Big cakes are digital gold that can be hoarded, while Ethereum is an endless supply that can never be bought. Seemingly rational neutrality, it is actually unreasonable. Lower your head and don't just focus on superficial concepts. Fixed quantity is fixed quantity, inflation is inflation. It's not a concept. Infinite quantity is infinite quantity, but it can cause inflation or deflation. The specific level of inflation needs to be analyzed in detail, rather than thinking that inflation is too high and cannot be bought out just because of an infinite quantity. Big cakes are fixed in quantity, not without inflation. Without inflation, how can you ensure network security? Are miners really generating electricity for love by not selling? Ethereum has unlimited issuance, but how has inflation been in the past few years? It is said that POS is the original sin, but the inflation rate of Ethereum after POS conversion has decreased significantly. If it were still POW, the annual inflation rate of Ethereum in the past two years would be over 3%, while after POS conversion, the inflation rate of Ethereum in the past two years was only 0.113%. The flatbread inflation during the same period was at a level of 1.3%, which is ten times higher than Ethereum. Even though the Ethereum ecosystem is in decline and gas prices continue to be sluggish, the inflation level of Ethereum in the past 30 days is comparable to last year's halving, and even lower, both less than 1%. If even Ethereum reserves cannot be bought out, can gold reserves and US dollars reserves be bought out? Of course, I don't think unlimited quantity is a good thing either. The future is long, and no one knows what will happen. Perhaps no one will use Ethereum in the future, but the staking ratio is high. In the end, all the newly issued Ethereum will be consumed by the big players, and the entire ecosystem may fall into a death spiral. So the pressure on Ethereum is definitely greater than on the big pie, but investment and reserves may not be able to think so far ahead, or in other words, the listed companies that reserve Ethereum and the companies that reserve the big pie have different cycles of consideration. At least in the next three to five years, there is no need to be so concerned about inflation when reserving Ethereum. If the reserved Ethereum is still pledged or stored in DEFI, it can even generate relatively stable cash flow. Of course, this is not the focus of storing Ethereum, the key is still the price of Ethereum. In this context of price fluctuations, inflation is definitely not the main consideration factor. After all, even if you make a profit from pledging, a 5% annual drop in price will ultimately result in a loss. The most important factor in reserving Ethereum is whether Ethereum can stabilize its price, whether there will be better development in the future, whether there will be more stablecoins issued on Ethereum, whether it can support more and more on chain finance, whether it can continuously ensure the level of decentralization, whether it can continue to expand and allow more people to enjoy a cheap and fast user experience, whether it can attract more projects to develop on it, and always maintain a relatively prosperous ecosystem.