Restaking Summer & What it Means For Ethereum

Hey Bankless Nation, welcome to uh Bankless Takes. This is where David and I just um talk about maybe links we saw, articles we read, stuff, just whatever's top of mind.

We read you tweets.

Yeah, it's a free form episode. Uh today, David, I think maybe the theme is uh wisdom in general, maybe like uh some investing wisdom, but also just like life wisdom. That sounds uh a little deep for a bankless podcast, but you know, we we we get deep on here.

Deep before. Yeah.

Yeah, so there was a great um Twitter thread that we'll get into investing wisdom from Chris Berninski. So we gotta talk about that. What else we got?

Vitalik wrote an article on his blog titled The End of My Childhood, which the title's already deep. Uh Vitalik turned 30 years old. Happy birthday, belated birthday, Vitalik, and he wrote a reflective article that touched on many different things, not even one thing in particular. So we'll unpack that a little bit in our favorite parts.

I I I want to hear your your your take on it because you uh recently turned 30, didn't you? It's like 31 Vitalik? 31. Okay, 31. Okay.

Vitalik.

You got a year on Vitalik still, but like uh

$250 billion network on me, though. So

he's done some things. Also, uh, want to talk about restaking summer in particular. What's the price impact to Ether, Ether the asset? Uh so that's what's on slate for today. David, um, I think wisdom is a good place to start. I'm feeling reflective. So crazy story. I know um we're a little late to record this, but this morning uh there was a uh really bad car accident on my street.

And uh

You sent me a picture. I got a message from Ryan. I've gotten messages like this from Ryan before, where like I actually don't know how to gauge the severity of it.

Um, you sent me a message one time, and it was like something bad just happened. It's like serious.

And I'm like, and then you go off and deal with unsaid things. Sorry. And I'm just like, what do you think I did

that?

Then you come come then you come back.

remember what it was?

Uh yeah, well, you didn't tell me what the nature of it was. And I thought, and like when you went when you finally come back online, like three hours later.

Uh like I was like, uh, wife, kids, how are they doing? And you're and you're like, oh, nothing like that. Like, I got a letter from the SEC about like an old baking project that I have. That's also bad, but holy hell, please specify. Yeah. So Ryan said is like uh like uh my friend was in a car accident, like I gotta go help. I'm like, uh oh. And then I get a picture

Yeah.

of an upside down car

on a reference, calm looking street.

It was crazy. And and the reason I can laugh about this is uh he's totally fine, but this was like um uh a carpool that you know stops by my house every morning. I actually Did though. Um there was like uh ambulance and firetruck and all of this. It was just outside my house at the end of my street.

I honestly I thought it was uh one of my kids for a minute. It was like a carpool full of kids.

And so

I, you know, like I didn't get into that detail. So I rushed out of the house and didn't know for a few minutes. Anyway, I'm in a reflective mood because, like,

man, life happens so fast. This is just like going to this episode if we're talking about wisdom. Just like go give somebody a hug that you love. Go call your mom. Like, get her on the phone because you never know.

Like,

just shit happens in life and you can't predict it.

And it's like outside of all of your your framework for analyzing the future. Things that you didn't anticipate happen can happen in an instant. Oh, so that's the that's the mood I'm in this morning.

Yeah. You remember um, I know you know this, um uh Wait But Why from Tim Urban.

Yeah.

He just like he says, like, hey, you have a limited amount of time left. How many books are you reading a year? Like two books a year, three books a year? Yeah. How many years you got left? All right, you got like 40 years left. All right, you got 120 books you're gonna read in the rest of your life.

And then you're reading a shitty book. Maybe you should put that one down, right?

Uh and then it goes into like, all right, how many times do you see your parents a year? Like

three times a year?

Four times a year? All right, how many years you got left?

It's something

People don't like it when I bring this up, but.

well no, it's it's de it. I I guess we're breaking or we're talking about it all this morning. Honestly.

This is not in the agenda.

He also says something to the effect of like, um, if you have kids.

Uh the time from you know zero to eighteen, you will have spent like something like 97% of all of your time with your kids during those years. And so after they're 18, after they're out of the house, you only have like 3% left.

Yeah. But that two percent that three percent is extra quality though, because like a decent amount of the time in the 97%, you were like clean and poop out of their diapers, right?

True.

You can trade that for like deep conversations that happened in the last like 3%.

Absolutely. I I know you've uh you've spent some good quality time with your mom recently, uh too. It's like

Yeah.

Yeah.

you know

Right? Yeah. Yeah. Mm-hmm.

none of this is in the agenda.

Had never seen that corner of the world. And like none of her friends, or whoever she's talking about, like, hey, let's go traveling with my friends. They're like, you're up.

Never did she would ever imagine herself like walking on a glacier in like this the very far south. That's

Cool, man. Like you just ha having like a trip with your mom into adulthood, right? So there is quality time that that can be spent, and uh yeah, that's uh that's really cool that you get to do that. Anyway, the theme is investing lessons.

your job, Ryan, is to transition this conversation into the Chris Berniski thread that we're about to pull up.

Okay. Uh, Chris has some wisdom for us as well. I don't know if it's life advice or investing advice, but uh I think it applies to both. This is the first tweet. And Chris is probably Chris Berninsky, uh, is probably one of the people I go to most often when it comes to like fundamentals wisdom type of like like a Charlie Munger type thing, but for crypto. Or imagine if Charlie didn't hate crypto. I yeah, rest in peace, uh Charlie. And Warren Buffett, it's these types of takes. He also got me uh uh crypto assets, which is one of the first books I read in going down the crypto rabbit hole. Chris Banitsky wrote it. Anyway, he starts off this tweet thread like this.

You are responsible for every investing decision you make.

I'm gonna repeat that. You are responsible for every investing decision you make.