates great tokenomics.
Great tokenomics!
But now,
Bitcoin is still inflationary.
We still have block rewards coming in every day for the next 118 years.
More supply coming in.
Ethereum, now, you're going to have 0.1% inflation.
I don't know how that number breaks down to Bitcoin.
That actually would be a good idea for a video.
But what I want to say is this.
Because EIP-1559 took place last year,
it's burning a percent of those new coins being brought into the supply.
This actually, by many experts, means that Ethereum is now going to be deflationary.
Every year, we're going to have less Ethereum.
Apply simple supply and demand. What does that mean?
That means when there's less Ethereum,
the remaining Ethereum,
it's worth the same as the total sum of the whole.
So, what does that mean?
Your Ethereum will be more valuable
just because more Ethereum are getting burned than created in the supply every single year.
Bitcoin, inflationary.
Ethereum, now deflationary.
And when you look at the supply,
and you say,
"Okay, well, Bitcoin has the lower supply,"
well, that's true, but I told you many times
that the potential of Ethereum is much higher.
It's a new layer to the internet.
The internet is bigger than finance.
Finance has a home on the internet.
It's a greater collective.
Web3 is Ethereum, guys.
Now, certainly, Cardano will play a role in that.
Polkadot will play a role.
Certainly, there are things that will play a role.
Solana
But the fact is,
this is gigantic for Ethereum.
What does this also do?
This means watch Optimism.
Watch Arbitrum.
Watch Cartesi.
Watch MATIC.
Watch these layer 2 solutions that will make Ethereum faster
on top of now having superior tokenomics to Bitcoin.
When you break this down,
this is the event that changes everything in crypto.
I believe that.
I'm going to be gone when it happens.
We'll be covering it on the show.
They're going to--
Deezy and Frank and, you know, all those guys,
they're going to be doing the livestream while I'm gone.
We got plenty of other content for you guys.
But if the bear eats me,
all I want you guys to make sure of
is that on my gravestone,
it says RIP
BitBoy Crypto
a crypto YouTuber
that was killed by a bear
in the bear market.
And then in quotations, I want it to say,
"How cliché."
That's all I got. Be blessed.
See you all.
BitBoy out.