"pointing out that it might make ETH, the network's native token, deflationary."
Isn't deflation basically the whole point now? Anyone who buys crypto with the expectation of its price going up is essentially betting on deflation. That's what economists predicted when bitcoin launched and it seems to have held up. Most crypto (certainly BTC and ETH) have no intrinsic value. They pay no dividends, offer no equity. They are described as currency, not assets. So price fluctuations must be explained in terms of inflation and deflation. Rising price is deflation.
Isn't deflation basically the whole point now? Anyone who buys crypto with the expectation of its price going up is essentially betting on deflation. That's what economists predicted when bitcoin launched and it seems to have held up. Most crypto (certainly BTC and ETH) have no intrinsic value. They pay no dividends, offer no equity. They are described as currency, not assets. So price fluctuations must be explained in terms of inflation and deflation. Rising price is deflation.