Lyn Alden, CEO and founder of Lyn Alden Investment Strategies, and Raoul Pal, CEO & cofounder of Real Vision Group & Global Macro Investor, explain their thinking about Ethereum and its native token, and talk about their perspective on GameStop. In this episode, we discuss:

why Raoul views ether as similar to bitcoin at a macro level (1:25)
why Lyn decided ETH was not currently investable (5:06)
an analysis of utility protocols (John Pfeffer’s paper) (6:55)
counterarguments to John Pfeffer’s paper (9:31)
how to allocate between BTC and ETH (11:22)
why Raoul also invested in other coins beyond BTC and ETH (11:47)
whether Metcalfe's law applies equally to all kinds of networks (13:35)
why Lyn views Ethereum’s use case as circular, and why that makes it less investable (15:09)
whether Ethereum 2.0 and Ethereum Improvement Proposal 1559, and whether that could make ETH more investable (21:20)
the impact of fees on the value of Ethereum (23:36)
Raoul's views on what S-Curves and the Lindy Effect indicate about the development of a currency (25:22)
how high fees make DApps less attractive, while low fees potentially decrease demand for ETH (27:06)
how Lyn believes demand for DeFi is to circumvent compliance and know-your-customer processes, and she doesn't also see that as a downside for Bitcoin (33:10)
how the regulators are behind innovation in cryptocurrencies, particularly around taxation (36:32)
Raoul's and Lyn's predictions for the ETH price by end of 2021 (41:45)
what GameStop says about the democratization of financial information (45:32)
whether smart contracts could play in preventing situations similar to what happened with GameStop and/or Robinhood (49:03)
how blockchain technology could be used to prevent a situation in which the hedge funds could short more shares than existed (54:03)
how the GameStop/Robinhood saga is a giant advertisement for self-custody (54:53)
whether r/WallStreetBets' behavior was market manipulation or not (56:53)