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So are we just moving on from the whole ‘World Computer’ narrative now?

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So are we just moving on from the whole ‘World Computer’ narrative now?

Less than a year ago, the Ethereum Foundation was heavily pushing the “World Computer” narrative. Now Vitalik is arguing that ETH as a store of value makes significantly more sense to focus on than ETH as a fee burning token. At what point do we acknowledge that Ethereum seems to be struggling with its own identity? For years, the argument was that adoption, network activity, and fee burning would strengthen ETH’s economic value. Now that this thesis looks increasingly questionable, we’re shifting the emphasis toward being a store of value? It feels less like a coherent long term strategy and more like constantly repositioning the narrative.

What exactly is Ethereum trying to be at this point? If its ambition is to become the World Computer, why is its cofounder downplaying one of the primary mechanisms connecting network usage to token value? And if ETH is now supposed to compete as a store of value, what compelling advantage does it offer over Bitcoin? You can’t just keep changing the investment thesis whenever the previous one becomes difficult to defend. At some point, the community should demand a consistent explanation of what actually drives ETH’s value rather than accepting whatever narrative happens to be convenient.

pateikė /u/Sassy_Allen
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