Topic: If ETH is a commodity like Gas what happens when it gets too expensive? - page 2. (Read 835 times)
March 05, 2016, 12:58:33 PM
Correct me if I am wrong, but isn't the minimum cost of running code on the EVM 5 Ether. Thats currently over $50 at the current Ether price. Since ethereum was meant to provide a platform for decentralized applications, I don't find it at all surprising that ETH's price will behave like a commodity. High ethereum economic growth should drive ETH prices up, likewise when ETH gets to expensive, just like real gas, this discourages economic activity and demand should fall. Right now it would appear that we are at a peak in the ETH price. My main question is will the minimum Gas Price become variable based on the exchange rate, because if it is not, the high cost of deployment could discourage many business from developing on the EVM.
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