It's crazy to see how much got burned. It did seem to play a factor into the markets but not as much as I would have expected. I would have thought higher since it's pretty much been cut in half in terms of new ETH entering the market.
Maybe that's the difference though? The burn is happening on the back end and not during the new creation?
To be honest I havent looked that closely at it. To me, I think I would have tried to create a better way to switch the system. Burning money is not a good idea in my view at the base layer. Can only lead to further liquidity problems.
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When they go to Proof Of Stake going to be huge liquidity issues
That was my thought. If you are going to run a system and get a ton of users on it, they need money to operate. Burning it means liquidity issues.
But then in crypto people only understand burns and lower the float. They think it is stock.
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Yea, I'm not so sure about that strategy either. I'm curious to see how this will play out in a year or so
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