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The result of World War II was fundamentally determined by access to oil.
So in the final stages of the war, the resource was that Nazi Germany resorted to extraordinary measures to maintain basic mobility – four at a time, pulling trucks by bulls.
The oil position for the empiral Japan forces was equally severe. Daniel Yurgin’s Pulitzer Award winning book awardHe documented how Japanese Suicidal The suicidal pilots will fill their tanks only in half the way as they were not to return from their mission.
The forces of both Nazi Germany and Imperial Japan were not defeated for manpower or lack of arms, but because they ran out of oil.
The permanent heritage of oil in the history of the most deadly struggle in human history continues during contemporary thinking and rebirth.
For example, “Data is new oil“The rally of Big Tech Critics is crying when they struggle for strong rules of technology companies.
Whether or not they do it unknowingly, the metaphor draws a parallel between the historical importance of oil and the emerging value of data in the digital economy.
That analogy has also allowed crypto, evident in our use of words like “gas” and “burn”.
Completely channeling that meme is the “The Bull Case for Eth” report of the last week that is a co-writer by the top atherium stakeholders.
In the report, Eth has been estimated at the price of $ 8K per eth ($ 1 trillion market cap) in the short term.
Long-term Moon Mathematics moves even further: Eth $ 85 trillion assets $ 706k per Eth- A theft at today’s prices!
Source: Echidijitiloil
The part of this valuation model benchmark is Eth against today’s $ 85 trillion oil market valuation.
But the case is more complicated as “digital oil” for ETH.
For one, unlike real forces, the heaviest gas of ETH has cheap options in Gujler.
Etharium’s largest Gas Historically uniswap and tether. Both are actively extending their execution on the more gas-unfyled environment (unichene and plasma).
Although the plasma is not yet alive, and Unichain is still in its early days, it greatly weakens the case as “digital oil” for Eth.
What about data availability?
The largest eth-deenominded bill for L2S is the cost of using Ethereum Da, ie publishing its raw transaction data in L1.
Before the onset of Blob Space with EIP-4844, the cost of 1 KB call data will be around 16,000 gas, or approximately $ 1.44 (consuming eth at $ 3000).
It is a non-batch of 80–90% of a specific L2 fee.
The EIP-4844 Ligacy Call Data brought the cost below ~ 99%, yet it is still cheaper by ~ 20-30x if rollups use alternative-DA layers such as Celestia or Eigenda.
The ETH as the “digital oil” thesis moves further when you believe that the atherium itself faces competition from L1.
If the atherium can claim its basic property as “digital oil”, then the solana, needle and every other ecosystem can.
Yes, the Etharium is the largest crypto economy and the second largest crypto property. But the Atherium economy is not so far ahead of its peers that ETH oil will have the same effect that oils.
The entire analogy of ETH as “digital oil” rests on the unstable premises.
Eth can be very well a global reserve property, but remember that it will be difficult for institutional investors to swallow existence.
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