skininthegame

Ethereum

Devcon Everyday Day 5 (sorry should have been posting it here too)

ETH is Permissionless Money by @mikeneuder.eth 

Saw this live, it was awesome. Here's a summary:

ETH IS MONEY
- Stable supply
- Low, sustainable inflation (0.9% annually, excluding burn)
- L1 burn offsets half of inflation
- L2 activity, in it's final form, can burn significant amounts of ETH, even with subcent txs 

ETH is Permissionless

Property Rights of ETH:
- On L1 -> Anyone can store, send, and program ETH without permission
- Rollups -> Scale ETH property rights. Permissionless bridging out retains L1’s property guarantees
- Non-Ethereum DA L2s -> Depend on external data layers, reducing property rights

USD(C/T): No property rights. Companies can blacklist holders anytime

Moneyness of ETH
- Inflation steadily reduced since launch. Post merge, supply growth is effectively stopped
- ETH has inflation + burn:
- High usage = burn offsets inflation, may even go deflationary
- Low activity = still sustainable incentives for validators

If you need more conviction - see thread and watch video!