Vitalik Buterin on Warpcast

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Sassal.eth 🎩⛽ pfp

Sassal.eth 🎩⛽

I strongly believe that exporting ETH as a commodity money/store of value is the primary way that ETH will become more valuable over time. Everything else, such as fee revenue and using ETH in staking, is important but secondary.

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Vitalik Buterin pfp

Vitalik Buterin

What are some specific actions (other than yelling "ETH is money, hold it!") that we can take to "export ETH as a commodity money/store of value" more effectively?

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Sassal.eth 🎩⛽ pfp

Sassal.eth 🎩⛽

Scaling Ethereum blockspace and growing the Ethereum economy is the obvious one - whether that be at L1 or L2's - more people can then use ETH as programmable money (staking, DeFi collateral, AMM pools, gas fees etc). Getting ETH on company/org balance sheets and ultimately in nation state treasuries is also very important (this requires direct outreach though).

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To truly replace BTC as the go to store of value, we need to be 10x more secure and we have to be able to explain why Ethereum’s tech is constantly improving - from proof of stake, to a future with lower staking thresholds and stateless clients that let anyone help secure the network. We need to make it clear that Ethereum is far more decentralized, while Bitcoin is stuck with ancient tech We’re already more decentralized (though this isn’t obvious enough to the public it will be as we decentralize further), more energy efficient, and easier to self-custody. The key is showing everyone that we’re not just catching up, we’re leaping far ahead, and this trend is only going to continue

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the native asset is unique to an economy -- the larger the economy, the more monetary demand for the native asset. The only way to grow the economy is to scale blockspace (L1 + L2s if we get interop, keystores etc right -- based/native rollups seem to go a long way)

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Sophia Indrajaal

@sophia-indrajaal

BTC has the store of value narrative locked down pretty tight. But as money, it's not great. ETH narrative- global computer, if it bears fruit, then ETH becomes actual money. BTC can work if people believe it does, ETH needs more, it needs to be an economy that people use to spread the idea of it. Ethereum as the rails for global AI commerce is the way. If the question is about spreading the idea, on-boarding people, then showcase what it is already doing. Best way to do that is pump the ecosystem, have market makers pump the "AI coins" and bring attention to that, and focus on continuing to build it. Farcaster is the most bullish thing I've seen in crypto, it actually gives me some hope, and far beyond "number go up".

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design/deploy durable meritocratic governance systems controlling progressively greater % of network resources . resist capital - structurally

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Sebastian Bürgel

Why is it even a desirable goal that ETH gets more valuable over time (other than my ETH bags going up and correspondingly somewhat increased security)? I see a lot of downstream drama of hyper-financialization (centralization, censorship, capture) that a Cypherpunk world computer as a goal wouldn't lead to.

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Build insanely cool apps using programmable cryptography. Build insanely cool apps using programmable cryptography. Build insanely cool apps using programmable cryptography. Build insanely cool apps using programmable cryptography. Build insanely cool apps using programmable cryptography.

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1. Top researchers and maybe EF outlining, in a single consensus document, standards for best-practices for bridges. Pushing for stage-2 equivalent for bridges on L2beat (currently it doesn't look good there). Maybe even publicly endorsing bridges that did a good job. 2. If/when large institutions ask, let the EF advise them on best practices (in a neutral way, equal access to all).

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CryptoPlaza🎩Ⓜ️💜 OG449

Totally agree with @sassal.eth However, I believe the monetary premium should be different; it should consolidate as the currency of a digital economy. It should enable the financing of public goods that can be accessed by citizens of this economy, which implies widespread use of the currency. I think fees should be seen not so much as profitability but rather as a way to fund that infrastructure.

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smallforest.eth

Issue gold ETH coins redeemable for a stated amount of ethereum

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