Reddit discussion by vbuterin: https://amp.reddit.com/r/ethereum/comments/mjvh4z/improving_eip_1559_by_making_it_work_more_like_an/
Vitalik’s blogpost: https://ethresear.ch/t/make-eip-1559-more-like-an-amm-curve/9082
To my understanding, exponentially more ETH will be burned in this “version 2” EIP-1559.
Very bullish, and this is one major reason why I think ETH actually has good chance of beating BTC at its own game of being “store of value”.
Basically, whatever BTC’s inflation rate is (nonzero until year 2140 due to mining), ETH can always match it if it wants to, via these burning mechanisms.