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Fuck that fucking fuck. FUCK
@LanderNFT 2020-12-18 11:31:05
Jotted this down a few months ago How the value of the Ethereum "network" will flow to Ether the asset I have an analogy Imagine Linux, look at the things that have been built on top of it. Similar things will be built on top of things built on top of Ethereum so to speak
@pranav4411 2020-12-18 12:12:44
Now for every action to execute imagine, you had to pay Linux a fee in its native "token" Bringing that to Ethereum, In order to run the global computer, you need to spend Ether and lock-up Ether. Ether is trustless and Decentralised
@pranav4411 2020-12-18 12:12:44
The same Ether can be used as collateral Financial Services For eg: to borrow aDollar pegged Stablecoin You won't "transact" daily with Ether, you will probably do so on a stablecoin or "Fiatcoin" of said country. But what are most of these built on? Ethereum the network (Fees)
@pranav4411 2020-12-18 12:12:45
With EIP 1559 Fees are burned, thereby creating scarcity or decreasing the amount of Ether in circulation For the global settlement blockchain to run (Linux analogy) you need to "stake" Ether, hence locking up more Ether for long periods of time
@pranav4411 2020-12-18 12:12:45
Without Ether the asset, the whole network fails. With Ether circulation turning scarce due to staking and Fee burn Ether turns into a unique asset in the world It is a utility asset that generates yield through Staking and Lending while turning scarcer due to the protocol
@pranav4411 2020-12-18 12:12:45
Ethereum the network is the Farm. Ether is the water to the Farm The difference is, Ether keeps getting scarcer to get a hold of over a period of time
@pranav4411 2020-12-18 12:12:46
How much is this tweet worth? ☼☽
@js_horne 2020-12-18 12:35:36
