jakiro
Written by: 0xjs@Bitchain Vision
On September 7, 2025, Messari analyst Avg Joes pointed out from the Ethereum network revenue indicator that Ethereum is in decline.
Even though ETH hit a new high in August, Ethereum’s revenue in August was only $39.2 million.Specifically: 75% lower than in August 23 (US$157.4 million); 40% lower than in August 24 (US$64.8 million); the fourth lowest monthly income since January 21.
Bankless David Hoffman replied in Avg Joes’ post:
Have we forgotten what we want to do?We created this technology, since the emergence of churches, monarchies, nation-states with tanks, guns and fighters… Finally, for the first time in history, we can finally create currencies created by the people and serve the people… and we are judging these things as if they are merely profit-based technology platforms.
These things are cryptocurrencies and should be judged like this.
Ethereum is the fastest growing emerging economy on the planet.Ethereum’s economic model is similar to that of early Singapore or Shenzhen, where it has complete business freedom rather than focusing on taxation on centralized power.
David Hoffman probably expressed his feelings.On September 6, the day before his reply, David Hoffman personally wrote an article on Bankless that the Ethereum project itself is not just an ETH asset, but also a system that allows humans to unite and collaborate in unprecedented ways.But unfortunately, people choose not to support Ethereum.Many people focus on demolishing Ethereum as soon as possible—because if they can invest in stripping valuable components from Ethereum’s open source superstructure, they can become super rich.
David Hoffman’s full text is as follows:
I stumbled upon a stupid but funny tweet the other day.
The idea is that if we all coordinate around the same asset, buy it, and raise its price infinitely, we can all use it as collateral to lend.Unlimited money loopholes!
I also like the reply to this tweet.“It’s called Bitcoin.” “This is Bitcoin.”
The subtext is that Bitcoin is the first asset owned by the people and serves the people. We can all buy it, never sell it, and live on its profits.The reason why Bitcoin can work is because Bitcoin is a Sherling point of asset.Bitcoin is an asset you will never sell.Bitcoin is more than just an asset – it is the asset itself.
Obviously, this belief has a limited scale, butIt expresses very well what Bitcoin wants to be.
A similar phenomenon also happens in Ethereum, but it’s more about the Ethereum project itself than the ETH asset.For many Ethereum users, including me, Ethereum is more than just a project that requires effort.
Ethereum is such a project.
Ethereum is a coordinated project for humans.It is an open source collection of all economically valuable code.It is the superstructure that creates wealth, which we can pass on to our descendants.It is a system that allows humanity to unite and collaborate in ways that have never been possible.It is an unprecedented way to achieve global peace, wealth and happiness.
If we can bring all mankind into the same coordination layer, mankind can take a step forward.
These are grand ideas, but I believe them with all my heart.The outcomes of peace, abundance and happiness are not five-year plans, but a fifty-year project.They do not originate from the birth of several excellent smart contracts, but from the second and third-order effects of 5,000 excellent smart contracts.
If we can all coordinate around Ethereum as the Earth’s trusted neutral financial structure, we can do more things faster.
but,Just as not everyone can support Bitcoin as an asset, unfortunately people choose not to support Ethereum as a project.
In fact,Many people seem to focus on unbuilding Ethereum as soon as possible (Note: David Hoffman named Multicoin Capital here, and Multicoin Kyle Samani once posted a post “Unbind Ethereum”) – Because if they can invest in something that strips valuable components from Ethereum’s open source superstructure, they can become super rich.
Ethereum demolition is a political tendency.Just as Bitcoin fans love Auspicious economics, guns and meat, Ethereum demolitionists have similar character traits (all of us!).Some people are born to choose to “defect” in the dilemma of prisoners.
Whether you think the Ethereum community is “self-righteous” and “actually no different from XRP childcare” depends on whether you think Ethereum is a human project.
My claim is: If Bitcoin becomes a special snowflake because of its 21 million supply, then Ethereum is also a special snowflake because it represents: an endless open source contribution project aimed at creating the greatest coordination software of mankind.
What else is more noble than this?
