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Baroness de Generateux 🙏 @degenerateux on x XXX followers
Created: 2025-07-18 16:09:40 UTC
the "ETH is oil" metaphor makes a lot of sense
ETH powers the Ethereum network which is the backbone of the next-gen finance, not unlike oil powered the then next-gen of the industrial economy back in the early 1900s (and we are largely still living in that paradigm)
but here is the thing: oil cannot be too expensive because otherwise the industrial economy it powers will stall. in a similar manner ETH cannot get too expensive because it will stall the Ethereum-based financial system
the Ethereum Foundation is clearly aware of that, and that's why they have created a lot of contraptions through the years to reduce gas fees. but they also want to somewhat compete with BTC, so also more contraptions (the burn mechanics) to artificially inflate the ETH price
we have a funny situation where the interests of Ethereum users are in conflict with the interests of ETH holders
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Related Topics finance ethereum coins layer 1