there is a tragic misunderstanding of the concept of money in the Ethereum narrative

money is the game of *liquidity and faith*
tell whatever story suits your faith (security, PoW, shiny object, sea shell, bats, croissants)

but don't you dare ignore liquidity

it's dead simple
ETH is money because it's the quote currency on the AMMs 
if the Ethereum economy grows, more and more Ether will be required to provide liquidity 

- security is a means not an end
- unit of account and store of value are downstream of medium of exchange 
- dot eths handed over the narrative to justin and he just shows zero understanding/interest in money's most important quality (MoX)

bats and croissants ain't it G

My bat signal 🦇🔊 will return when ETH is ultra sound again, soon enough™.

ETH supply currently grows 0.5%/year. That's 1%/year of issuance minus 0.5%/year of burn. To become ultra sound again, either issuance has to decrease or the burn has to increase. I believe both will… https://t.co/5TsAowD2jA

Justin.eth Drake

there is a tragic misunderstanding of the concept of money in the Ethereum narrative

money is the game of *liquidity and faith*
tell whatever story suits your faith (security, PoW, shiny object, sea shell, bats, croissants)

but don't you dare ignore liquidity

it's dead simple
ETH is money because it's the quote currency on the AMMs 
if the Ethereum economy grows, more and more Ether will be required to provide liquidity 

- security is a means not an end
- unit of account and store of value are downstream of medium of exchange 
- dot eths handed over the narrative to justin and he just shows zero understanding/interest in money's most important quality (MoX)

bats and croissants ain't it G

https://x.com/drakefjustin/status/1887108667675124174

Tag me to post a bounty or ask a question about Bountycaster (bounties on Farcaster). Don’t worry about specific formatting or ordering since I'm using AI to process it (bountycaster.xyz) /bounties. FAQ: bountycaster.xyz/faq

$150 USDC to anyone that creates the following Dune graphs

1. amount of ETH in liquidity pools across all L2s and L1 against price of ETH
2. amount of SOL in liquidity pools against price of SOL

@bountybot