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> Let me ask you, is there a good or common reason to buy etherium today besides hoping that it increases in value? A classic use case is engaging in commerce
by dlubarov 4y ago
> Let me ask you, is there a good or common reason to buy etherium today besides hoping that it increases in value?
A classic use case is engaging in commerce (whether it's with ETH, DAI, USDC, etc), without needing to trust a middleman like PayPal to not freeze or steal your funds. For this one needs ETH to pay gas.
- bradjohnson 4y agoPrimarily, the problem with that is I don't know anywhere that I would choose to spend money that also takes ETH. I also don't really think that what you're describing is good or common. Common: The middleman is still there in the most common case since most wallets are custodial. There are a ton of recent examples of exchanges freezing accounts, including the very article that we're commenting under, so I don't really get what you're talking about. Good: It doesn't make sense to use a wildly volatile deflationary token as currency. Deflation discourages spending which is why there is no real currency that restricts the supply of money to a fixed amount, because it encourages hoarding.
- deleted 4y ago[deleted]
- dlubarov 4y ago> most wallets are custodial I wouldn't argue that everyone should self-custody. If many users have access to convenient custodians who they can trust not to steal their funds, that's great; it's just that not everyone does. I don't really have a stance on Eth's monetary policy, I was just trying to address your point about a use case.