# ETH Is NOT Ultrasound Money with Jon Charbonneau

*Author: Ryan Sean Adams, David Hoffman*
*Published: Feb 22, 2023*
*Source: https://www.bankless.com/fr/eth-is-not-ultrasound-money-with-jon-charbonneau*

---

Is ETH doomed? Was Ultrasound money a myth? Tune in to hear Jon's arguments.

---

#### TIMESTAMPS
0:00 Intro

5:06 Jon's Argument

11:30 Triple Point Asset Thesis

17:52 ETH

18:53 The Disagreement

22:10 Semantics 

26:40 Profit 

30:00 PoW vs. PoS

33:15 Does Issuance Matter? & L1s & L2s

37:57 Blockchain Sustainability 

42:00 Deflation vs. Inflation Value

47:50 How is Jon's Argument Bullish?

51:35 Alt L1s Issuance

59:20 Jon's Model Spreadsheet

1:17:53 Closing & Disclaimers

---

#### RESOURCES
- Jon Charbonneau 
[https://twitter.com/jon_charb](https://twitter.com/jon_charb)
- Jon's Essay 
[https://joncharbonneau.substack.com/p/eth-is-not-ultrasound-money-part](https://joncharbonneau.substack.com/p/eth-is-not-ultrasound-money-part)
- Jon's Model Spreadsheet 
[https://docs.google.com/spreadsheets/d/1UlxKC98STwN-AoonytC-qOscZ_99fAMpMvB6EfGGe9E/edit#gid=0](https://docs.google.com/spreadsheets/d/1UlxKC98STwN-AoonytC-qOscZ_99fAMpMvB6EfGGe9E/edit#gid=0)