π₯ Vitalik doesn't know the current supply of Ethereum!
Hello!
Like every day, I was reading twitter and I have come across some interesting tweets from Vitalik Buterin (Founder of Ethereum), the 2nd cryptocurrency by market cap.
People on twitter have long been pressuring Vitalik to comment on what the maximum Ethereum supply is. Since there is no maximum supply, people tend to say that Ethereum's supply is infinite and therefore its value will tend to 0 over time.
People tend to compare Bitcoin, with a total supply of 21,000,000 to Ethereum, without a given total supply. I have been able to read many comments with a sarcastic tone on the subject, and some of Vitalik's answers are not very convincing.
For example, this one:
But... If it is that hard to calculate the current supply of Ethereum, we have to trust that the tracking websites are showing correct data? I will assume so.
What is the TOTAL supply of Ethereum?
Nobody can say it precisely enough. However there is a tweet published by Vitalik today that showed some useful information.
He basically wrote:
I love how people have been so awkwardly trying to press ethereum on its lack of a preset "21 million"-like hard cap, when transaction fees the past 2 months have been high enough to more than fully cancel out PoS rewards post-EIP 1559.
So... with the current transaction fees of Ethereum we will be able to cancel more than the PoS rewards that are going to be distributed after the Ethereum 2.0 launch.
From one part I am happy, because I was wondering how were going to be paid that rewards to the people staking... but from the other part, should we be happy to have such a really "high-fees-blockchain"?
I don't think so. By the way, here you have the chart:
Enjoy! π
