The idea that there is no “real” intrinsic yield at 100% ETH staked is wrong. It confuses “inflation” of the supply with price inflation. Those are correlated but not 1:1 - just look at US dollar. If all ETH holders get the same reward we still win vs the rest of the world because FX with fiat is what matters
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An under appreciated fact about scalability is that if costs in the network don’t come down, centralized intermediaries will arise to internalize costs. This happens in TradFi all the time. Low scale —> Centralization
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Blockchain is a continuation of the trends we’ve seen in Uber, AirBnB, Amazon etc. Trust is moving from individual service providers to networks of new service providers. For money, trust in individual banks can be replaced with trust in a blockchain network.
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