Kevin Zhou, co-founder of Galois Capital, comes to talk about the possibility of a Proof of Work chain on Ethereum after the Merge, the LUNA death spiral, how he plans to play the Merge, and much more… 

Show highlights:

  • how Kevin got started in crypto 
  • what Galois Capital is and what its investment thesis is
  • why Kevin was more vocal than most about the possibility of the LUNA death spiral
  • whether Kevin made money out of the Terra collapse and what was his strategy
  • what the difficulty bomb in Ethereum is
  • the potential scenarios that could arise after the Merge
  • whether the public is not considering the risks of the Merge
  • how the fact that everybody was telling the same narrative about ETH made Kevin suspicious
  • how Chandler’s statement about forking Ethereum made it a lot more likely that it would happen
  • the groups behind the encouragement of a proof-of-work Ethereum chain
  • whether there is a value proposition for a Proof of Work chain
  • how Kevin used The Cryptopians to remember how the DAO fork went
  • what replay protection is and why it is important when forking a chain
  • why anyone would want to keep the difficulty bomb in a potential proof of work chain
  • Kevin’s predictions about the market cap of the potential Ethereum forks
  • how a proof of work chain of Ethereum would function without the biggest stablecoins like USDT and USDC
  • whether Tether is going to support Ethereum 2
  • why Kevin writes using metaphors related to history and gaming and how those analogies relate to Ethereum
  • how Kevin wanted to “stick it” to the Ethereum Foundation by offering his services
  • whether Vitalik trolled Kevin on Twitter
  • whether Kevin will apply the same strategy he used with ETC after the DAO fork

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What is the Merge?:

Proof of Work Chain

Kevin’s analogy:

Haseeb’s answer to Kevin’s arguments:

Chandler Guo’s proposal:

Kevin’s consulting offer:

BitMEX researchers on the possibility of an Ethereum PoW chain:

CoinDesk article:

Poloniex’s announcement:

Justin Sun’s support of ETHW:


Read the episode transcript here