Why invest in ether if it's gas and not currency
>>1073073
http://youtu.be/j23HnORQXvs
if ether is paid to use the system as a gas, it could never become too expensive or no one would use it, unlike bitcoin which is only used as currency value. wouldnt it be wiser to instead invest in ethereum dapps?
>>1073096
Thats not how it works. In the ethereum code something called "gas" is used to run code. The price of "gas" relative to ETH is set by miner consensus.
In this way, whatever the price of ETH, the code will cost the same because it depends on the price of gas which gears down the amount of ETH burned by the code.
okay, I understand. thanks for clearing that up
>>1073103
Similar to the gears on a bicycle. If ETH price is high, "gas" becomes cheaper relative to ETH. So it's like selecting a lower gear to go uphill.
All this is handled in a decentralised way through market forces and miner consensus. So there is no one person actually at the controls setting the price of "gas" relative to "eth".
The system is designed to be byzantine fault tolerant. Really quite clever when you think about it.
