Probably more nuanced than “destroyed.” The entire value of the coin didn’t exist like 6 years ago and is now $500B. The burned coins are just going to be factored into the price in some way.

I don't agree. Every year, a max of 18 million ETH is created through mining every year with no hard cap on # of ETH.

Starting August 5th for the first time, coins that were created were literally destroyed.

You can see the profound impact this has had on the total ETH supply in the chart below. You'll see the growth curve largely flattened out.

https://ycharts.com/indicators/ethereum_supply

Hope we have 2.0 soon…

> since EIP-1559 that went live on August 5th

How did they pull that off w/o a hard fork?

Or was this a planned feature from the get go?

Of course it needed a hard fork: https://ethereum.org/en/history/#london

It was first proposed by Vitalik in 2018 but lay dormant for a while before being picked up by community members and being prepared for inclusion. IIRC it took about 2 years to get it into production.

Besides the technical changes it's interesting as the most vocal proponents weren't developers and as such its inclusion was truly driven by the community.

True that…