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frazer
@frayy
@sassal.eth, thoughts on the argument that 4844 will be bearish due to lower fee burn by L2s? From my view, Eth’s monetary policy is already ~0% inflation even without L2 fee burn, so it’s far more important to increase L2 throughput and decrease fees than lamenting Eth might not be deflationary long term.
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Sassal.eth 🎩⛽
@sassal.eth
Agree but also ETH gets most of its value from being a money/SoV - not from fee revenue. Cheaper fees on L2's > more people using them > more people using ETH > ETH's moneyness properties increase > more valuable ETH.
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frazer
@frayy
It’s an interesting thought exercise. Cause technically 4844 decreases Eth’s value from a DCF perspective - in the short term - but expands it from a SoV/Moneyness one. Which from my limited understanding is probably still net accretive, if more nebulous.
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