Re:Evolution of the Ethereum Proof-of-Stake Consensus Protocol
by Galanwe on Sunday December 25, 2022 @12:40AM
(#34124652)
Why should you care?
You are not supposed to buy ETH as a way to speculate on its price.
ETH is a resource used to represent processing and storage power. You can think of it as "AWS credits" that you can buy and use to run programs.
The absolute price of ETH is of no interest. The only meaningful number that you should care about is "what is the gas price compared to the ETH price", as in, "how expensive is it to access decentralized computing".
Speculating on ETH value is an investment strategy that is completely separate for ETH utility. People interested in the latter shouldn't care about the former. Just as people using AWS shouldn't really care about AWS stock price.
Re:Evolution of the Ethereum Proof-of-Stake Consensus Protocol
by c22 on Sunday December 25, 2022 @08:04AM
(#34126900)
If I'm using AWS I definitely care about the stock price since if it goes to zero I'm gonna have to find a new cloud. Also I have to buy shares to run my program, apparently.
You are not supposed to buy ETH as a way to speculate on its price.
ETH is a resource used to represent processing and storage power. You can think of it as "AWS credits" that you can buy and use to run programs.
The absolute price of ETH is of no interest. The only meaningful number that you should care about is "what is the gas price compared to the ETH price", as in, "how expensive is it to access decentralized computing".
Speculating on ETH value is an investment strategy that is completely separate for ETH utility. People interested in the latter shouldn't care about the former. Just as people using AWS shouldn't really care about AWS stock price.