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Crypto Darwinism is a real thing. Insane to see that amount of money just disappear. Literally just poof, it's gone. Not "gone" like someone stole it, because t
by YATA0 5y ago
Crypto Darwinism is a real thing. Insane to see that amount of money just disappear. Literally just poof, it's gone. Not "gone" like someone stole it, because that money didn't disappear, the thief has it now. This money literally went into a digital blackhole.
- nikanj 5y agoThe price of eth is surprisingly easy to calculate, with the coin price being (new dollars people are willing to invest into crypto)/(amount of coins in circulation). There are no pesky externalities like "amount of EBITDA per outstanding eth", every single dollar is coming from someone buying in. This reduced the denominator, thus increasing the value of eth.
- YATA0 5y agoIs this a GPT-3 generated comment? Did you reply to the wrong thread?
- cuteboy19 5y agoThe EBITDA of eth is exactly 0, actually.
- 0x64 5y agoDepends on what you count as earnings; Ethereum did $9.9b in transaction fees and tips alone last year. [1] https://stark.mirror.xyz/q3OnsK7mvfGtTQ72nfoxLyEV5lfYOqUfJIoKBx7BG1I https://stark.mirror.xyz/q3OnsK7mvfGtTQ72nfoxLyEV5lfYOqUfJIo...
- cuteboy19 5y agoThat's the cost the network pays to miners/core devs. So EBITDA comes out very negative
- 0x64 5y agoThe cost highlighted there does not include new issuance, as in block rewards which are paid by the network protocol. The entirety of that $9.9b are fees paid by users in the form of gas and tips. Since EIP-1559 was implemented in August, the majority component of the transaction fees is burnt, and only the tips go to the miners. Core devs do not receive transaction fees or tips, or anything really. If you were to include block rewards as a negative cash flow, then Ethereum would have indeed done a negative EBITDA of around $3b. That will change with PoS, which drops issuance signficantly.
- ciupicri 5y agoWhat do you mean by crypto Darwinism?