Add as a preferred source on GoogleJoseph Lubin Says Ether (ETH) Could Serve as a Store of Value
He cited Ether’s use as collateral, its programmability and its role in Ethereum’s financial ecosystem. Vitalik Buterin made a related argument on Nov. 8.
Ethereum co-founder Joseph Lubin argued Nov. 11 that Ether (ETH) could serve as a store of value, saying its use as collateral and role in Ethereum’s financial ecosystem support a monetary case beyond Bitcoin and gold.
“Gold and BTC are high-powered money and excellent stores of value. ETH goes further,” Lubin wrote. He pointed to ETH’s programmability, use as collateral and place in Ethereum’s financial ecosystem. He made the case against a backdrop of high inflation and extreme economic and social volatility he expects.
Fellow Ethereum co-founder Vitalik Buterin made a related argument Nov. 8. He said Ether’s monetary role should carry more weight than fee burning as a source of value, while supporting retention of EIP-1559. Buterin’s earlier discussion of ETH’s monetary role covered that argument.
EIP-1559 burns Ethereum transaction base fees, but does not set a fixed ETH supply. Validators receive newly issued ETH, while the amount burned varies; the balance between issuance and burning determines whether supply grows or shrinks.