# Is the Merge Priced In?

*Author: Ryan Sean Adams*
*Published: Aug 17, 2022*
*Source: https://www.bankless.com/es/is-the-merge-priced-in-639070caed39286b12323248*

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**Ryan Berckmans** and **Hal Press** have a mutually bullish debate. They're both bullish ETH, but differ on how it's going to play out.

This is our favorite kind of debate.

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### TIMESTAMPS
0:00 Intro

7:00 Hal & Ryan Thesis

18:28 The Merge is Happening

23:30 A Crowded Trade

29:23 Risks and Catalysts

36:10 Structural Significance

41:40 Blockspace Demand

46:40 Real vs Nominal Return

50:30 Miners vs Validators

56:00 Proof of Stake Wins

59:00 Store of Value

1:09:45 The Flippening

1:18:00 Price Predictions

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### RESOURCES
Hal Press 

https://twitter.com/NorthRockLP

Ryan Berckmans

https://twitter.com/ryanberckmans