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Vitalik Buterin of Ethereum recently commented on the maximum offer of ETH, stating that the current issuance program is about 4.7 million per year for the next 1-2 years, or in any case the time required for the merger. After the same, it would be 0-2 million per year minus the fees burned which could be greater than the issuance once the POS is fully operational, he added.
However, Buterin’s statements were met with criticism from some, many of whom argued that ETH was taking the stance of “printing until it takes”. The aforementioned criticism was just the latest salvo in the debate over the lack of an upper limit for ETH, with the 21 million Bitcoin limit often used to argue against those who support Ethereum.
In fact, Bitcoin maximalists have often been among the first to contest, with BTC supporters like Anthony Pompliano once tweeting to refer to ETH as “ bad money ”.
The Ethereum community cannot understand what the total pending offering of the asset is.
This is a MAIN problem and it shows why ETH is not good money.
I’ll explain on Monday morning.
Sign up: https://t.co/29uk453dzh
– Pump 🌪 (@APompliano) 8 August 2020
However, how Ryan Watkins di Messari was quick to point out that ETH has gone from being a piggy bank for ICOs to a thriving digital economy.
When looking at the growth and maturity of the DeFi ecosystem, with multiple projects choosing to build on the Ethereum blockchain, despite high gas tariffs, Ethereum’s usefulness is clearly not solely tied to the scarcity of its offering or its lack.
However, as EIP1559 suggests, Ethereum will soon undergo a significant monetary policy change with the introduction of a deflationary mechanism in ETH, and this will mean a large-scale transformation. According to Buterin,
“Realistically, for the next 2 years, Ethereum will be a rapidly changing ecosystem.”
However, many argue that such transformation must go hand in hand with progress, and the latter has been slow, especially since the stake in the deposit agreement has been slower than expected, despite the support of the community supporting Buterin and the team. development of Ethereum.
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