1/ You can theoretically have quadrillions ‘passing’ through Ethereum and ether could still not acquire much of a SoV monetary premium, and deep inside you know this to be true.
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Your argument is invalid -> more money going to ICO's -> higher ethereum pricepic.twitter.com/1teNvymsu2
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I think the amount of money raised by utility token ICOs will go down over time.
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Category "other" on coinmarketcap is growing. Ethereum is really useful as fundraising platform and I would expect even more money to be sloshing and captured by ETH + ERC20 tokenspic.twitter.com/27N6KPGq7B
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If ETH doesn’t become seen as a SoV, interoperability + abstraction + frictionlessness + seamless DEXes + atomic swaps will make that “near-term” holding period get shorter and shorter, potentially driving ETH velocity higher, and hence, price lower.
End of conversation
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I think we’re speaking the same language. If there is no incentive to hold ETH other than for near-term use, then it’s value proposition as a long-term SoV goes down.
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I agree. I’d also add that, if ETH doesn’t become seen as a SoV, interoperability + abstraction + frictionlessness + seamless DEXes + atomic swaps will make that “near-term” period get shorter and shorter, potentially driving ETH velocity higher, and hence, price lower.
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Higher velocity doesn’t always translate to lower price. If the rate of velocity growth exceeds the rate of “GDP” growth (PQ) then yes, it will translate to a lower price & weaken the case for hodling.
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Could you clarify what we are looking at with this chart?
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Looks like NVT left axis and network value right axis
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I love this tool - it's great tool for quick rebuttal of not data driven tweets ;) Usually intuition about SoV/Velocity is wrong
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I agree with your point - velocity isn’t exerting itself yet for many reasons - but Ethereum NVT is misleading there (my bad...) going to publish something on the topic soon
End of conversation
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