Yup completely agree
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Uh oh looks like you just contradicted Pierre.

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I was speaking about markets like forex and equities not food but thank you for pointing out that utility does get factored into price. I’ll be sure to cite this profusely until you delete it.
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you said “all traded goods” Mr Backpedal stocks and forex also have utility components btw Pierre said “the primary driver” which makes total sense. ppl barely use ETH for shit except for speculating on its very price. dApp DAUs are abysmal 4 years in, there’s barely any demandpic.twitter.com/vqL6WKXnPC
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I’m sorry, I don’t trade bananas sir. All cryptos are largely bought on speculation and if you think otherwise you’re even higher than I thought. If anything, off all the assets, ETH was being bought most for its utility such as to contribute to ICOs. Now watch me backpedal:pic.twitter.com/xfQVPU9E7K
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USDT is bought for more utility (anxiety reduction) than speculation
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Yah that’s fair. Stable coins are a really interesting wild card in the whole debate as they are quite literally instant SOV/MOEs as long as you trust their underlying currency pegs and mechanisms. Can’t deny these are interesting times.
End of conversation
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