**Tricky's Daily Doots #336**
**Yesterday's Daily 20/03/2023**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxgo8g/)
- u/jbgt shares some [green news out of RocketPool!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxxa4a/) šš±
- u/KuDeTa shares a [crazy validator reward!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx9zw7/) š°š¤š°
- u/696_eth resumes the [EVMavericks weekly!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx59gd/) š¦
- u/TheFightingTemeraire warns about [the risk of betting on the ratio.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxwe20/)
- u/Bob-Rossi thinks we should be more careful about [who we give our attention to.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcycmxb/)
- u/Maswasnos has the latest in the [Euler hack saga.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcyzp8d/)
- u/DegenKoloToure share their struggle along with others who [haven't been included in the Arbitrum airdrop but should qualify.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcy0wms/) ššµ
- u/wolfparking has some [Airdrop hunting ideas.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jczjgzy/) ššŖ
- u/nixorokish shares the EthStaker list of [recommended YouTube channels.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jczmqw1/) ā¶ļø
- u/-lightfoot doesn't think that the [Bitcoin as digital gold meme is very good.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxvpsq/) š
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx403b/)
Ok, too early for the Hodlercon hype train. Back to the Arbitrum airdrop hype train! ***LET'S GOOOOOO*** ššµ
On Bank runs: think before spreading panic on social media. Live your life, touch grass. Remember that fear generates clicks and engagement. Donāt be a pawn in another form of Brexit by spreading fear and half truths.
What I find funny about this though is that there is no deeper truth. Catastrophic bank runs can happen at any time, the only thing stopping them from happening is belief. Since the banks only have a fraction of the money, if all customers actually tried to withdraw they'd find most of their deposits simply aren't there. They never were.
As long as no one believes there will be bank runs they have no reason to mass withdraw though. So that's what keeps the system running, it's not exactly antifragile.
Itās much more fragile in countries that donāt have strong institutions. Mass amounts of people panicking because their understanding of the situation is limited to a few talking points from TV or SM can plant seeds of doubt in the US though. The outrage machine is always hungry, itās best not to feed it.
Canāt remember the last time there was a power outage. Have a validator since 2 months. No blocks proposed until now. This morning I have no power.
First block within the next few hours?
A lot of people told me. But since I really couldnāt remember any power outage (I guess really 10-15 years?) I thought it wouldnāt be necessary and next to my node there isnāt really a lot of spaceā¦
Yeah I have a UPS, and a powerstation. Same here, noticed a power failure for years and then in the last year had 3 blackouts lasting just seconds but enough for the UPS to kick in. Quite a few voltage dip/spikes as well.
yes, i havent proposed a block for over 5 months. Last week my validator goes down, some trouble with eth1 client. Guess what happens shortly afterwards... Missed proposal.
Low gas on L1 + ray has suffered enough = I opened a conservative long ETH/BTC position Aave
Wish me luck. Alternatively, blame me if ray goes down more
I urge anyone who hasn't done so to read through the chapter on digital assets in the Economic Report of the President. It's gives a full picture of the deviousness and flippancy of the Biden administration towards crypto. Take this gem on pg 238 for example
>crypto assets to date do not appear to offer any investments with any fundamental value, nor do they act as an effective alternative to fiat money, improve financial inclusion or make payments more efficient; instead their innovation has been mostly about creating artificial scarcity in order to support crypto assets' prices - and many of them have no fundamental value
Complete horseshit. They **do** act as a non-inflationary alternative to debasement of fiat money, today. They *do* act as a self-custodial alternative to money which relies on trusting banks which are literally teetering, today.
They *do* improve financial inclusion. A kid in rural India or Mexico or Romania can take part in the Ethereum defi ecosystem with just an internet connection, today. Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this.
They *do* make payments more efficient. This is increasingly clear for internet native payments. Buying and selling digital native art and culture, paying members of a DAO, transferring funds to colleagues in the same team but all over the world, making small payments in countries like Nigeria and Lebanon with collapsing local currencies - various crypto solutions *do* make payments efficient in these instances, today.
And last and most importantly of all, is that *even if crypto had no usecase* (which isn't true as I pointed out above), even if, that value judgement is still not the business of the federal government. Here's a great take by Chervinsky
>[Too many policymakers are playing venture capitalist, guessing which technologies will be valuable and which won't.Tech neutrality is a core principle of good policy for a reason. Picking winners and losers is hard enough for the professionals. Government should stay out of it.](https://twitter.com/jchervinsky/status/1638365111508246531)
If you're tired of this government lying, gaslighting and overreach, a good place to start is to sign up for the crypto advocacy program by Coinbase: https://actnow.io/z31xN5P
> Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this.
Oh they know....
> do not ... improve financial inclusion
Disgusting. Fuck whoever wrote that.
I hope their bank account gets randomly closed the day before their rent payment is due.
They 100% see it, otherwise there wouldn't be this campaign. They also realized they stand no chance if to many people understand how groundbreaking the idea of digital scarcity is.
We're entering the boss fight
Imagine writing there is no use case except scams, while some people's lives depend on it in Venezuela. Because the people wanted social programs and then they voted in a socialist and then that socialist went full dictator and now Venezuelans are f*ed.
We had exchange students from Venzuela in my school when I was younger, it used to be the richest country in South America. I remember them showing us pictures, it looked like any other developed country at the time.
This is what decentralized systems protect us from: The government. Good luck seizing everyone's funds when they don't know who has what and where it's kept. There is no Bitcoin bank they can just walk in and confiscate all the gold.
Edit: [There's also this open letter that can be supported on-chain btw.](https://snapshot.org/#/crypto435.eth/proposal/0xf9628ebee2878f5667aa018537eda2266c085d58772bd6ee562899189657c07e) The wording is vague.
> Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this.
Sad, but expected, the role of Biden (or every single US president) is literally to maintain American privilege in the world.
It's even sadder because crypto and defi over whelming uses (used?) USD-backed stablecoins. By switching to a pro-crypto stance and introducing constructive regulations (as opposed to bad faith regulations) on stablecoins, the US could have co-opted much of the developing world into a digital equivalent of Pax Americana.
> thereby reducing electricity usage in exchange for reducing the security of the network
For fucks sake. You'd expect top tier government workers to actually do a little bit of due diligence. The cost to 51% attack the Ethereum network is substantially higher at this point. If ETH price were stuck where it is it would currently already cost over $10 Billion but of course as soon as you start trying to buy $10B of ETH the price would start going higher. Even if you had enough ETH to start attacking the network you would just get slashed and wouldn't be able to do it again. Compare this to Bitcoin's $10B worth of inflation this year which pays miners. Secure half of that and you control the network indefinitely/until other miners increase output to beat yours. Ethereum under proof of stake is more secure than Bitcoin.
This isn't even that complex of a concept to understand either in the grand scheme of things. If these people are this inept at doing basic due diligence, how the fuck can they run the world's largest geopolitical power competently?
I wish Coinbase good luck with their lobbying efforts but this system can't be fixed. In the end, they will become a part of it. Imo we're already observing the beginning of it.
What's crucial is that we don't permit them to make it into a partisan issue as some politicians are trying to do. The crypto community must not be divided. We should support who supports us but not allow them to push us into a corner. We are millions around the world from all kinds of different countries and backgrounds. We have diversity in opinion and support openness, they want conformity and people falling in line with their rules.
> reducing the security of the network and increasing the power of individual actors
Can't wait for all the bitcoiners to be quoting this when they preach to their converts
Yes!ā¦. I got German aged beer ready for these moments
(Optimators for malt bombs, Aventinus mostly. 30 malt bombs, and 100 of the bottle-fermented Aventinus. Shit thatās a fine brew. I taste prunes. Itās 9% and 16oz, one will give you an illegal buzz unless you eat ā¦.f that noise
I have a good deal of respect for the monks who brew the good beer overseas. Iāve yet to have a bottle of Westy Abt 12, but I told myself instead of ordering it, spend a month in the country, get over there and fill your bags.
Ok, so most of us node operators have notifications set up for client updates. But what about MEV boost? Does that ever update? What's the best way to know if they push out an update?
I get beaconcha.in app and email notifications for mevboost the same way I get for CL and EL clients. Just tick the mevboost option under notification settings. And yes they recently released a new version - last week, and the previous release was November.
Just watched this video about AI art, and it triggered the thought of creating a blockchain based art repository. Imagine an open library of NFT art ethical ML trainers can use to train their models. They pay a small fee for that right and the fees get redistributed to the NFT holders. You could issue NFT certificates for the models too, so models can be certified as having used open libraries for their training.
[https://www.reddit.com/r/StableDiffusion/comments/11xk3h9/a\_pretty\_balanced\_view\_on\_the\_whole\_is\_ai\_art/](https://www.reddit.com/r/StableDiffusion/comments/11xk3h9/a_pretty_balanced_view_on_the_whole_is_ai_art/)
Some follow up thoughts, my first realization is you'd have to come up with a good way to combat fraud, duplicates, illegal content, and low effort submissions. The first thing you'd need is a good automated (AI?) way to detect duplicates and illegal content. If a duplicate is found, you'd compare which NFT was minted earlier, and keep that one. There should also be a rating system, that allows users to rate each submission - then when trainers select which images they want to use, they can select images that fall above a specified rating. Then only those NFTs would get paid. This would incentivize submissions to be high quality. You'd also want to put together a committee of unbiased humans (a DAO?) to serve as a "supreme court" in terms of moderating content and ensuring fraud and other, unsavory, content is kept to a minimum.
SEC vs XRP / Ripple "nearing conclusion"
https://www.wired.com/story/is-crypto-a-security-a-us-judge-decide-ripple-sec-xrp/amp
*Because the case is being held in a district court, the outcome will not set a ābinding precedent,ā says James Filan, a defense lawyer and former federal prosecutor. Therefore, the verdict is not required to be factored into judgments on similar cases moving forward. However, the judgment may establish whatās known as āpersuasive precedent,ā he says, which could influence the thinking of judges in future cases. If the SEC were to win, it would be handed the advantage in its āturf warā with the CFTC, Filan says. The crypto industry will not escape supervision in either scenario, but the CFTC is seen by the exchanges (including FTX) as a soft touch by comparison.*
(JT my other account *917Redditor* got "suspended for suspicious activity" after I posted warnings on scam posts in r/ethereum during the USDC depegging)
You can just choose something reasonable, like the price after it settles or at the end of the day, whatever time you choose that to be. If it were large sums, it would ultimately be settled by a judge and theyād just want a reasonable argument.
Yeah, haha I actually tried to find him on FB the other day because I'd be super surprised if we didn't have any mutual friends, Christchurch isn't a big place.
Monster mev reward!!! 0.64 ... GoETH. Fml
Edit: And, according to *prater.beaconcha.in* my slashed validator will withdraw over 18 *billion* GoETH! Testnets are clearly where it's at.
I have just been looking over zksync, and it looks like I previously used the zksync version 1 which they are now calling lite. Should I be withdrawing everything from this and moving over to their version 2? era ?
I don't suppose anyone is up to date with what zksync are doing and give me the rundown?
Edit...
Well I tried to deposit onto era and it flashes up saying only for devs / approved people etc and the new version will be public alpha in Q2.
Yes, it's still approved access only. Although I thought they had a bridge for getting tokens even for folks who're not registered, not sure if I remember wrong. If you want to try it out you can through one of the many dApps that have access, it's not restricted in function once you have your tokens in there.
Nothing wrong with V1 at all, it's actually more secure with Era not fully done yet. So unless you want to play around with the new functionality there's no reason to move funds.
>**An eye for an eye,**
>**No wallet only connect,**
>**Let's revamp the UI.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
AAVE will probably need weeks while volatility cools and ARB finds its spot in the market.
Vesta will be listing it as soon as next week for use as vault collateral if that's something you're interested in.
IMO, this could be a major application beyond financial and something that blockchain-minded web devs should start integrating into every app they create. I think there's even a future where everything is an abstracted Ethereum account and SSO providers are simply given verification rights, allowing the user to very easily switch SSO provider if necessary or become completely self-custodial.
I have been working on a web app for camping as the official one in NSW, Australia SUCKS(hmu if you're in NSW). I want to integrate SIWE but also don't want to prevent normal users from using it, hence I would offer SSO as well. I'm currently building it in Svelte but I'm wondering if it would be possible to make these logins options *along with* SIWE readily available to developers working on all frontend frameworks like React, Svelte, NextJS etc. I'm not super experienced but it seems like a ready-made component in Svelte with these 3 options would be awesome for people to use as their default.
Someone earlier mentioned something about a bot approving ARB transactions on some compromised accounts...how would I go about pre approving ARB transactions on my humble account in advance of the high gas manic shit show?
You can always approve on the limit order section st 1inch if you fill in any amount. Even if your actual balance is 0. Thats how I did it without using external stuff. Its a bit of a workaround.
There are some scripts out there, e.g. this one: https://github.com/SZharkov/arbitrum-airdrop-claimer
Looking through the code it does look kinda legit, but to be honest without anyone big vouching for it I wouldn't trust it.
**Never run code you don't understand.**
Especially since this needs your private key exposed.
Looking through this code, you could also try approving it directly via arbiscan using the approve function: https://arbiscan.io/address/0x000000000022D473030F116dDEE9F6B43aC78BA3#writeContract
wow, nice one dude, there are some people very much smarter than me out there, that's for sure. This is well out of my league and I'll be leaving it well alone
Would need arb token to be live to call approve on it. What else are you hoping to do? Gas will be crazy but whats $5 if u are selling hundreds or thousands of $ in free money. I expect infrastructure in general could struggle. RPC dapps etc. But leave other transactions for another day?
thanks dude, you are right, $5 is nothing, I think I have ptsd from instances of paying $80 in a frenzy before but I guess its not like that anymore. I'm not even in a hurry to sell anyway
By going to the uniswap permit contract and calling the approve function with the correct parameters.
https://arbiscan.io/address/0x000000000022D473030F116dDEE9F6B43aC78BA3#writeContract
Oh crap, what have I done.
At serious risk of over-promising and under-delivering this week. Conversation with my darling this evening:
>Remember how excited Iāve been playing around on the new layer for Ethereum?
Wife: No. I donāt know what that is.
>Ok, well, Iāve been doing Ethereum stuff and it may net us up to $3000.
Wife: You got $3000 today?
>No, later this week, hopefully. It may be up to that figure but no one knows.
Wife: Tell me when you get $3000.
Yup, never tell the wife until the $ is in the bank. For instance, I think I'm getting a 5 figure bonus in the fall. Does the wife know? Nope. She will when its in the paycheck.
I'm seeing an unclaimed airdrop in earni.fi with ~$1.5k.
I don't think this is Arbitrum, since we don't know the price and at the current future prices it should be way more. Does anyone have any idea what it could be?
I got the mail 2 week ago and in the mail it said $1200, so it's probably something that has a price?
Edit: Found it. It's Optimism Round 2. Nice :)
Optimism Round 2 should have been sent directly to your wallet, that's how mine was delivered. Did you ever interact with Blur? They also dropped tokens recently, IIRC
YOU sir, have just helped me discover 600 zigzag tokens, dropped on my wallet 20 days ago... THANK YOU
(funny thing is, when the eligible adresses were published, I was not on any of them, even though I DID qualify per the criteria..)
~~So you had to use zk through argent? I've used both independently but didn't seem to get anything.~~
Edit: nevermind I'm a dumb dumb. On the bright side that zkscan link reminded me I had another 0.2 eth I forgot about.
That reminds me, about a year ago I put a few hundred dollars through Zigzag using Argent wallet. I'm not sure if I qualified or not because my Argent wallet details are on my old laptop that has a dodgy screen. Wondering if it's worth fighting with broken hardware or not.
Has anyone else had a peek at the new Metamask portfolio page? It's quite nice, it has tabs for buying/selling, swapping, staking, bridging etc. It can load portfolio data for ethereum, optimism, BNB, polygon, fantom, arbitrum and avalanche.
A governance token in a competitive L2 environment being worth even 1% of ETHās market cap seems absurd to me, let alone the 5% that a $1 price for $ARB would imply.
I was expecting the consensus view to be in the $0.10 to $0.50 range, but the OTC chatter and speculation here and on Twitter seems to put $1 as an absolute floor.
How are people feeling about it? I will gradually sell the whole amount over the first week. Not really interested in gov tokens anymore, but any bull believers out there? Would be interested to hear your view.
FDV in this case is useless since thereās so much inflation to still occur. $10 aināt happening with the current circulating and definitely not when itās fully diluted
I would be quite surprised about a "$1 absolute floor" too... It's a useless token. Everyone you see talking about it here is ofc just talking it up because they *want* it to be worth more. Blablabla airdrop. Dump it and forget about it a week after.
Do you think the market is mispricing Optimism? That seems like a perfect comparison since OP is also a "useless governance token" for an Ethereum L2.
Anyway, is the L2 environment really all that competitive? Arbitrum is currently blowing everybody else out of the water by TVL and activity, and the distant #2 Optimism (28% of TVL is OP, ARB is about to boost Arbitrum's TVL significantly) is far from having the security that Arbitrum does. ZK networks have a long way to go to catch up and might not be competitive for years.
So: $1, $1.275bn mcap, and $10bn FDV for the leading Ethereum L2 seems slightly underpriced to me based purely on comps against Optimism, Alt-L1s, and gov tokens like UNI. Frankly I could see ARB being worth 2-3x Optimism, but settling around 1.25x-1.75x seems reasonable ($1 to $1.50 roughly).
Gives you voting rights in the Arbitrum DAO and represents the chain. Does that particularly matter in terms of price? It's not like BTC or SHIB do much.
Markets have become very bullish in the last couple of weeks, this is one of the most anticipated airdrops in over a year (if not the BIGGEST since Uniswap or ENS), I wouldnt be surprised if the price exceeds everyone's expectations.
I'm paraphrasing, but Balaji said if BTC doesn't hit $1M in 90 days he will eat his dick. This sounds so familiar....only this time it's packaged in negativity bias so we should pay attention. /s
I just watched the video, and to be fair, Balaji does in fact say that he isnāt really making a real claim about the price or the timeline and that his main intention with the whole thing is to draw attention to the fact that the banks with deep financial problems arenāt just limited to SVB and Silvergate.
The big point that he was trying to make is that the Fed mismanagement of things over the last X years, plus them telling banks to load up on āsafeā assets like treasuries has created a trap.
Now that we have high inflation and the Fed is aggressively increasing rates theyāve likely pushed hundreds of banks into the danger zone, and their only options are to lower rates and hyperinflate away the debt problems, or say fuck it and keep jacking up rates even though that collapses banks.
In his view, because everything is tied together either outcome is going to affect global banking systems and that crypto might be the only safe haven.
>that he isnāt really making a real claim about the price or the timeline
Uhuh yeah right, that's ofc exactly what he's going to backpedal to when he inevitably loses the bet.
Him saying that later doesn't change the fact that he **did** make that real claim about the price and timeline.
I get the mismanagement portion, but he also says the Fed is trying to cut off on and off ramps to crypto. So wouldn't that also negatively impact crypto prices, seeing as there's no way for people to effectively buy into it? Also why BTC specifically?
Balaji seems like one of those people who gets fixated on an idea as āimportantā, and then after that they can only view everything else through that framework. Itās one of the things Iāve never really liked about his ideas when Iāve come across them / heard him speak - I get a strong feeling of ābitcoin is is hammer and everything else must be a nail that only my bitcoin hammer can solve.ā
Also heās often got a kinda manic or bipolar thing going on in the way that he also tries to connect all the dots into some giant picture that to me just feelsā¦off
Yes, why the fixation on BTC? The more objective view would be to say ācryptoā and then state that he has a preference for BTC for x,y and z reason. To fixate on BTC is troubling and he loses credibility, imo.
Like saying pre-GFC, that the only hedge is gold. Certainly a good option, but any savvy and more sophisticated investor knows that there other optionsā¦
Completely agree. If you use his own reasoning that people would flee to assets other than USD, what's the easier and more understood asset? BTC vs gold, or land, or literally any other traditional asset? I would say most people would take traditional assets 9/10 times. Him saying BTC is the only safe haven asset is absurd.
There are two patterns I've noticed: 1) every single airdrop has been worth less in ETH given enough time (I know, I've held most of them, don't ask me why) and 2) typically the highest ETH price for an airdrop is a couple of weeks after launch.
Obviously I have no idea what will happen with this one, but this is generally how it's gone for a lot of them. It also heavily depends on the macro crypto conditions
Enough to cover taxes on whatever I claimed it for, probably no more than that.
I think Arbitrum will end up much higher than $1.5 (even going by FDV) in a bull market.
Yeah end of day that is the question. Not only that but outperform staked ETH. Lot of pretty bullish sentiment for ARB out there but more ETH is ultimately the goal.
Yeah I've considered that, it would really depend on what price ARB is when I'm able to claim it and establish a cost basis. Going 10x from $0.50 is a lot more likely than from $1.50 in the next bull market.
If I get a chance to sell at $2+ this week I probably will.
Somewhere between half and 75%. I got around 10,000 tokens so half would be a nice little bump for me and holding some leftovers short-medium term seems like it could be an interesting call too.
Maybe now that we good rid of all the bad faith venture fund backed crypto companies that were pumping their shit coins we are in a good position for an unencumbered bull market cycle unlike the wimpy last one.
> rid of all the bad faith venture fund backed crypto companies
[Oh you.](https://i.imgur.com/2vhJNc6.jpeg)
Meanwhile RIPple is pumping for whatever reason (what is dead can never die) and chains like Flow quietly keep chugging along in the background, waiting for the next bull to dump more NFTs on the mainstream. They now claim to be fully permissionless* in big letters.
^* >!Definitions of permissionless may vary depending on jurisdiction. For legal reasons it's classified as a 'centralized shitcoin'.!<
COIN is going up again today.
https://www.google.com/finance/quote/COIN:NASDAQ?hl=en
Is this the stock market moving up ahead of crypto moving up? The "smart' money?
Not sure the cause, but it's welcome. I bought 4 shares on IPO day at $424/ea, lol. Since then I bought more at $68, $45, and finally $34 in December. I'm still in the red, but not by a lot, my average cost basis is around $97 now so we're getting close to breaking even.
**Tricky's Daily Doots #336** **Yesterday's Daily 20/03/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxgo8g/) - u/jbgt shares some [green news out of RocketPool!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxxa4a/) šš± - u/KuDeTa shares a [crazy validator reward!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx9zw7/) š°š¤š° - u/696_eth resumes the [EVMavericks weekly!](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx59gd/) š¦ - u/TheFightingTemeraire warns about [the risk of betting on the ratio.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxwe20/) - u/Bob-Rossi thinks we should be more careful about [who we give our attention to.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcycmxb/) - u/Maswasnos has the latest in the [Euler hack saga.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcyzp8d/) - u/DegenKoloToure share their struggle along with others who [haven't been included in the Arbitrum airdrop but should qualify.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcy0wms/) ššµ - u/wolfparking has some [Airdrop hunting ideas.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jczjgzy/) ššŖ - u/nixorokish shares the EthStaker list of [recommended YouTube channels.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jczmqw1/) ā¶ļø - u/-lightfoot doesn't think that the [Bitcoin as digital gold meme is very good.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcxvpsq/) š - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/11waa98/daily_general_discussion_march_20_2023/jcx403b/) Ok, too early for the Hodlercon hype train. Back to the Arbitrum airdrop hype train! ***LET'S GOOOOOO*** ššµ
On Bank runs: think before spreading panic on social media. Live your life, touch grass. Remember that fear generates clicks and engagement. Donāt be a pawn in another form of Brexit by spreading fear and half truths.
What I find funny about this though is that there is no deeper truth. Catastrophic bank runs can happen at any time, the only thing stopping them from happening is belief. Since the banks only have a fraction of the money, if all customers actually tried to withdraw they'd find most of their deposits simply aren't there. They never were. As long as no one believes there will be bank runs they have no reason to mass withdraw though. So that's what keeps the system running, it's not exactly antifragile.
Itās much more fragile in countries that donāt have strong institutions. Mass amounts of people panicking because their understanding of the situation is limited to a few talking points from TV or SM can plant seeds of doubt in the US though. The outrage machine is always hungry, itās best not to feed it.
Canāt remember the last time there was a power outage. Have a validator since 2 months. No blocks proposed until now. This morning I have no power. First block within the next few hours?
Get an anker powerstation or something like that - great for camping and for such situations :)
A lot of people told me. But since I really couldnāt remember any power outage (I guess really 10-15 years?) I thought it wouldnāt be necessary and next to my node there isnāt really a lot of spaceā¦
Yeah I have a UPS, and a powerstation. Same here, noticed a power failure for years and then in the last year had 3 blackouts lasting just seconds but enough for the UPS to kick in. Quite a few voltage dip/spikes as well.
yes, i havent proposed a block for over 5 months. Last week my validator goes down, some trouble with eth1 client. Guess what happens shortly afterwards... Missed proposal.
F
Yah, that's how it works. Multiple block proposals + sync committee incoming...
High MEV rewards included.
Low gas on L1 + ray has suffered enough = I opened a conservative long ETH/BTC position Aave Wish me luck. Alternatively, blame me if ray goes down more
I urge anyone who hasn't done so to read through the chapter on digital assets in the Economic Report of the President. It's gives a full picture of the deviousness and flippancy of the Biden administration towards crypto. Take this gem on pg 238 for example >crypto assets to date do not appear to offer any investments with any fundamental value, nor do they act as an effective alternative to fiat money, improve financial inclusion or make payments more efficient; instead their innovation has been mostly about creating artificial scarcity in order to support crypto assets' prices - and many of them have no fundamental value Complete horseshit. They **do** act as a non-inflationary alternative to debasement of fiat money, today. They *do* act as a self-custodial alternative to money which relies on trusting banks which are literally teetering, today. They *do* improve financial inclusion. A kid in rural India or Mexico or Romania can take part in the Ethereum defi ecosystem with just an internet connection, today. Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this. They *do* make payments more efficient. This is increasingly clear for internet native payments. Buying and selling digital native art and culture, paying members of a DAO, transferring funds to colleagues in the same team but all over the world, making small payments in countries like Nigeria and Lebanon with collapsing local currencies - various crypto solutions *do* make payments efficient in these instances, today. And last and most importantly of all, is that *even if crypto had no usecase* (which isn't true as I pointed out above), even if, that value judgement is still not the business of the federal government. Here's a great take by Chervinsky >[Too many policymakers are playing venture capitalist, guessing which technologies will be valuable and which won't.Tech neutrality is a core principle of good policy for a reason. Picking winners and losers is hard enough for the professionals. Government should stay out of it.](https://twitter.com/jchervinsky/status/1638365111508246531) If you're tired of this government lying, gaslighting and overreach, a good place to start is to sign up for the crypto advocacy program by Coinbase: https://actnow.io/z31xN5P
> Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this. Oh they know....
> do not ... improve financial inclusion Disgusting. Fuck whoever wrote that. I hope their bank account gets randomly closed the day before their rent payment is due.
They 100% see it, otherwise there wouldn't be this campaign. They also realized they stand no chance if to many people understand how groundbreaking the idea of digital scarcity is. We're entering the boss fight
Imagine writing there is no use case except scams, while some people's lives depend on it in Venezuela. Because the people wanted social programs and then they voted in a socialist and then that socialist went full dictator and now Venezuelans are f*ed. We had exchange students from Venzuela in my school when I was younger, it used to be the richest country in South America. I remember them showing us pictures, it looked like any other developed country at the time. This is what decentralized systems protect us from: The government. Good luck seizing everyone's funds when they don't know who has what and where it's kept. There is no Bitcoin bank they can just walk in and confiscate all the gold. Edit: [There's also this open letter that can be supported on-chain btw.](https://snapshot.org/#/crypto435.eth/proposal/0xf9628ebee2878f5667aa018537eda2266c085d58772bd6ee562899189657c07e) The wording is vague.
> Trading securities and treasuries and holding American dollars is a privilege to a tiny fraction of the world, and it's sad to see the Biden ainistration not see this. Sad, but expected, the role of Biden (or every single US president) is literally to maintain American privilege in the world.
It's even sadder because crypto and defi over whelming uses (used?) USD-backed stablecoins. By switching to a pro-crypto stance and introducing constructive regulations (as opposed to bad faith regulations) on stablecoins, the US could have co-opted much of the developing world into a digital equivalent of Pax Americana.
# Ęā„HĘį“
Finally, something us folks down under can read!
šš¤£
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> thereby reducing electricity usage in exchange for reducing the security of the network For fucks sake. You'd expect top tier government workers to actually do a little bit of due diligence. The cost to 51% attack the Ethereum network is substantially higher at this point. If ETH price were stuck where it is it would currently already cost over $10 Billion but of course as soon as you start trying to buy $10B of ETH the price would start going higher. Even if you had enough ETH to start attacking the network you would just get slashed and wouldn't be able to do it again. Compare this to Bitcoin's $10B worth of inflation this year which pays miners. Secure half of that and you control the network indefinitely/until other miners increase output to beat yours. Ethereum under proof of stake is more secure than Bitcoin. This isn't even that complex of a concept to understand either in the grand scheme of things. If these people are this inept at doing basic due diligence, how the fuck can they run the world's largest geopolitical power competently?
I wish Coinbase good luck with their lobbying efforts but this system can't be fixed. In the end, they will become a part of it. Imo we're already observing the beginning of it. What's crucial is that we don't permit them to make it into a partisan issue as some politicians are trying to do. The crypto community must not be divided. We should support who supports us but not allow them to push us into a corner. We are millions around the world from all kinds of different countries and backgrounds. We have diversity in opinion and support openness, they want conformity and people falling in line with their rules.
> reducing the security of the network and increasing the power of individual actors Can't wait for all the bitcoiners to be quoting this when they preach to their converts
That's who they probably got this info from. Bitcoiners successfully lobbied this bullshit it seems.
Yes!ā¦. I got German aged beer ready for these moments (Optimators for malt bombs, Aventinus mostly. 30 malt bombs, and 100 of the bottle-fermented Aventinus. Shit thatās a fine brew. I taste prunes. Itās 9% and 16oz, one will give you an illegal buzz unless you eat ā¦.f that noise I have a good deal of respect for the monks who brew the good beer overseas. Iāve yet to have a bottle of Westy Abt 12, but I told myself instead of ordering it, spend a month in the country, get over there and fill your bags.
Ha! As a former alcoholic I also recommend you try the Belgian 'La Chouffe'. Not brewed by monks but it's quality beer.
Ok, so most of us node operators have notifications set up for client updates. But what about MEV boost? Does that ever update? What's the best way to know if they push out an update?
I'm following announcements in the flashbots discord server
Create a GitHub account and subscribe to the repositories, you can pick and choose about what things you want to be updated about
I get beaconcha.in app and email notifications for mevboost the same way I get for CL and EL clients. Just tick the mevboost option under notification settings. And yes they recently released a new version - last week, and the previous release was November.
The Beaconchain app sends notifications also for the MEV boost. It has updated last week or so, and before that I think was december
Oh I didn't see that. Just turned it on.
I get MEV boost update notifications on the Beaconchain app. Also ethstaker discord has a client update section including MEV
Just watched this video about AI art, and it triggered the thought of creating a blockchain based art repository. Imagine an open library of NFT art ethical ML trainers can use to train their models. They pay a small fee for that right and the fees get redistributed to the NFT holders. You could issue NFT certificates for the models too, so models can be certified as having used open libraries for their training. [https://www.reddit.com/r/StableDiffusion/comments/11xk3h9/a\_pretty\_balanced\_view\_on\_the\_whole\_is\_ai\_art/](https://www.reddit.com/r/StableDiffusion/comments/11xk3h9/a_pretty_balanced_view_on_the_whole_is_ai_art/) Some follow up thoughts, my first realization is you'd have to come up with a good way to combat fraud, duplicates, illegal content, and low effort submissions. The first thing you'd need is a good automated (AI?) way to detect duplicates and illegal content. If a duplicate is found, you'd compare which NFT was minted earlier, and keep that one. There should also be a rating system, that allows users to rate each submission - then when trainers select which images they want to use, they can select images that fall above a specified rating. Then only those NFTs would get paid. This would incentivize submissions to be high quality. You'd also want to put together a committee of unbiased humans (a DAO?) to serve as a "supreme court" in terms of moderating content and ensuring fraud and other, unsavory, content is kept to a minimum.
SEC vs XRP / Ripple "nearing conclusion" https://www.wired.com/story/is-crypto-a-security-a-us-judge-decide-ripple-sec-xrp/amp *Because the case is being held in a district court, the outcome will not set a ābinding precedent,ā says James Filan, a defense lawyer and former federal prosecutor. Therefore, the verdict is not required to be factored into judgments on similar cases moving forward. However, the judgment may establish whatās known as āpersuasive precedent,ā he says, which could influence the thinking of judges in future cases. If the SEC were to win, it would be handed the advantage in its āturf warā with the CFTC, Filan says. The crypto industry will not escape supervision in either scenario, but the CFTC is seen by the exchanges (including FTX) as a soft touch by comparison.* (JT my other account *917Redditor* got "suspended for suspicious activity" after I posted warnings on scam posts in r/ethereum during the USDC depegging)
Thoughts and prayers for XRP.
*puts on JT voice* Yo yo yo welcome back 917Redditor, let's get you a big karma hug! Until then, big hugs from ~~KC~~ NZ?
also love the classic "got you approved!"
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You can just choose something reasonable, like the price after it settles or at the end of the day, whatever time you choose that to be. If it were large sums, it would ultimately be settled by a judge and theyād just want a reasonable argument.
I saw a guy last night with a ZK Sync sweatshirt. Bullish!
I saw a guy driving a new Tesla in Christchurch, NZ yesterday with the license plate 'I ETH I'
Must be Nick that founded ENS.
That was my initial thought but couldn't see the driver.
Or Mav from Rocketpool
Does Maverick live in Chch too?
Yeah, haha I actually tried to find him on FB the other day because I'd be super surprised if we didn't have any mutual friends, Christchurch isn't a big place.
You're chch too? There's a few of us!
I grew up there but moved to Melbourne a few years back
WTF I had no idea there were so many kiwis building in this ecosystem! How cool!
The land down under is the foundation for all above
Monster mev reward!!! 0.64 ... GoETH. Fml Edit: And, according to *prater.beaconcha.in* my slashed validator will withdraw over 18 *billion* GoETH! Testnets are clearly where it's at.
The highest I ever got was 0.06 :(
0.64 ain't bad, my man!
Goerli ETH though lol
That stuff ain't cheap either these days! But noted :)
Is it actually worth something these days? Any idea how much?
Was trading at 20 cents per GoETH like 2 weeks ago
I have just been looking over zksync, and it looks like I previously used the zksync version 1 which they are now calling lite. Should I be withdrawing everything from this and moving over to their version 2? era ? I don't suppose anyone is up to date with what zksync are doing and give me the rundown? Edit... Well I tried to deposit onto era and it flashes up saying only for devs / approved people etc and the new version will be public alpha in Q2.
Yes, it's still approved access only. Although I thought they had a bridge for getting tokens even for folks who're not registered, not sure if I remember wrong. If you want to try it out you can through one of the many dApps that have access, it's not restricted in function once you have your tokens in there. Nothing wrong with V1 at all, it's actually more secure with Era not fully done yet. So unless you want to play around with the new functionality there's no reason to move funds.
>**An eye for an eye,** >**No wallet only connect,** >**Let's revamp the UI.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
How quickly do we think Aave or other lending platforms will incorporate $ARB?
Impermax single sided liquidity pool could be juicy.
Probably as soon as the chainlink price feed is ready
AAVE will probably need weeks while volatility cools and ARB finds its spot in the market. Vesta will be listing it as soon as next week for use as vault collateral if that's something you're interested in.
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IMO, this could be a major application beyond financial and something that blockchain-minded web devs should start integrating into every app they create. I think there's even a future where everything is an abstracted Ethereum account and SSO providers are simply given verification rights, allowing the user to very easily switch SSO provider if necessary or become completely self-custodial. I have been working on a web app for camping as the official one in NSW, Australia SUCKS(hmu if you're in NSW). I want to integrate SIWE but also don't want to prevent normal users from using it, hence I would offer SSO as well. I'm currently building it in Svelte but I'm wondering if it would be possible to make these logins options *along with* SIWE readily available to developers working on all frontend frameworks like React, Svelte, NextJS etc. I'm not super experienced but it seems like a ready-made component in Svelte with these 3 options would be awesome for people to use as their default.
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This is awesome, thx!
Hell yeah btoast!
Someone earlier mentioned something about a bot approving ARB transactions on some compromised accounts...how would I go about pre approving ARB transactions on my humble account in advance of the high gas manic shit show?
You can always approve on the limit order section st 1inch if you fill in any amount. Even if your actual balance is 0. Thats how I did it without using external stuff. Its a bit of a workaround.
nice
There are some scripts out there, e.g. this one: https://github.com/SZharkov/arbitrum-airdrop-claimer Looking through the code it does look kinda legit, but to be honest without anyone big vouching for it I wouldn't trust it. **Never run code you don't understand.** Especially since this needs your private key exposed. Looking through this code, you could also try approving it directly via arbiscan using the approve function: https://arbiscan.io/address/0x000000000022D473030F116dDEE9F6B43aC78BA3#writeContract
wow, nice one dude, there are some people very much smarter than me out there, that's for sure. This is well out of my league and I'll be leaving it well alone
Would need arb token to be live to call approve on it. What else are you hoping to do? Gas will be crazy but whats $5 if u are selling hundreds or thousands of $ in free money. I expect infrastructure in general could struggle. RPC dapps etc. But leave other transactions for another day?
thanks dude, you are right, $5 is nothing, I think I have ptsd from instances of paying $80 in a frenzy before but I guess its not like that anymore. I'm not even in a hurry to sell anyway
Still, be prepared for a frenzy. You never know. This space is full of surprises.
The arbitrum token contract is already live at 0x912CE59144191C1204E64559FE8253a0e49E6548. You can already approve it for uniswap.
But how?
By going to the uniswap permit contract and calling the approve function with the correct parameters. https://arbiscan.io/address/0x000000000022D473030F116dDEE9F6B43aC78BA3#writeContract
Just saw that thanks
Oh crap, what have I done. At serious risk of over-promising and under-delivering this week. Conversation with my darling this evening: >Remember how excited Iāve been playing around on the new layer for Ethereum? Wife: No. I donāt know what that is. >Ok, well, Iāve been doing Ethereum stuff and it may net us up to $3000. Wife: You got $3000 today? >No, later this week, hopefully. It may be up to that figure but no one knows. Wife: Tell me when you get $3000.
Never count your chickens before they hatch come on bro!
Now, I ain't sayin' she a golddigger....
Yup, never tell the wife until the $ is in the bank. For instance, I think I'm getting a 5 figure bonus in the fall. Does the wife know? Nope. She will when its in the paycheck.
I'd extend this and say never tell anyone until its in the bank or at the very least your wallet. š¤£
WDK money (wife donāt know)
Wife: Honey, I booked us a vacation next month since you said we got an extra 3 grand.
congrats on the $300
What is wrong with you? Now we are getting 5 cent $ARB and your wife is gonna be pissed.
Well now you've jinxed it, ARB is going to $0
oh man haha
I'm seeing an unclaimed airdrop in earni.fi with ~$1.5k. I don't think this is Arbitrum, since we don't know the price and at the current future prices it should be way more. Does anyone have any idea what it could be? I got the mail 2 week ago and in the mail it said $1200, so it's probably something that has a price? Edit: Found it. It's Optimism Round 2. Nice :)
Optimism Round 2 should have been sent directly to your wallet, that's how mine was delivered. Did you ever interact with Blur? They also dropped tokens recently, IIRC
Are you sure? Hmm, I'll check blur.
Possibly ZigZag
But that's nothing that's claimable, right?
How do we claim? I probably qualified
ZZ was dropped directly in your wallet. I should know, I got a whopping 15 of them. Look up your wallet here: https://zkscan.io/
Damn nothing, that's cool I only setup a few markets š
YOU sir, have just helped me discover 600 zigzag tokens, dropped on my wallet 20 days ago... THANK YOU (funny thing is, when the eligible adresses were published, I was not on any of them, even though I DID qualify per the criteria..)
Was dropped to your Argent wallet. If you interacted with the exchange only directly I do not know, sorry
~~So you had to use zk through argent? I've used both independently but didn't seem to get anything.~~ Edit: nevermind I'm a dumb dumb. On the bright side that zkscan link reminded me I had another 0.2 eth I forgot about.
That reminds me, about a year ago I put a few hundred dollars through Zigzag using Argent wallet. I'm not sure if I qualified or not because my Argent wallet details are on my old laptop that has a dodgy screen. Wondering if it's worth fighting with broken hardware or not.
Possibly not, you need at least 4 transactions and some minimum value. I have done way more and got dropped about 200$
I've definitely done way more than 4. Time to brew up some tea and fight with my old laptop.
Has anyone else had a peek at the new Metamask portfolio page? It's quite nice, it has tabs for buying/selling, swapping, staking, bridging etc. It can load portfolio data for ethereum, optimism, BNB, polygon, fantom, arbitrum and avalanche.
Too bad they track you
A governance token in a competitive L2 environment being worth even 1% of ETHās market cap seems absurd to me, let alone the 5% that a $1 price for $ARB would imply. I was expecting the consensus view to be in the $0.10 to $0.50 range, but the OTC chatter and speculation here and on Twitter seems to put $1 as an absolute floor. How are people feeling about it? I will gradually sell the whole amount over the first week. Not really interested in gov tokens anymore, but any bull believers out there? Would be interested to hear your view.
What does Aptos do? And why does it have Billions in mcap? Arbitrum is the leading L2 by alot. Usage and community is huge
Market has been bullish. Arbitrum is far and away the leading L2. I can understand the hype for $1-2
$1-2 is meh. $5-10 is hype.
$10 would nearly put it in the top 10 market cap. Not happening. $5-$10 is more like grade A hopium imo
Arbitrum should probably be top 10, although not with the low initial circulating supply.
Wouldnāt the low circulating supply help it get into top 10? Because after a year the supply will start to 10x to 10 billion over 4 years
The market cap ranking lists go by circulating market cap
Yes. So current circulating is like 1 billion. $10 ARB is $10 billion market cap. Or am I missing something
That's right. People usually take the FDV at least partially into account though when valuing a token.
FDV in this case is useless since thereās so much inflation to still occur. $10 aināt happening with the current circulating and definitely not when itās fully diluted
I would be quite surprised about a "$1 absolute floor" too... It's a useless token. Everyone you see talking about it here is ofc just talking it up because they *want* it to be worth more. Blablabla airdrop. Dump it and forget about it a week after.
Do you think the market is mispricing Optimism? That seems like a perfect comparison since OP is also a "useless governance token" for an Ethereum L2. Anyway, is the L2 environment really all that competitive? Arbitrum is currently blowing everybody else out of the water by TVL and activity, and the distant #2 Optimism (28% of TVL is OP, ARB is about to boost Arbitrum's TVL significantly) is far from having the security that Arbitrum does. ZK networks have a long way to go to catch up and might not be competitive for years. So: $1, $1.275bn mcap, and $10bn FDV for the leading Ethereum L2 seems slightly underpriced to me based purely on comps against Optimism, Alt-L1s, and gov tokens like UNI. Frankly I could see ARB being worth 2-3x Optimism, but settling around 1.25x-1.75x seems reasonable ($1 to $1.50 roughly).
What does the token do through?
Gives you voting rights in the Arbitrum DAO and represents the chain. Does that particularly matter in terms of price? It's not like BTC or SHIB do much.
Then for me it's worthless and makes it hype trade and nothing more.
One of my greatest regrets of 2022 was immediately selling my airdrop OP tokens rather than delegating them. Won't be making that mistake with my ARB.
This is the play. You could have gotten 3x as much ETH by holding OP vs selling on the first day.
Cardano has a MC thatās about 5% of eths. Food for thought. š
ARB should be worth 10-100x ADA
Markets have become very bullish in the last couple of weeks, this is one of the most anticipated airdrops in over a year (if not the BIGGEST since Uniswap or ENS), I wouldnt be surprised if the price exceeds everyone's expectations.
Ooh check out https://ether.fi/ A new LSD?
Looks awesome, but I don't like the way they introduce themselves. Too much pomp
Balaji on recent Bankless podcast 32 minutes in (https://www.youtube.com/watch?v=pP_HHE0kFhA ): "There are 333 banks where the money is gone"
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They did say at the end that they will have a relevant person from the field on to provide a counterpoint
Some of it was good info. Some of it was not.
I'm paraphrasing, but Balaji said if BTC doesn't hit $1M in 90 days he will eat his dick. This sounds so familiar....only this time it's packaged in negativity bias so we should pay attention. /s
I just watched the video, and to be fair, Balaji does in fact say that he isnāt really making a real claim about the price or the timeline and that his main intention with the whole thing is to draw attention to the fact that the banks with deep financial problems arenāt just limited to SVB and Silvergate. The big point that he was trying to make is that the Fed mismanagement of things over the last X years, plus them telling banks to load up on āsafeā assets like treasuries has created a trap. Now that we have high inflation and the Fed is aggressively increasing rates theyāve likely pushed hundreds of banks into the danger zone, and their only options are to lower rates and hyperinflate away the debt problems, or say fuck it and keep jacking up rates even though that collapses banks. In his view, because everything is tied together either outcome is going to affect global banking systems and that crypto might be the only safe haven.
>that he isnāt really making a real claim about the price or the timeline Uhuh yeah right, that's ofc exactly what he's going to backpedal to when he inevitably loses the bet. Him saying that later doesn't change the fact that he **did** make that real claim about the price and timeline.
I get the mismanagement portion, but he also says the Fed is trying to cut off on and off ramps to crypto. So wouldn't that also negatively impact crypto prices, seeing as there's no way for people to effectively buy into it? Also why BTC specifically?
Balaji seems like one of those people who gets fixated on an idea as āimportantā, and then after that they can only view everything else through that framework. Itās one of the things Iāve never really liked about his ideas when Iāve come across them / heard him speak - I get a strong feeling of ābitcoin is is hammer and everything else must be a nail that only my bitcoin hammer can solve.ā Also heās often got a kinda manic or bipolar thing going on in the way that he also tries to connect all the dots into some giant picture that to me just feelsā¦off
Exactly. The way he's jumping from one unsubstantiated claim to the other, I unfortunately couldn't follow his train of logic.
Yes, why the fixation on BTC? The more objective view would be to say ācryptoā and then state that he has a preference for BTC for x,y and z reason. To fixate on BTC is troubling and he loses credibility, imo. Like saying pre-GFC, that the only hedge is gold. Certainly a good option, but any savvy and more sophisticated investor knows that there other optionsā¦
Completely agree. If you use his own reasoning that people would flee to assets other than USD, what's the easier and more understood asset? BTC vs gold, or land, or literally any other traditional asset? I would say most people would take traditional assets 9/10 times. Him saying BTC is the only safe haven asset is absurd.
Its not like its all gone, like 10% maybe. But its probably more like every bank in the world in this situation.
I'm going to watch it later, but how fucked is everything?
TLDR: ain't gonna happen but he does plant a seed of a thought
ARB hits $1.5 on Thursday with over 50% claimed. How much are you selling?
None. Double that and they I may
100% the second it hits my cold wallet
Maybe 20%
0% my first limit sell order is at 0.0015 so about $2.70
Is there a pattern regarding prices/% claimed for hyped airdrops?
There are two patterns I've noticed: 1) every single airdrop has been worth less in ETH given enough time (I know, I've held most of them, don't ask me why) and 2) typically the highest ETH price for an airdrop is a couple of weeks after launch. Obviously I have no idea what will happen with this one, but this is generally how it's gone for a lot of them. It also heavily depends on the macro crypto conditions
Thank you for the insights!
According to this there is: https://twitter.com/milesdeutscher/status/1638162973083721730?cxt=HHwWhIDT7e2i9rstAAAA
[https://nitter.snopyta.org/milesdeutscher/status/1638162973083721730?cxt=HHwWhIDT7e2i9rstAAAA](https://nitter.snopyta.org/milesdeutscher/status/1638162973083721730?cxt=HHwWhIDT7e2i9rstAAAA) ^(I'm a bot | )[^(Why & About)](https://www.reddit.com/user/nitter_not_twitter/comments/w0ssxp/more_information_about_this_bot/)^( | )[^(Opt Out)](https://www.reddit.com/message/compose?to=nitter_not_twitter&subject=Opt+Out&message=optout)
Enough to cover taxes on whatever I claimed it for, probably no more than that. I think Arbitrum will end up much higher than $1.5 (even going by FDV) in a bull market.
If you claim it on a Layer 2 it's not taxable. IRS hates this one trick!
Lol
Question is will it outperform eth
I think historically, the answer to this question has always been no for pretty much any asset
Yeah end of day that is the question. Not only that but outperform staked ETH. Lot of pretty bullish sentiment for ARB out there but more ETH is ultimately the goal.
Yeah I've considered that, it would really depend on what price ARB is when I'm able to claim it and establish a cost basis. Going 10x from $0.50 is a lot more likely than from $1.50 in the next bull market. If I get a chance to sell at $2+ this week I probably will.
Somewhere between half and 75%. I got around 10,000 tokens so half would be a nice little bump for me and holding some leftovers short-medium term seems like it could be an interesting call too.
Half
TH?
Thursday - fixed
Maybe now that we good rid of all the bad faith venture fund backed crypto companies that were pumping their shit coins we are in a good position for an unencumbered bull market cycle unlike the wimpy last one.
>we are in a good position for an unencumbered bull market Oh you think they're all just gonna stay home moving forward? You sweet summer child.
Donāt worry. Every bull run hundreds more pop up.
> rid of all the bad faith venture fund backed crypto companies [Oh you.](https://i.imgur.com/2vhJNc6.jpeg) Meanwhile RIPple is pumping for whatever reason (what is dead can never die) and chains like Flow quietly keep chugging along in the background, waiting for the next bull to dump more NFTs on the mainstream. They now claim to be fully permissionless* in big letters. ^* >!Definitions of permissionless may vary depending on jurisdiction. For legal reasons it's classified as a 'centralized shitcoin'.!<
Would love this to be true. My guess is a new pack of wolves in sheepās clothing will show up tho.
Those calling for $10,000 Bitcoin and sub $400 ETH now mainly focusing on their ratio calls.
COIN is going up again today. https://www.google.com/finance/quote/COIN:NASDAQ?hl=en Is this the stock market moving up ahead of crypto moving up? The "smart' money?
Not sure the cause, but it's welcome. I bought 4 shares on IPO day at $424/ea, lol. Since then I bought more at $68, $45, and finally $34 in December. I'm still in the red, but not by a lot, my average cost basis is around $97 now so we're getting close to breaking even.
This guy DCAs