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Lark Davis Shared: Ethereum burning 6.29 ETH a minute, almost 1.2 million ETH Burnt.
Community Response: Is this correct? Maybe this is what the future of bitcoin will look like.
$ETH is really undervalued brother. Have you used eth to buy a $20 NFT? You know how much the gas fee was? $57. Total of $77 to get a $20 NFT. That’s going to work in the future?
Wow. Always been a Fan of ETH. Doubters who cry about fees will be left ‘behind’.
How is it even useable when it cost $200 to move $100? That’s total bull shit. Only heavy smart contracts cost that much LMAO. Just moved my ETH for a few bucks.
Also, you still reap the benefits of ETH expansion when you’re on L2s, if you can’t fork out the fees just withdraw from a CEX straight into an L2, it’s really not hard.
Looks pretty solid for a PoW layer 1 blockchain. Didn’t know UFO teamed up with them too. With a 1.6B market cap, it’s got plenty of room for 3-5 times in this cycle especially at this entry point. Maybe put a bid in at $8.259 and look into staking it. Just my two satoshies!
Can you tell us the max supply of ETH? It’s unlimited. But there’s more ETH being burned than mined. So, does it bring the value higher? More scarce – more demand.
So, the ETH supply on coinmarketcap should decrease, no? Only if the mint rate is lower, which it is not all the time.
Yet, supply is still 118 million everyone keep playing the ‘deflationary’ card when it comes to $ETH. Wish they could burn my ridiculous gas fees. I wonder if you also know the answer to why it’s important.
Whose ETH are they burning? I am not sure either, but something has to be sacrificed.
Irrelevant, how much ETH has been burned unless you say how much has been created over same span of time. Seriously, these posts are as misleading and irrelevant as a business saying it made $2 Trillion this year, but fails to point out that was before their $2.4 Trillion in expenses.
Still not deflationary, but less inflationary. After 2.0 we will experience %2.2 deflation every year.
We need to know how much Ethereum burns on average every day? This will affect the price of ETH. What do you think? Where can we see burned block transactions for the same? But without ETH 2.0, soon the Ethereum Network will be flipped by other L1 players.
I hope June 2022 sees the Merge because heaven knows the delays are getting annoying.
Who cares, it’s pre-mined and has a foundation who always sold at the local top.
And still, the chain is not for those that want to make a 5$ transaction. Yes, and ETH gas keeps burning our ETH. You brought us very useful news. I approve of you very much. It’s not like some people spread rumors every day.
Where are funds for burning ETH allocated? Don’t worry miners are mining nonstop, unlimited supply.
Come on, LUNA burns more than ETH per day. In 1 year, already burnt more than 100mn LUNA has been burnt. In 3 days more than 1.6 million LUNA. Not even close to all the Ethereum hacked.
How much is being mined every minute? Then, what is the net total? Why burn it just send it to my wallet instead. But how much are they mining to replace the burnt ETH? LUNA burning that amount in a day, let that sink.
