Vitalik has just DEALT a major blow to $ETH 's "ultrasound money" narrative! He wants Ethereum to focus on promoting $ETH as a core STORE OF VALUE asset, rather than relying solely on the fading "fee-burning token" or "ultrasound money" narratives.
Vitalik acknowledges that EIP-1559 is still useful, but the fee-burning mechanism is now not strong enough to create significant deflation for $ETH , especially now that network fees have fallen. The ultra-deflationary narrative is no longer convincing.
Instead, the core value of $ETH must lie in Ethereum's RESILIENCE: decentralization, censorship resistance, open source, and security. Vitalik calls these "CROPS"—the vital qualities of a sustainable store-of-value asset.
The future of $ETH will depend on real-world utility: Real World Assets (RWA) and DeFi on Ethereum will generate more sustainable demand. This matters more than trying to increase short-term revenue at the expense of decentralization or security.
This is an important strategic shift. It could change how major investors view and value $ETH over the long term, laying the groundwork for a stronger position as an asset. Could $ETH really become the next "digital gold"?
#Ethereum #ETH
$ETH
Vitalik acknowledges that EIP-1559 is still useful, but the fee-burning mechanism is now not strong enough to create significant deflation for $ETH , especially now that network fees have fallen. The ultra-deflationary narrative is no longer convincing.
Instead, the core value of $ETH must lie in Ethereum's RESILIENCE: decentralization, censorship resistance, open source, and security. Vitalik calls these "CROPS"—the vital qualities of a sustainable store-of-value asset.
The future of $ETH will depend on real-world utility: Real World Assets (RWA) and DeFi on Ethereum will generate more sustainable demand. This matters more than trying to increase short-term revenue at the expense of decentralization or security.
This is an important strategic shift. It could change how major investors view and value $ETH over the long term, laying the groundwork for a stronger position as an asset. Could $ETH really become the next "digital gold"?
#Ethereum #ETH
$ETH