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Sassal.eth 🎩⛽
@sassal.eth
People complaining about Ethereum fee revenue being down are missing the forest for the trees. If Ethereum didn't scale - if blobs weren't introduced - then lots of activity that was on Ethereum would've moved to other layer 1's instead of layer 2's. This would've been a *much* worse outcome for Ethereum than losing fee revenue. Yes, there is currently an imbalance between how much money rollups sequencers make and how much revenue Ethereum L1 collects from rollups, but this is imo a temporary phenomenon. Ethereum is in its hyper-scaling phase and now has excess blockspace with not enough demand to fill it (yet). If you believe in the decentralised future enabled by Ethereum like I do, then you believe that Ethereum is going to grow 1000x and more from here - this is what the focus should be on; not on how much rent Ethereum can extract from the small existing pool of users.
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Jack
@jackten
I think people are mostly bummed because we thought that there was all the demand waiting to use the chain that couldn't afford the high transaction fees.. but now that barrier is lifted we're just sitting here with baren block space nobody even wants for basically free. You can add up all the L2s together and we're still doing fewer transactions than Solana
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Sassal.eth 🎩⛽
@sassal.eth
I have a bridge to sell you if you think 99% of those txs on Solana are real user txs and not just spam 😅
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Jason
@chaskin.eth
Be patient blobs are a new resource & we're seeing an influx of demand because tx have become much cheaper, & this is only going to continue. Justin Drake predicted that since it's a new resource, it will take time to become fully utilized (12:58 in the video). I'm still surprised no one has tried to subsidize the fees Ethereum L1 remains by far the most secure blockspace in the world, including Bitcoin. Now your secure digital value can be transferred more cheaply if you choose If you're primarily concerned about the price of ETH, it’s worth revisiting this polynya post (https://polynya.mirror.xyz/GPC26Y_rlwCyPpj_N3HeW_izY1-pIVwKW5bjuPNrGeQ). Remember if ETH is to play a significant role in the future it won’t be because of some burn mechanism but because it’s the safest most pristine asset that people want to use to store wealth & as collateral. Now you can use ETH as collateral much more cheaply on both L2s & L1 Play long term games, ignore the noise https://www.youtube.com/watch?v=6_NXxcGe7Ts
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Danny
@mad-scientist
my SQL server does significantly more tx than solana. How much do you think it's worth?
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