Weekly Action Recap
The U.S. economy is printing money. The Ethereum economy is starting to burn it.
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Dear Bankless Nation,
Biden officially passed another $1.9T COVID stimulus bill this week.
That’s another $1,400 for millions of Americans and trillions of dollars flooding the global economy. We’re not here to say whether it’s good or it’s bad, only that it’s happening.
The money printer is firing and there’s few signs it’ll stop anytime soon—this is an inevitable part of a late stage fiat debt cycle.
In the same week, EIP 1559 was accepted into London upgrade. Ethereum’s about to receive one of its biggest crypto economic upgrades this summer, translating to better transaction UX, more efficient fee markets, and of course, burning ETH.
Contrast this: the U.S. economy is printing money, the Ethereum economy is burning it. And which of these economies do you think will grow faster this decade?
Where would you rather hold your wealth?
And if all that’s not enough—NFTs made the front page again. Beeple just sold the third most valuable piece by any living artist. Ever.
Can next week top this week? We’ll see.
Here’s what’s lined up:
Podcast with the big brains behind 1confirmation (early access here)
William is going to share some tips on how to value NFTs
Let’s get to the recap.
Recap for the week of March 8th, 2021
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