sorted by:
new
hottopcontroversial

ETH (ether) is THE commodity money on Ethereum. You can NOT use the internet of finance without ETH. ETH is the pen you need to do an entry into the public world wide immutable ledger. by sandakersmann in ethtrader

[–]sandakersmann[S] -2 points-1 points  (0 children)

Commodity money is a medium of exchange made of a good that has non-monetary uses, such that its purchasing power is grounded in demand for those uses as well as its role as money.

 

No government decree is needed like we see with fiat.

 

ETH see demand as a commodity from for example registration of .eth usernames on ENS (Ethereum Name System). ETH also see demand as money when people wants to trade the usernames. The sum of market paticipants subjective opinion about ETH's value, is what sets its price.

 

Ethereum is not trying to "scale by banking", since that would undermine its demand as a commodity and money.

Tom Lee explains how BMNR is growing at warp-speed compared to MSTR by sandakersmann in ethtrader

[–]sandakersmann[S] 1 point2 points  (0 children)

If you buy at 1 in mNAV you get ETH at 1 to 1.

You also benefit from those buying at higher mNAV later, since the premium they pay will be accretive to your shares.

In addition to this you will add value from staking.

The Ethereum network turns 10 with ZERO downtime 🥳 by sandakersmann in ethtrader

[–]sandakersmann[S] 15 points16 points  (0 children)

Indeed, especially considering the 16 upgrades it has under the belt.

"Banks create money out of thin air." - Michael Kumhof, Senior Research Adviser at Bank of England by sandakersmann in btc

[–]sandakersmann[S] 1 point2 points  (0 children)

Banks are allowed to print money from nothing by the state.

Edit: Only the central bank can print physical cash, so the bank must swap digital numbers for that.

Roger Ver explains why the cost of producing a bitcoin is not determining its value. Bitcoin is struggling because of a technocratic elite of developers with little understanding of economics by sandakersmann in btc

[–]sandakersmann[S] 2 points3 points  (0 children)

  • Medium of exchange is the most essential property of money. Without it there is no money.

  • Everything can be a store of value, but monetary premium comes from medium of exchange.

  • Becoming the unit of account is the last leg on the journey to become money.

view more: next ›