Lol It looks like Ultra Sound Money isn't all its cracked up to be, the idea of burning fees to make the token deflationary was always total nonsense, it was just a narrative and game they're playing.
#ETH removed proof of work so validators didn't need to spend money on electricity to create proofs, so they could increase their profits too
But even with so called deflationary money, the increase in price in fiat terms is clearly not enough to keep the validators happy
Now they have to issue more tokens to keep validators happy, and avoid them pulling funds out, dumping it or shutting down, lol looks like we're getting to see what tail emissions would do in real time, lets see if it works out for them.
Where is the demand for the extra tokens going to come from? Your guess is as good as mine
https://decrypt.co/199635/ethereum-supply-is-starting-to-grow-again-as-gas-prices-plummet
TheBitcoinManual
npub10m…kn8mj
2023-10-01 09:45:13
Author Public Key
npub10mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsnkn8mjPublished at
2023-10-01 09:45:13Event JSON
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"pubkey": "7ecd3fe6353ec4c53672793e81445c2a319ccf0a298a91d77adcfa386b52f30d",
"created_at": 1696146313,
"kind": 1,
"tags": [
[
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]
],
"content": "Lol It looks like Ultra Sound Money isn't all its cracked up to be, the idea of burning fees to make the token deflationary was always total nonsense, it was just a narrative and game they're playing. \n\n#ETH removed proof of work so validators didn't need to spend money on electricity to create proofs, so they could increase their profits too\n\nBut even with so called deflationary money, the increase in price in fiat terms is clearly not enough to keep the validators happy\n\nNow they have to issue more tokens to keep validators happy, and avoid them pulling funds out, dumping it or shutting down, lol looks like we're getting to see what tail emissions would do in real time, lets see if it works out for them.\n\nWhere is the demand for the extra tokens going to come from? Your guess is as good as mine\n\nhttps://decrypt.co/199635/ethereum-supply-is-starting-to-grow-again-as-gas-prices-plummet",
"sig": "3c8f5c7ba84f7114ddfd28f3059542fba3bf50a7e0a249e18944a9173fab4cb76838b0ba30fb9b3b72be54486a448f5a392f0a90a80373c1dfc6dcf1e933a450"
}