The feedback on our newsletters (not just from my mum), is that the content flits from macro to micro. This week we mix the two.
A validator that turned on at Genesis has earned around 0.87 ETH. 1 Ethereum a long, long time ago (eg. December 1st 2020 when ETH 2.0 went live) cost $527, today it costs $1700 approximately. Launchnodes and our customers have had a great few months and as a team, emotionally it feels great to sell a product that makes your customers so much better off. If the medium of communication is Twitter, this is the bit where we insert Lambo GIFs and start talking shit about ETH going to $5000 before the end of Q1.
Participation is Vital
I have always been predisposed to a more sober view on the price of Ethereum, because as the first economically incentivised network operating at scale, participation is vital. This is not the usual rant re. individual stakers being able to stake direct. This is more about the treasury and finance functions and the general grown ups of existing big businesses and governments that have massive potential for being involved in Ethereum 2.0 being scared away by wild price volatility in the network’s currency. This is compounded by my fear that as more ETH gets staked, supply shrinks and the price goes ga ga. I don’t know if that is a negative or positive feedback loop?
Would love to know your thoughts
This is a time of unprecedented change, Ethereum is powerful in this change cycle, but something that goes up by 300% in 4 months does not give us the stability that helps credibility. Middle age may have ruined me, my 23 year old self perhaps would have deleted the last paragraph, inserted the lambo GIF and suggested the grown ups go f&*k themselves. I don’t rule out the precocious wisdom of 23 year old Jaydeep, but he had all the answers, I mainly have questions. Can Ethereum be all it needs to be and what we want it to be, if ETH is at $5000? Would love to know your thoughts to that question.
It Could Become Everything
Back to the micro. Launchnodes are building a new product, to allow lots of small holders of ETH to build a contract and run a node directly. We are engaged with organisations globally to help shape their forays into the world of Ethereum and blockchains. We are a bit sad you now have to be rich to run a single validator node, but negativity helps nobody. Many of you are making loads of money investing and staking ETH today, in the long run it’s not simply the future – but like the Internet, it could become everything.
Back to the seesaw for me.