“We Are Ready for a New System“ – Ethereum Co-Founder / Our Mate Greg

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You recognize the 4 phases of the crypto bull run that we lined final week?

Yeah, effectively — that is peak stage two commentary. Ethereum co-founder Joe Lubin gave his two cents on the trade at ETH Denver this previous weekend, saying:

“I believe the momentum is selecting up, and it is unstoppable…

We’re prepared for a brand new system of the world.”

Which — okay, after all he’s going to say that — he’s a crypto founder, at a crypto convention, in the course of a bull run.

However this previous weekend, we had a dialog with our buddy Greg about essentially the most mundane topic, and (if we weren’t already) this dialog effectively and really bought us on crypto creating ‘a brand new system’ for the world.

The topic of the dialog was cash transfers…

And it went one thing like this:

[For context, Greg’s Australian]

“Yeah, so I’ve determined I’m going all in on crypto (Bitcoin, Ethereum, and Solana). I’ve $60k in shares, and $12k in Dogecoin (of all issues).

So I seize my Ledger, open the app on my cellphone and convert my Doge evenly in BTC/ETH/SOL (it takes all of two minutes).

Subsequent, I open my brokerage app and liquidate my shares. The cash exhibits in my brokerage account, however I can’t withdraw it (it takes two days to ‘clear’).

So I wait two days, withdraw my funds, and ship them to the alternate.

Instantly after I hit ‘affirm’ on the transaction — I’m locked out of my account and get a message from my financial institution telling me to name their fraud hotline.

Lengthy story quick mate, it’s taken me 7 straight days, 16 cellphone calls, 4 separate legal responsibility wavers signed, and I reckon 6+ hours on the cellphone yarning with the customer support departments of two totally different banks.

(I needed to begin a brand new account with a ‘crypto pleasant’ financial institution to maneuver the funds trigger friggin’ Commbank doesn’t let its prospects transfer greater than $10k to crypto exchanges monthly — the canines).

Within the time it’s taken me to maneuver that money, Bitcoin has moved 21%, ETH is up 13% and Solana’s up a stable 25%.

I did the maths and it’s an excellent $17k of value appreciation that these bastards have ‘protected’ me from.”

Cash transfers aren’t the sexiest ‘killer use case’ — however our chat with Greg made it clear:

We’re prepared for a “new system” of banking.