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You’re basically just saying ETH itself isn’t an actual asset. However, it’s needed to use the Ethereum network.
by junofan 3y ago
You’re basically just saying ETH itself isn’t an actual asset. However, it’s needed to use the Ethereum network.
- mjburgess 3y agoI imagine you aren't joking... but this might well be a joke. The ethereum network has no use, right? Nothing is priced in ethereum, no one needs ETH, nor will they ever. Magic beans might be required to play the magic bean game -- casino chips are required by the casino, sure. But people enjoy gambling, there's an exchange of value -- a reason a person will work a day to make $100 and then trade it for an evening gambling. But cryptocurrency networks do not have any reason to use them: nothing is priced in them, no govs tax in them, no businesses hold them, and so on. There's smallish number of criminal gangs (and the like) who do have a use: a lot of crime today is priced in crypto. This gives highly anonymous networks an actual exchange value for their tokens. I suspect this minimal value will be targeted by relevant govs eventually, and disappear.