💰 [Analysis] A thread on Ethereum economic abstraction – Eric Conner

Ethereum economic abstraction theory states that users could pay their transaction costs to miners in something other than the native token, therefore if that becomes rampant the native token has no value. This is false as:

• It is irrational for a user to do this as it adds friction and is a UX nightmare
• Users will need to pay extra transaction fees to do this
• Calculating gas costs with multiple tokens becomes incredibly complicated
• Miners will likely not want to hold multiple different tokens
• The value of ETH doesn't come entirely from gas fee especially with the introduction of PoS