NGU is a result of the fundamentals. The fundamentals are brilliant so therefore NGU.
If there is no NGU, it suggests there's a problem, or perceived problem with the fundamentals.
It's why I've been against ETFs and nation-state adoption... It does not require them.
Greedy fucks have been wanting nation-state adoption to pump their bags without thinking of the possible deleterious effects on the free market pricing and NGU.
NGU is a fiat measurement that primarily measures speculative interest among Cantillionaires.
USD all time highs with empty mempools are bad acktualy
So if the monetary base of Fiat currencies expands by 20% in the next 4 years. However Bitcoin is only up 10% in the next 10 years, would you be happy?
I agree it is not good for the mempool to be empty at ATH.
This is another reason why NGU is important to the security of the network. Specifically because power costs are denominated in fiat. Block rewards are important for miners to cover this.
theres a lot of power securing the network. we dont particularly need more ngu to make miners happy.
I don't care what USD price bitcoin is at in 10 years.
