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The Capital Assets of Ether
John Defterios: All of the area of contention is contained inside of this vertical. The capital asset nature of Ether that you think we could understand Ether better if we understood it in a different framework. He says there are two popular arguments, I disagree with both of them. But yes, he would say that everything is income to it. Whether it's base fees, priority fees, or any MEV that occurs to validators.