Vitalik just dropped a spicy take: pushing fees to the max on Ethereum could kill decentralization.
So if high fees aren't the play, what actually backs $ETH value long-term?
Think about it:
• Staking yield compression
• L2s eating mainnet revenue
• Fee burn mechanics under pressure
The bull case needs a new narrative beyond "gas = value accrual"
Maybe it's security budget, maybe it's settlement finality, maybe it's something we haven't priced in yet.
Either way, this is the question that separates $ETH maxis from actual thinkers.
So if high fees aren't the play, what actually backs $ETH value long-term?
Think about it:
• Staking yield compression
• L2s eating mainnet revenue
• Fee burn mechanics under pressure
The bull case needs a new narrative beyond "gas = value accrual"
Maybe it's security budget, maybe it's settlement finality, maybe it's something we haven't priced in yet.
Either way, this is the question that separates $ETH maxis from actual thinkers.