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Today’s episode is about exploring the frontier of tokens on Bitcoin with guest Casey Rodarmor. Casey is the creator of the Ordinals Protocol, a harmless protocol that simply allowed for arbitrary data to be inscribed into individual Bitcoin UTXOs, creating what are called Bitcoin NFTs. He is now also the creators of Runes, a second protocol, working to bring fungible tokens to Bitcoin. 
Bitcoin is changing and Casey appears to be one of main reasons for the change. Soon he’ll be unveiling a new protocol standard for Bitcoin - called Runes, which wants to be a bitcoin-native version of fungible tokens, on the Bitcoin L1 - which is going to be the topic of the show today.
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TIMESTAMPS
0:00 Intro
5:00 The Guy Who Changed Bitcoin
10:21 Why Casey’s Building
16:45 Ordinals Cultural Shift
22:43 Runes
31:40 The Ord Standard 
45:27 Bitcoin Blocks & Blockspace Limit
57:47 Bitcoin Innovation Implications 
1:02:41 Rune Parameters
1:11:20 The First Runes (Uncommon Goods) 
1:14:34 Timeline on Runes & Trading Ecosystem
1:17:12 The Future of Runes/Ordinals
1:19:48 The Bitcoin Renaissance 
1:21:34 Winning Over Bitcoin Maximalists
1:23:45 Casey’s Podcast    
1:24:58 Runes Team
1:26:37 Closing & Disclaimers 
 
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RESOURCES
Casey’s 1st Bankless Episode 
https://youtu.be/ktL77zEWcEc 
Casey’s Twitter
https://twitter.com/rodarmor  
Casey’s Hellmoney Podcast 
https://www.youtube.com/channel/UCflejnUswWof6yEMk9dRzOA 
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Welcome back to Bankless Takes! On the show today we walk through David’s recent article on the unified architecture theory for Ethereum. 
Where does Ethereum stand in a world of many chains? How does ethereum compare to Bitcoin, Solana, Celestia, and many others are fighting for users in the space. The comparisons and top competitors might surprise you.
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TIMESTAMPS
00:00 Start
02:08 Reason For This Article
06:32 Bitcoin Block Size Wars
17:51 Modern Day Big vs Small Blockers
22:06 Sophisticated Vs Primitive Blocks
33:19 Functionality Escape Velocity
37:17 The Root Of Trust
45:57 Cosmos, The Lost Tribe
56:02 Sovereignty Escape Velocity
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RESOURCES
Davids Article:
https://www.bankless.com/the-unified-architecture-of-ethereum 
Vitalik Article:
https://vitalik.eth.limo/general/2019/12/26/mvb.html?ref=bankless.ghost.io 
Ryans Tweet:
https://twitter.com/RyanSAdams/status/1778865602121060863 
L2 Beat:
https://l2beat.com/scaling/risk 
Cosmos Tweet:
https://twitter.com/hxrts/status/1774504453682405467 

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Not financial or tax advice. See our investment disclosures here:
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In today's episode, David delves into the interesting dynamics between Ethereum and Celestia. While Ethereum and Solana are often seen as the main rivals, Celestia shares similar design philosophies and goals but with notable differences. Is it Ethereum's true competitor? Joining us to help answer that question and much more is Nick White, COO of Celestia Labs.
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TIMESTAMPS
0:00 Intro
5:28 Celestia 2 Years Ago
6:30 Build Whatever & DA
11:29 Celestia Design Architecture
19:15 Ethereum vs. Celestia
22:26 Celestia No Virtual Machine Trade-Offs 
29:57 Sharing DA Layers & Blockchain Interoperability
37:23 Celestia Trustlessness
42:09 DA as a Commodity? 
54:09 Network Effects of DA
57:35 $TIA’s Role in Celestia Ecosystem
1:01:50 Lightnodes 
1:04:57 $TIA’s Moneyness
1:10:20 Execution & Settlement Layers
1:16:46 Cosmos & Celestia & Ethereum
1:21:56 Sovereign Endgame 
1:26:42 Closing & Disclaimers
 
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RESOURCES
Nick’s 1st Bankless Episode 
https://youtu.be/bmSU3cZhe3U  
Nick White
https://twitter.com/nickwh8te  
Celestia
https://twitter.com/CelestiaOrg  
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Not financial or tax advice. See our investment disclosures here:
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✨ DEBRIEF | Ryan & David unpacking the episode:
https://www.bankless.com/debrief-the-raoul-pal-interview 
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Bankless Nation, we’re having none-other than Raoul Pal, a frequent guest on this show, who needs no introduction.
Expect to understand debasement, how to navigate the different crypto seasons, and Raoul’s secular thesis. Besides his key learnings, Raoul also gives a peak into his portfolio and shares some hot takes on the current state of AI.
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TIMESTAMPS
0:00 Intro
6:35 SEC Suing Uniswap?
9:57 US Regulation Handbrakes
19:48 State of the Bull Market
29:45 Navigating Interest Rates
35:40 Understanding Debasement
47:25 Crypto Adoption
57:11 Crypto Summer
1:03:12 The L1 Race
1:07:17 The Role of ETFs
1:13:37 The Next Winter
1:17:52 Crypto Skeptics
1:22:15 The Secular Thesis
1:26:20 Raoul’s Portfolio
1:30:47 Real Vision
1:33:01 The State of AI
1:36:31 Closing & Disclaimers
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RESOURCES
Raoul Pal
https://twitter.com/RaoulGMI  
Real Vision Festival of Learning
https://www.realvision.com/festival-of-learning 
Raoul Pal The Journey Man
https://www.youtube.com/@RaoulPalTJM 
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets.
See our investment disclosures here:
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Crypto's OG darling exchange, Uniswap is under attack after it received an enforcement notice on Wednesday, April 10th, 2024 from none other than Gensler's anti-crypto SEC.
Uniswap’s CEO Hayden Adams joins us on the podcast to share what happened, how they plan to fight, and what the industry can do to support. 
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TIMESTAMPS 
0:00 Intro
3:15 Uniswap’s SEC Wells Notice 
5:02 Comms Between SEC & Uniswap
7:23 Is $UNI a Security? 
11:12 Supreme Court 
13:13 Consequences of U.S. Crypto Entrepreneurs 
22:01 Uniswap Labs vs. Uniswap Protocol 
31:35 How Far Will the SEC Go? 
33:55 Why Uniswap Is Important
39:08 Who Protects Investors More? 
42:25 Are Hayden & Uniswap Ready? 
43:16 Will Crypto Win? 
43:29 How to Support
45:08 Closing & Disclaimers
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RESOURCES
Hayden Adams
https://twitter.com/haydenzadams 
Uniswap
https://twitter.com/Uniswap  
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠ 

Bankless Friday Weekly Rollup
2nd Week of April, 2024 
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🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS
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🏠 CASA | SECURE YOUR GENERATIONAL WEALTH
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🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo   
🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku   

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TIMESTAMPS & RESOURCES
0:00 Intro
5:50 MARKET
https://www.coindesk.com/markets/2024/04/11/grayscale-bitcoin-etf-sees-record-lowest-daily-outflow-of-18m 
https://cryptohayes.substack.com/p/heatwave 
https://www.growthepie.xyz/fundamentals/daily-active-addresses 
13:40 Revenue from Base at $40million
https://twitter.com/davidomaraX/status/1777998689874628885 
15:00 4 weeks later, EIP-4844 is still a game-changer 
https://twitter.com/liamihorne/status/1777689828848525607 
16:20 Movers of the Week 
https://www.bankless.com/toncoins-epic-rise 
21:30 Bitcoin Ordinals taking top 10 NFT positions 
https://twitter.com/ercwl/status/1777550883082875095 
https://imgur.com/UnLO0F2 
22:40 Inflation hotter than expected in march - 3.8% up from 3.2% in Feb
https://www.nytimes.com/2024/04/10/business/cpi-inflation-fed.html 
25:30 Gloomy news from ETH ETF frontier
https://twitter.com/NateGeraci/status/1777386609760936183 
https://twitter.com/NateGeraci/status/1777768937943445568 
https://polymarket.com/event/ethereum-spot-etf-approved-by?tid=171284490744 
https://twitter.com/dunleavy89/status/1777751802118631594 
https://twitter.com/jconorgrogan/status/1777016899567604095 
34:04 Uniswap received an enforcement notice from the SEC
https://x.com/Uniswap/status/1778127813138071904 
https://twitter.com/haydenzadams/status/1778126466984575166 
https://x.com/Uniswap/status/1778127815642075219 
https://twitter.com/lex_node/status/1778167441903722768 
https://twitter.com/ammori/status/1778128325996675577 
https://x.com/iampaulgrewal/status/1778149863072670169 
https://x.com/iampaulgrewal/status/1776292735063888374 
https://twitter.com/jchervinsky/status/1778141231190552784 
https://twitter.com/jchervinsky/status/1778455631277572241 
47:58 EigenLayer and EigenDA are going to mainet! 
https://twitter.com/eigenlayer/status/1777757913718899074 
https://twitter.com/sreeramkannan/status/1777791230556119183 
https://x.com/TrustlessState/status/1778463830219092476 
https://x.com/ayyyeandy/status/1778439191010873835 
1:00:40 Solana Tensor’s Airdrop
https://twitter.com/TensorFdn/status/1777350377895043537 
https://x.com/TensorFdn/status/1775193013230489721 
1:02:25 Bankless Airdrop Hunter
https://www.bankless.com/airdrop-hunter 
1:03:25 Circle Announces USDC Smart Contract for Transfers by BlackRock’s BUIDL Fund Investors
https://www.businesswire.com/news/home/20240411966052/en/Circle-Announces-USDC-Smart-Contract-for-Transfers-by-BlackRock’s-BUIDL-Fund-Investors 
https://x.com/RyanSAdams/status/1778430676984897970 
https://x.com/RyanSAdams/status/1778421743977173290 
https://dune.com/steakhouse/tokenized-securities 
1:09:10 Raises and BVC Investments 
MonadLabs raised $225M!  
https://twitter.com/monad_xyz/status/1777687376136982767 
1:17:38 Bankless is hiring! 
https://www.bankless.com/jobs 
1:18:00 MEME of the Week
Nic vs David! 🥊
https://x.com/TrustlessState/status/1775883303268081891 
https://x.com/TrustlessState/status/1774176205190709489 
https://x.com/nic__carter/status/1774070020873535536  
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Not financial or tax advice. See our investment disclosures here:
https://ww