So the price is uncorrelated with actual use for smart contracts? 
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Replying to @pierre_rochard @cryptow1re and
Not sure I follow? Price is dictated by the market and markets can be extremely irrational in either direction. If we could predict price we'd all be billionaires.
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Replying to @panekkkk @cryptow1re and
Right, primary driver of ETH price is speculation, not utility
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Replying to @pierre_rochard @cryptow1re and
Price of all traded goods is speculation or have you forgotten how markets work?
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Replying to @panekkkk @pierre_rochard and
im not speculating on soap or banana prices when I buy those. I buy them for their use-value / to consume them (not hold). there are speculative component and utility component
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Replying to @MustStopMurad @pierre_rochard and
Uh oh looks like you just contradicted Pierre.
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Replying to @panekkkk @pierre_rochard and
lame; your previous comment was falsepic.twitter.com/DgxY0A2WnO
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Replying to @MustStopMurad @pierre_rochard and
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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Replying to @panekkkk @pierre_rochard and
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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Replying to @MustStopMurad @pierre_rochard and
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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Replying to @MustStopMurad @pierre_rochard and
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.
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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