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

Also, it has access to credit. Many will accept ETH as collateral and provide you further liquidity. 

Many in crypto do not understand the importance of liquidity (spot) and credit.

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

| 🎩  |  ↑  |  ⌐◨-◨

Meh USD is the true quote currency of crypto at the moment, but perhaps I have a jaded view

that's also downstream of medium of exchange 
if you want to look at it mechanically 
there's one place to look
that's the quote currency 

the reason i'm against emphasiszing anything else is that you time and time see dot eths throw around the 'collateral argument' in the expense not talking about the medium of exchange piece