>>I see what you mean, but that opportunity cost applies to all currencies. I don't mean that. I mean the actual process of converting liquid wealth into/out-o

>>I see what you mean, but that opportunity cost applies to all currencies. I don't mean that. I mean the actual process of converting liquid wealth into/out-of ether staking deposits, and of sacrificing liquidity to maintain stake deposits. That is not a free activity. Given the earnings accrued to anyone with staking deposits, there will be competition to increase the share of one's wealth that are held as staking deposits, and that requires increasing frequency of these activities. The cost of all of these activities will approach the revenue generated by holding ether.