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>> No.50442601 [View]
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50442601

I understand where you're coming from in this, because the logic of "tokens are needed to pay gas, and thus that need drives the value of the token" is a self consistent logical statement. My reply was to point out that, outside of crypto, financial layer-1 systems that are/near frictionless tend to accrue value/users/ecosystems very quickly. Paper money is one example, while the movement from PayPal -> Venmo (and why PayPal bought them) is another wholly different example of a similar flavor.
While tokens needed for gas is self-consistent, I'd argue the logic is limited in how important it is. For example, does ETH's or BTC's high fees really drive up the token value beyond 5% of total value? Moreover, and I suspect this is the true state of affairs: it's possible that high fees can simultaneously drive a token's value up AND limit a token's value by limited usage/adoption. Then the question is what is the net impact of high gas fees?
I'd argue that the net impact varies on token value/market cap. For sub-$100MM market cap layer-1 tokens, and for many/most dapps, the net benefit of high fees may outweigh the retarding effects on growth/usage. Past that point though, it's hard to see how a $5 per tx gas fee is anything other than a net negative.
NB: when constrained to the aforementioned discussion's conceptual framework, there's noteworthy difference between PayPal vs ETH/BTC in that while PayPal can continue to grow through acquisition... ETH/BTC cannot. This is a feature, not a bug, of crypto and yet it still has large implications when we consider the historic patterns of value-accruing monetary systems and how they navigate migrations to lower-cost alternatives.

>> No.50093881 [View]
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50093881

There are only three good coins in this market

The first is from an up-and-coming legendary exchange with actually good tokenomics, strong morals and a based founder. If you believe in crypto being a long term success it is perfectly reasonable to incest part of your portfolio into owning part of a crypto exchange. The problem with this is that most exchanges either hate you and want you to lose money which is an unsustainable business model where they are just hoping to make a quick buck or are VC scams that only ever sell equity to retail investors to dump on them.

And the other is a smart contract platform that remained with a proven and secure consensus in a world where security and decentralization is forgotten due to greed and VC capital, all while being the only ones to, actually and definitively come up with a solution to the long-standing problems of cryptocurrency allowing for real adoption of the market and not hindering it like the current market leaders do.

Last but not least a rather notorious coin, little needs to be said about the one currency that actually can be called money.

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