The Perils of Speculation in Blockchain for people that are really using them
Most guys of the crypto community are betting on higher prices without any knowledge about what this really means for the networks under the hood.
As an Ethereum-developer, my profit is the bigger as the lower Gas fees are because I have to spent less money in order to deploy my smart contracts on Chain and in order to interact with them.
As a “real customer” of Ethereum (which means here “Ethereum as a platform, as an operating resource”) we need modest Gas fees in order to be profitable. The same applies for all our clients that are running parts of their business and parts of their infrastructure on-chain.
Putting this in perspective, we have 2 distinct groups: those who are mainly looking to the crypto market as a playground for stock prices and quick riches. On the other hand, we have those who REALLY use the platforms as a service and engage in some way with Blockchain, which is what they were originally designed for.
These two sides do not get along in the long run! Without real-world use-cases and without those for whom Blockchain is part of their technical infrastructure, there is no reason to speculate on price without bold, empty bets.
But otherwise, speculation and high volatility makes daily business on Blockchain as an infrastructure difficult to calculate and even difficult to remain in operation. Ethereum is the best example of this.
I am pretty sure that medium-term something big must change here, for instance a de-coupling of speculation on the one hand and fees on the other hand. Another option could rely on alternate or side-chains that are more independent by design.