Vitalik Buterin advocates promoting ether as a store of value over fee-burning asset
Ethereum co-founder Vitalik Buterin argues that Ethereum should position ether as a store of value rather than relying on its fee-burning mechanism, noting the burn thesis was never as strong as it appeared.
Vitalik Buterin says Ethereum should promote ETH as a store of value rather than a fee-burning asset, according to a report shared by Quartz. Buterin argued that the fee-burn thesis was never as strong as it seemed, arriving as median transaction fees on the network declined from 35 cents.[1][3]
Crypto journalist Laura Shin also highlighted Buterin's stance that ETH's core value originates from its function as a store of value rather than through fee burn. In response to the broader layer-1 debate, market commentator @jdorman81 argued that layer-1 tokens possess almost no standalone value on their own, contending that capital is instead concentrated in the decentralized exchanges and stablecoins deployed on top of them.[2]
Key facts
- Vitalik Buterin stated that Ethereum should promote ETH as a store of value rather than a fee-burning asset.
- Buterin argued that the ETH fee-burning thesis was never as strong as it seemed.
- Median Ethereum transaction fees fell from 35 cents.
- @jdorman81 argued that layer-1 tokens have almost no value on their own and that capital is held in decentralized exchanges and stablecoins built on top of networks.
Sources · 3 sources
- QU
Quartz@qzPost on X ·
Buterin pitches ETH as store of value as fee revenue lags: Vitalik Buterin says Ethereum should promote ETH as a store of value rather than a fee-burning asset, arguing the burn thesis was never as strong as it seemed. Median transaction fees fell from 35 cents… dlvr.it/TWJWNb https://t.co/ItZrjjWSgY
Open source - LS
Laura Shin@laurashinPost on X ·
Vitalik says ETH's value comes from being a store of value, not fee burn. @jdorman81 says L1 tokens have almost no value on their own: the money is in the DEXs and stablecoins built on top. He joins me live Thursday at 2pm ET. https://t.co/xzlbMQEyez
Open source - ME
memeburn@memeburnPost on X ·
Ethereum Could Succeed Without Burning More ETH. Vitalik Makes His Case https://t.co/NEjNszmirG
Open source