Mime realizes that Siegfried is "the one who does not know fear" and that unless he can instill fear in him, Siegfried will kill him as the Wanderer foretold.
Mime opdager, at Siegfried er "den, der ikke kender frygt": Medmindre han kan lære ham frygten at kende, vil Siegfried dræbe ham i overensstemmelse med Wanderers forudsigelse.