Hey Josh, thanks for reading and providing an intelligent response! I've been getting head faked with all these scammer responses and I love hearing different points of view.

I agree that ETH mainchain is expensive, especially compared with SOL or new chains like Sui or Aptos. It is challenging for newcomers to use, but it seems like a breeze compared to Near, Polkadot, or some other L1s. Usability and adoption are improving on L2s as we are seeing massive adoption and usage by the Base Chain. I expect this to continue as Coinbase is making massive profits running this chain exclusively. And ETH is used for gas and liquidity pools on L2s so that is a positive catalyst for ETH.

I've looked at a few real estate RWA projects onchain and its challenging because its not really decentralized and most projects have underperformed. You are absolutely right about all the legal ramifications involved with real estate ownership, taxes, liability, etc.. Also, very few US operators are going to take the risk in this due to lack of regulations. I don't think real estate will be the second primary RWA use case.

Stablecoins, on the other hand, are exploding and providing a RWA use case. Treasury backed coins are growing quickly. And I think tokenizing stocks would be much more straight forward than real estate. It just seems like it offers so much when it comes to tokenizing stocks- fractionalization, 24 hour worldwide markets, borrowing/lending, and instant finality.

I believe ETH will get a good amount of the liquidity going into crypto via the ETF. When risk on comes back to crypto, TradFi people will bid up ETH as the high beta crypto play. Most of their clients will believe whatever BS is spewed to them from their advisor.

The presidential race is a wild card. Kamala would be bad for ETH in that her administration would stifle progress. On the other hand, they will print a lot of money because they clearly have no idea how economics works if they are discussing implementing price controls. Also, the democrats historically have a history of handing out money which will help all risk assets.

All the news I see is pro-Kamala. I'm not sure if that's because I'm in CA or if democrats own the internet outside of Twitter. The swing states are all that matters and I doubt there's accurate reporting on what is going on in those states.

Thanks for giving me ideas to think about. I love the queen of the pigs comparison :) This is a great way to describe Ethereum.