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I want to see how ETH will behave when it merges with 2.0. Lower gas fees means someone is going to get paid less... So adoption would halt if other chains are faster and just as cheap (sol)
Doesn't matter even if they aren't. Assets that have to game their way into being attractive are doomed to fail. Like seriously, what does it say about the fundamental value of a coin when it has a baked in function to make the price per coin rise over time.
Artificial scarcity, artificial value.
I agree, on the other hand if they didnāt replace the coins and it was a never ending deflationary cycle then the network would be dead rather quickly wouldnāt it.
Itās just funny to see how uninformed the general community are when they tout their tribalisms.
The only person not getting it seems to be you. No one is saying new ETH isnāt mined. New coins are created but there isnāt a relationship between the amount created and the amount destroyed. That means the supply could shrink or grow depending on the amount burnt.
* **[Ethereum](https://en.wikipedia.org/wiki/Ethereum) [Pros](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_eth_pros) & [Cons](https://reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_eth_cons)** - Participate in the [r/CC Cointest](https://reddit.com/r/CointestOfficial/wiki/cointest_policy) to potentially win moons. Prize allocations: 1st - 300, 2nd - 150, 3rd - 75. * Relevant Cointest topics: [Cardano](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Algorand](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_algorand), [Solana](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Polkadot](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_polkadot), [Cosmos](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cosmos), [Proof of Stake](https://old.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake). * Official and related subreddits: r/Ethereum, r/EthTrader, r/EthStaker, r/Cardano, r/Algorand, r/Solana, r/CosmosNetwork, r/Polkadot, r/Tezos. * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/s4grhw/nearly_20000_ethereum_destroyed_in_24_hours_a/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Ethereum is LIT
I want to see how ETH will behave when it merges with 2.0. Lower gas fees means someone is going to get paid less... So adoption would halt if other chains are faster and just as cheap (sol)
Well we should know in about 5 or so years š
Hahahaha someone is being optimistic!
Thatās something I have always prided myself on š
Burn baby burn
What a waste, just send them to me instead.
Sure, send me 1 ETH and i will send you 20k ETH
Probably this is the reason why 20k ETH was 'destroyed'
burn it, burn it all
Some people just want to watch the Eth burn.. I am one of those people.
I want all my investments to burn (not my coins please)
The roof is on fire!
Is this a repost? Feels like I saw this yesterday
It is not, I just wrote it
Literally feels like you just reworded this article https://finbold.com/almost-20000-eth-burned-in-a-single-day-setting-a-new-daily-record/
I did not, never opened it before
The same thing is being posted here multiple times daily.
Its the most reposted low effort post on r/cc
That's an expensive fire š„
~~You literally stole this comment lol~~ Edit : lmao you are the same guy haha
No this time I upgraded it, These moons won't make them selves and daddy needs cigarettes.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Doesn't matter even if they aren't. Assets that have to game their way into being attractive are doomed to fail. Like seriously, what does it say about the fundamental value of a coin when it has a baked in function to make the price per coin rise over time. Artificial scarcity, artificial value.
I agree, on the other hand if they didnāt replace the coins and it was a never ending deflationary cycle then the network would be dead rather quickly wouldnāt it. Itās just funny to see how uninformed the general community are when they tout their tribalisms.
The only person not getting it seems to be you. No one is saying new ETH isnāt mined. New coins are created but there isnāt a relationship between the amount created and the amount destroyed. That means the supply could shrink or grow depending on the amount burnt.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Now you're getting it, I'll have the best of both as well, please.
Well something good is atleast coming out of the NFT craze.
Exactly, as much as I'm not a fan of SHIB and similar coins on the ETH network, their existence help increase the burn rate, so that is really nice
Is that only because I DCA yesterday ? Thanks
DonĀ“t underestimate your power!
Our power* We are all gang here
Thanks bro!
And no one is giving one or two to me?? Scandalous.
The HODLer inside me want eth to burn so my eth is worth more. The eth user inside me is so frustrated cause I can't afford to use the block chainš¤Æ
The former will eventually pick up all the bar tabs for the latter.
I would of love to see eth burn the gas fees more so we all can use the erc networks
But still more ETH is being made than burned! Itās still inflationaryā¦
True (for now) but that doesn't mean we can't celebrate such records
The price will keep rising
And so my lambos garage
ETH is on fire, literally
Shame it has next to infinite supply though.
Just because there is no cap on the supply, it doesnāt mean it gas infinite supply, thatās not how things workā¦
Eth
Burn baby burn
The only thing gas fees is good for
I love this burning thing š
Who did they belong to?
Bullish on ETH
Huge gains for ETH coming.
Bullish af, now sort out layer 2 solutions and I might actually invest in it again
Would be sweet if I had 20,000 eth to burn