ETHEUR
Ethereum / Euro
crypto Composite

> Still have seen zero compelling responses to David Hoffman’s critiques of ETH’s nonexistent value accrual mechanism.
Fees are currently tiny because the network's capacity has increased faster than demand. This is just temporary, and to be honest I struggle to believe that Hoffman doesn't understand that.
The transaction fee is primarily a tool to reduce congestion, when there isn't enough 'space' for all the transactions being submitted then the base fee automatically increases to disincentivize low value transactions, reducing the network load. If there is plenty of 'space' available then the base fee drops to a minimal amount so that the highest number of users can afford to use the chain.
> Get angrier. Demand protocol level changes that optimize for ETH value.
Getting angry about the current burn rate is like getting angry at your government for building more infrastructure to futureproof the transport links or water supply or whatever.
> This whole thing goes to shit if number doesn’t go up.
Demand for blockspace has never stopped increasing and we know that as more and more of tradfi builds on Ethereum this trend will continue. Larry Fink was talking at Davos this year about bringing the entire financial system onto 'one common blockchain' and has since then Blackrock have announced two more RWA tokenization projects, built on Ethereum L1.
At some point the demand for gas will again exceed the capacity and the network will again burn lots of ETH through increased base fees. The asset will again become deflationary, and the concern trolls will switch again to complaining that fees are too high.

As someone new to ETH...when is this going to happen? lol

I'm thinking about trying [fortisx.fi](http://fortisx.fi) but why is the APY% so high? Like for SOL it's \~22.05%, BTC is \~17.5%, and ETH is \~20.28%. What's the catch, other than Defi hacks and such? Seems like a no-brainer otherwise.