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šŸŽ™ļøThe ETH Merge Explained | Pod 173

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šŸŽ™ļøThe ETH Merge Explained | Pod 173

LG Doucet
and
The First Mint
Aug 15, 2022
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šŸŽ™ļøThe ETH Merge Explained | Pod 173

thefirstmint.substack.com

What’s up everybody, it’s LG Doucet here.

Listen. I am a stupid person.

And I don’t mean that in a humble way. I mean that in a literal way. I’m the kind of person who will read the manual, watch 20 youtube videos, ask a few expert friends, and STILL not be able to change the oil in my car.

I’m just not that guy.

But there’s a silver lining to this lack of intelligence; I’m aware of it, and it keeps me eternally curious in my interests and hobbies.

Enter crypto.

I still don’t really understand how it works. I couldn’t tell you the inner workings of minting an NFT. Heck, I still don’t really get why collections like Nouns are so special.

But I want to know. And a podcast where I get to line up fantastic guests is the perfect gateway for me to both learn and also make it appear that I’m smart.

And with one of the" ā€œbiggestā€ events in crypto history just 30 days away, I needed one of these pro guests to come on and explain it to me…


šŸŒ‹Today’s Pod: The ETH Merge Explained | 0xQuit

Twitter avatar for @0xQuit
quit.pcc.eth @0xQuit
The merge is coming. Are your NFTs at risk? Are your tokens? Your eth? These are all questions I've been asked, so let's talk about what the merge means for you. I also have a favor to ask of you 1/šŸ§µšŸ‘‡
1:39 PM āˆ™ Aug 12, 2022
2,787Likes1,004Retweets

Yep, that guy.

Quit is one of my favorite recent Twitter follows, and imo is one of the most diverse accounts you could follow. He’s timely. He’s smart. He’s well spoken, and he’s very enthusiastic about crypto security, while also being a dev behind the scenes. Even when he says shit I really don’t understand, I nod my head and trust him.

But more importantly, he delivered one of the best opening stories in TFM history, where he reveals how he used to sell Bitcoin to strangers on the internet by meeting up with them in person at Starbucks and at Banks.

like what?

You’ll hear in this one how I’m totally blown away by this reveal. It doesn’t get more OG than this guy!

THE MERGE

On today’s pod, Quit walks us through what exactly The Merge is, and what it will mean for ā€œminersā€ who currently power the Ethereum blockchain.

I ask him to put it into simpleton terms, so we can easily understand its complexity and potential ramafications.

I also ask him about the fork to Proof-of-Work, which is where many Ethereum miners will attempt to refuse the new merged Ethereum chain and create their own bizarro world of ETH.

Basically, some people don’t want the old ways to die, and will go as far as to basically copy+paste the current ETH chain and only use that one.

The pod.

It’s a good one, and a bit shorter than we’re used to. Also if I sound totally bagged, its because we recorded this at 7 AM on a Sunday morning. Quit is a busy man!

Featured in this one:

  • Quit passed on Bitcoin at $0.25 (03:30)

  • His Coinbase account was suspended at first (05:00)

  • He used to sell Bitcoin to people he would meet at Starbucks (06:30)

  • In fact, he’d even meet at banks! (08:00)

  • He’s been scammed before; his worst one was losing 3.5 Bitcoin! (10:30)

  • His Venmo account is banned for life due to the scam (12:15)

  • THE ETHEREUM MERGE, EXPLAINED (14:20)

  • The Merge is mainly about energy consumption (17:15)

  • How will The Merge change our NFT experience (20:00)

  • The Merge price action (21:20)

  • The potential FORKING of Ethereum (23:00)

  • All NFTs will be doubled onto this bizarro chain (24:00)

  • What is ETH Classic (26:00)

  • His NFT project: Block of Horror (28:30)

  • His new NFT sniping platform (30:30)

  • Random Story : the time we crashed the Top Shot discord (32:30)

  • Would you rather (33:30)

    Listen on Apple

    Listen on Spotify


🟢 ICYMI: The Fate of $ FLOW

Well well, if it isn’t a completely separate, but also very-contentious and highly-anticipated event right in our own backyard.

Last week, I covered the topic of the FLOW blockchain, largely to understand how much supply was out there (hint: its actually 74% circulating), but also to try and predict HOW MUCH FLOW WE ARE ALL GETTING IN THE FABLED AIRDROP.

Want the TLDR? Well lucky for you there’s even a thread about it:

Twitter avatar for @TheFirstMint
TheFirstMint @TheFirstMint
🟢 The Fate of $Flow 🟢 The token surged 40% last weekšŸš€ But what about that Dapper Wallet airdrop?šŸŖ‚ On this week's pod, we explored: 🚦The % of token in circulation šŸ“œWhat FLOW tokenomics tell us 🌊Flow's liquidity for the airdrop šŸŽÆwen airdrop Thread /1🧵
Image
10:19 PM āˆ™ Aug 9, 2022
83Likes23Retweets

And of course, there is the full episode:

Pod 172 | Apple

Pod 172 | Spotify

What the community had to say:

Twitter avatar for @hargybbear
hargybear.find @hargybbear
@TheFirstMint @flowverse_ @flow_blockchain Awesome thread mate. Unless we see a big leg down in the marcro markets I can only see bullish signals from here onwards šŸš€
9:32 AM āˆ™ Aug 10, 2022
Twitter avatar for @TSunriseP1
rko šŸ‘½šŸ…°ļø @TSunriseP1
@TheFirstMint @flowverse_ @flow_blockchain great thread and podcast this week. Personally, I would love for it not to be equal distribution among all Dapper wallets but rather distributed based off of total net spend amongst all Dapper products & at least a minimum amount for those who simply created and bought a pack
10:39 PM āˆ™ Aug 9, 2022
6Likes1Retweet
Twitter avatar for @kdun_xyz
kdun.xyz | web3-believer | human-realist šŸ™ƒ @kdun_xyz
@TheFirstMint @flowverse_ @flow_blockchain solid and objective research, love it
12:10 PM āˆ™ Aug 10, 2022

And there were still many questions about it!

Twitter avatar for @LgDoucet
LG DOUCET @LgDoucet
Biggest Q I'm seeing about the $FLOW airdropšŸ›» HOW MANY TOKENS PER WALLET No idea how this will be decided Potential factors: -Marketplace spend -Primary spend (packs) -Account creation date -Total NFTs collected -Account activity Could also be the same amount per walletšŸ¤·ā€ā™‚ļø
1:15 AM āˆ™ Aug 11, 2022
85Likes6Retweets

We even had to make a poll about the type of truck that will be used:

Twitter avatar for @TheFirstMint
TheFirstMint @TheFirstMint
That FLOW AIRDROP can’t come soon enough. Which truck is your "🚚 load" of $FLOW arriving in?
Image
2:00 PM āˆ™ Aug 13, 2022
81Likes9Retweets

The First Mint is proud to be partnered with Flowty, a peer-to-peer NFT loan and rental platform on the Flow Blockchain founded by Michael Levy (fondly known as MBL throughout the Top Shot community):

Are you an NBA Top Shot collector / investor? Did you know that you can do a LOT more with moments than just buy and sell them?

  • Need help completing a Top Shot challenge? Rent on Flowty.

  • Have extra moments for a challenge and want to generate income in a safe way? Rent out your moments on Flowty.

  • Need liquidity but don’t want to sell your moments? Use moments as collateral to take out a loan on Flowty.

  • Looking for an alternative way to invest in Top Shot? Generate passive income by lending (funding loans) on Flowty.

Flowty’s rental and loan marketplace allows renters, owners, borrowers and lenders to transact in a safe and easy way!

Want to learn more? Join the Flowty Discord and follow along on Twitter at @flowty_io.


✨Happening at The First Mint

Each week we publish a podcast about NFTs and the bigger questions of web3. Check out some of our recent faves!

šŸŽ™ļøThe Fate of FLOW

šŸŽ™ļøValue In The Bear Market | Tascha Labs

šŸŽ™ļøWhat Makes an NFT Bull Run | Mack Flavelle

šŸŽ™ļøCrypto Portfolio 101 | Scott Melker

šŸŽ™ļøThe Future of Crypto Media | Tally Labs

šŸŽ™ļø Will Sports NFTs Survive?


**This is not financial advice. Nothing in this newsletter, podcast, or publication should be considered financial or trading advice of any kind. Please do your own thorough research and make your own trading decisions. This is not advice.ā€


About The First Mint

The First Mint is a web3 media company. We make. We write. We talk. We listen.


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