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  "title": "Daily General Discussion - September 16, 2022 : ethfinance",
  "note": "Interesting framing on how [EIP-1559](https://eips.ethereum.org/EIPS/eip-1559) turned Ethereum from a currency into a commodity. \n\n> EIP-1559 made the Ethereum Virtual Machine (EVM) hungry, in order for the EVM to do its work it needs to be fed. Like a cattle is fed corn (a commodity), a furnace is fed fuel (a commodity), a tree is fed with fertilizer (a commodity) or a mathematician is fed with coffee (a commodity). The EVM is fed with ETH and the ETH used gets consumed/spent/burnt.\n\nI've heard EIP-1559 touted in many ways, mostly that it is deflationary. In the first 24 hours after it launched 4,700 Ether were burned, and [according to Etherchain](https://etherchain.org/burn) 2,632,172 ETH have been burned thus far, or $3,512,766,660.92 at todays price.\n\nThis view though is a different look. The analogy of staking being like farming is even interesting. 🤔",
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