What did Vitalik say, and why is Ethereum worth existing? What will determine Ethereum's future price increase? 1️⃣ The long-term value of Ethereum:native should not rely on transaction fee burning, as burning revenue is cyclical and cannot form a reliable value foundation. 2️⃣ Ethereum's biggest competitive advantages are decentralization, censorship resistance, security, and long-term stability. These core principles should not be sacrificed to increase revenue. 3️⃣ ETH should become a store of value in the digital world, building value based on long-term trust and real-world usage demand, not on short-term deflationary narratives. I largely agree with Vitalik's thinking. When evaluating ETH, we shouldn't only look at transaction fees, burning volume, and deflation rate, but also whether it can become a long-term trusted and held asset. If Ethereum is to become everyone's core financial asset, it must achieve trust and security. Currently, the most troublesome issue is that a thriving Ethereum ecosystem does not necessarily mean ETH will appreciate in value. The key is whether the value created by the network can be transformed into sustained demand for ETH holdings. From this perspective, I agree with Vitalik's approach.