Did you know that fees on Ethereum can be paid in any asset, not just ETH? Another strong argument for why only the strongest SoVs can capture value long term.https://twitter.com/JeremyRubin/status/1036414857925545984 …
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Replying to @hasufl
I don't believe this is the case. At least not for now. But let's assume this would be the case, miners would still prefer to receive their pay in ETH, as oppose to random-token. Is this not the case? So user can pay with random-token, but built in mechanism will switch to ETH.
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Replying to @anjkdaklajd2kl1
It's not comfortable to do this right now, but it will be in the future. The protocol requires no "switching back" to ETH at any point.
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Replying to @hasufl
Here's Vitalis Buterin's response, BTW:https://www.reddit.com/r/ethtrader/comments/9ch5ls/the_collapse_of_eth_is_inevitable_techcrunch_can/e5av470/ …
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Replying to @hasufl
B Retweeted Arthur B. 🚀
Update: Arthur Breitman weighs in (disclosure: I think very highly of Breitman :)https://twitter.com/ArthurB/status/1036538962360315905 …
B added,
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Replying to @anjkdaklajd2kl1
Yes, I know
@koeppelmann 's position on this very well and I agree with Arthur here. Absent moneyness the ETH token cannot be valuable because even if fees have to be paid with gas, for 95% of uses cases Ethereum is too inefficient and expensive compared to alternatives.1 reply 1 retweet 0 likes -
So the path to value for ETH is moneyness, and moneyness only. Everything else can be commoditized.
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precisely the opposite, it’s one of the few things that won’t be commoditized. it’s in everyone’s interest for it *not* to become commoditized.
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