Note that new blockchain designs based on proof of stake have analogues of cashflows and revenue in the form of transactions fees. Thus, the article is misleadi

Note that new blockchain designs based on proof of stake have analogues of cashflows and revenue in the form of transactions fees. Thus, the article is misleading claiming all cryptocurrencies are zero coupon schemes. - Proof of stakes and validators secure the network - Users pay for this security in the form of transaction fees - You can choose if you want to participate validating (lock your tokens to net on the transaction fees) or use them to pay the fees (use them for utility) Thus, zero coupon perpetual bond analog works only for certain types of blockchains like Bitcoin, where the network security is a separate function. It does not apply well for Ethereum in its current proof of stake form. This distinction can be done regardless if you think cryptocurrencies are scam or not, and is purely technical.