A deflationary Ether, a gas token, means the incentives are: 1. hold ETH 2. don’t spend ETH 3. alts asymptote to zero against ETH pair 4. sell dying alts for more ETH Devs need to fix broken incentives for any hope in the long term
Arush @arush
Jan 14
Surprise surprise, a deflationary base asset is not good for Ethereum apps
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Proof of Stake is such a faithful recreation of fiat that they even copied the Triffin dilemma This is the same phenomenon we’re seeing with the worldwide shortage of dollars destroys assets when the base money is deflationary (Dollar Milkshake Theory)

Jan 15, 2022 · 2:42 AM UTC · Twitter for iPhone
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