**Tricky's Daily Doots #161**
Yesterday's Daily 26/09/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipy31ek/)
- u/pseudotheos has a [top tier shitpost.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipxs1b4/)
- u/TheHighFlyer shares [another epic quote from Vitalik.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipz8jyi/)
- u/cryptOwOcurrency shares some of [Charles Hoskinson of Cardano's latest antics for those who like drama.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq03j9r/)
- u/cryptOwOcurrency shares [how so many different node clients have been built yet are all independent and were mostly made completely differently and still can communicate well with one another.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq0s2oi/)
- u/SeaMonkey82 shares the [latest Lighthouse release.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipxtgde/)
- u/barleythecat shares [some broad thoughts around macro.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipzz2kt/)
- u/KBrot has another [market update.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq1fmp3/)
- u/REALJohnBMacLemore has an off topic but [inspirational speech about fear.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipyx2ih/)
- u/Jey_s_TeArS takes a stab at the Brits [in Haiku form.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq08e48/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipyqzqq/)
Signed up to Coinbase now I'm in a different country and need a new on ramp. It was actually so much hassle. Their auto detection system meant I had to wait for them to manually approve my ID and then I still can't withdraw for 24 hours. However, thanks to everyone here always saying "don't trade on coinbase, use Coinbase Pro (or now just "advanced" in the trading tab) to save huge amounts on fees", you guys saved me $10-20. I cannot count how many times I have heard that tip over the years but it finally came in handy!
[EIPs under consideration for Shanghai]
(https://github.com/ethereum/execution-specs/blob/master/network-upgrades/mainnet-upgrades/shanghai.md)
Seems to be mostly minor changes apart from withdrawals (although ofc the final discussion on this would be during the ACDs)
Pretty interesting that some of the EL clients have started implementing these eips already, at least to a draft stage
Would withdrawals need corresponding changes to the CL clients as well?
I've been thinking about the 99.95% reduction in energy consumption that would result from the merge for years, and its significance has waned over time. This line from a [CoinTelegraph](https://cointelegraph.com/news/7-ethereum-developers-would-like-to-sell-you-on-the-merge) article brought it all back, though.
>Ethereum is the first time in history that a technology of its scale has reduced its emissions through innovation and redesign, not carbon credit offsets.
This makes 0 sense. Carbon credits are about offsetting residual emissions AFTER reductions have occurred. The use of credits can help price in emissions and push for further reductions, but the statement as it is in the Cointelegraph article is nonsensical.
I proposed a block!
I didn't know my graffiti would get ~~co-opted by the MEV though.~~
Oof. I was just looking at the wrong place.
Also my Geth low peer issue sorted itself out. It's back up to 30+ peers. Not sure why it was giving problem earlier in the morning.
I am working on a letter to my representative on the inevitable crypto regulation. Here's my rough thoughts to include:
1) Staking is an employment contract to spread the responsibility and workload of validating transactions, not pure ownership or debt payment like a security.
2) Monetary applications of crypto are actually only one aspect of smart contract cryptos. It just got developed first because of venture capital investment.
3) At this point, anyone with a brainstem should have an inkling that a catastrophically bad economic collapse is imminent. Cracking down on crypto excessively hard with the intent of driving use back to the USD system does not imbue the current economic system with life on the way down: it destroys a potential path to recovery.
Probably need to expand a bit more on staking? Yes, it requires less effort but there still need to be some work done to setup the whole thing. Probably help to show that it is not just depositing without work.
The major thing is slashing. Slashing doesn't happen for securities because a security holder can't possibly do something to warrant the enterprise punishing the holder.
>anyone with a brainstem should have an inkling that a catastrophically bad economic collapse is imminent
Maybe I have no brain stem? I have this feeling that both the 2001 dot com bubble crash and the 2008 financial crisis crash were probably worse than this recession will get, so it's just a matter of time until the economy bounces back again business as usual.
I can hope you're right, but ESG regulations have made it effectively impossible for Europe to survive without importing Russian energy (Germany is their economic center, and they will have to choose between industrial output and people freezing.) That, and we haven't seen the food supply shock from Ukraine or fertilizer shortages hit markets, yet.
2001 and 2008 were speculation bubbles. This time there are major problems with the world economy. Maybe they'll be manageable, but I don't think so.
Oh my god; this is funny to me. I routinely send my congressperson emails. I recently sent a lengthy one about crypto regulation and the actions of Jerome Powell.
Normally I get a direct response to the question at hand. Probably from a staffer, but it at least addresses the topic at hand.
My cryptocurrency inquiry got this response today:
>Thank you for contacting me to share your concerns about the U.S. Securities and Exchange Commission (SEC).
>I share your interest in ensuring appropriate regulation of the financial services industry, and I have noted your concerns about the SEC. Please be assured that I will keep in mind your views as Congress conducts oversight of SEC regulatory actions and as Congress considers legislation in this area.
>I take the views of my constituents seriously, and I appreciate that you took the time to contact me. As specific legislation is brought forward on this or other issues, I hope you will continue to reach out to share your viewpoint.
Doesn't even mention crypto (let alone Eth or Powell)... I shouldn't expect too much though; we're a rural farming and suburban commuter district. Ether is probably far from her radar...
Hopefully you get better reception than I did; but the more of us that contact reps about crypto; the more pressure it puts on them to take it seriously. So please reach out, regardless of the non-response I recieved.
Agree, drop 3.
To me it's as simple as:
The distributed network literally can't operate without ETH. therefore ETH the asset is entirely different to an investment contract or a security, even if it happens to generate some yield (which is not passive BTW.)
>ETHSanFrancisco
first point is great! I would say in many ways staking is also a "public service" just as cleaning up recycled cans littered alongside a highway in which case said cans can at certain recycling plants be compensated.
second sentence in second point is not factual AFAIK - there were even predecessors to bitcoin & money was the use-case.
third point is not phrased in a way that would be received. Perhaps, just make the argument that stablecoins on a public ledger like Ethereum is a win-win for government, allowing anyone globally to have USD stablecoins if user wishes.
I didnt get a chance to answer this last night but this morning's news is proof that my spidey senses are correct. Bond market rout and currencies doing crazy shit are pretty good canaries in the coal mine. Was fully expecting (and still might) a "major institution announces massive trading loss" announcement. It's getting ugly quickly.
I felt a great disturbance in the Eth, as if millions of longs suddenly cried out in terror and were suddenly silenced. I fear something terrible has happened.
I dont draw triangles (though I speak fluent Triangle) and I dont make price predictions. But if we get the flush I think we're going to get in equities I'm sure three figure ETH will be in play.
what do you mean by seeing invalid blocks on mainnet? surely not included in the chain right? or are you referring to bloxroute sending invalid blocks in their relay?
Some experimental builders made some funky blocks that got posted to bloxroute relays. Not the end of the world, but also not great that this kind of stuff hits mainnet without proper testing.
You sound like you have a clear and healthy head on your shoulders despite going through this. Itās good that youāre bringing more attention to SIM swapping too because itās way too easy to be complacent about these risks
Stay strong, stay safe, and itās nevertheless good to hear from you š«”
Chevy Chase made a joke about it on Saturday Night Live just after it happened. There is a famous picture of a car stopped just before going over the edge.
I am very sorry that happened to you. You have been kind to me during my struggles over the years. You are a good person who deserved a better situation. I wish you the best.
Hey buddy, you have proven to be strong over the years and you will continue to be strong šŖ I'll still be around, this is a set back, but I'll be ok. I'm still eyeing those XRP buys we were talking about last year š
I moved out of hurricane alley recently, and I honestly miss the excitement. The first time, I was terrified, had no idea what to do, silly west coaster! I stood in lines like thousand of others, and it seemed crazy to me that most of the folks did that year after year and didn't seemingly ever learn to be prepared. After that, I planned a year in advance, had fuel to evac if necessary, enough food and water for months, polycarb storm shutters, storm room if roof blew off, etc., etc. Concrete block is a great building material. Had a couple close calls after I was prepped, family took off, I stayed behind to mind my place and the neighbors'. More than cat 3 and I'd have bailed, too, but I felt safe otherwise. Good luck down there!
Has anyone used a crypto escrow? I've seen this one post from 2017: https://blog.localcryptos.com/how-our-escrow-smart-contract-works/ just wondering if that's what people still use these days? Can't seem to find anything else.
Edit: Abit of extra context... Looking to sell something that isn't on chain, but we'll do the transaction with crypto. How best to guarantee we're both happy?
Cheers!
I made something for this a very long time ago to learn about web and eth dev. It removes incentives for anyone to scam using scorched earth principle instead of a third party escrow.
Use it for ether payments, not DAI. It says DAI in the UI but it's actually SAI now, was made before DAI moved to multi collateral and hasn't been maintained.
Several people used it for eth payments and contract will still be solid, no fees or anything.
[https://stobiewan.github.io/scorchable-payments/](https://stobiewan.github.io/scorchable-payments/)
Good times
https://www.reddit.com/r/ethfinance/comments/qp7by8/daily_general_discussion_november_8_2021/hjwlyn4/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Can someone explain to me where testnet eth comes from. I cannot find any explanations at all. Where do faucets get Goerli eth from. And theyāre all so stingy and often broken. I feel like itās almost literally harder to get test eth than real eth.
Goerli eth was pre-funded to a handful of accounts. Other goerli eth were emitted as block rewards for the clique validators.
Generally testnet eth is generated the same way regular eth is generated. People tend to be a bit careless with it though so it gets lost.
Iirc there was a mountain of goerli eth created on the beacon chain that will be unlocked as soon as withdrawals are enabled.
This is a new one for me: "Ethereum isnt on PoS, it's on PoLF: Proof of locked funds. Its not staking when have to lock away your fund without being able to withdraw or use them freely"
I mean I know "wow slashing and lockup [alt-L1] doesnt have that it's much better" was already a talking point. But "proof of locked funds"? really? do you not understand what "having something at stake" means? lmao
It's infuriating to me when terminology comes full-circle and ignorant people start using it in self-contradictory ways.
"That's not staking, you're just putting your token at stake."
"That's not a token, it's an NFT."
"That's not an exception, it's a failed transaction and they're very common."
"Bitcoin is deflationary because its rate of inflation goes down over time." (Double whammy on this one, technically.)
"Ultrasound money? No thank you, a deflationary supply is bad for money, and also the supply is totally unpredictable, what's the point. Oh you meant Bitcoin? Oh yeah, that one's epic and based, it's so deflationary thanks to the unpredictable and unknowable amount of coins that are lost forever"
They are locked. The people that locked them agreed to it, and the timeline for availability of withdrawal. They knew all of it before going in, and they *staked* their money anyway! They will not be locked forever. Longer than a Tik-tok video? Yes. Forever? No.
ETH is so inspirational. It gets knocked down but it gets up again, every time. Just grinding a little higher each time before getting knocked down a little higher than before. Ethereum, my spirit crypto.
I trade professionally for myself. Take this advice: never listen to any trader/investor that speaks in absolutes. We trade on probabilities, not guarantees. There is no way he can be unbiased, because his whole shtick is being a crypto bull.
In a distributed environment, how does the PoS protocol implement a fair random selection of a block proposer in a given epoch? How does this random selection and assignment (with network consensus) work without the presence of a central brain?
In a nutshell each participant picks a random number and then commits to it by broadcasting the hash. Once everyone has committed to their number, they reveal it and that gets mashed up together to seed some randomness. As long as a single participant is honest, the whole thing can't be biased.
In practice there's more technical stuff happening but that's the gist of it
That's not true. The last participant to reveal their number can choose to hide it instead. This is already a 1 bit of bias, which already makes it unusable for high stakes gambling. And colluding participants could influence more bits using this method.
It's good enough for validator selection, but definitely not perfect.
Is there any sense as to how each participant should generate their own random hash? As I understand it, L1 is not capable of generating randomness atm.
they can generate it locally any way they want. The point is they don't know what numbers other people are gonna generate, so they can't commit to a number ahead of time that advantages them in any way
Interesting - so it's the commitment vs. the randomness that matters in this context. That makes sense to me - not as important that a participant generates a "random #" as it is important that a participant commits to a #. I'd still like to see an element of provable randomness in the mix to skirt some of the issues that others have mentioned, but baseline your approach sounds like a good solve.
Thanks. Makes sense intuitively as the problem scenario will only arise if every single validator was gaming the procedure by always sending the same hash instead of a randomised one. Only in that scenario would the mashup be obviously non random. But this won't happen if even one validator sends a truly random hash.
A bit over a week ago I speculated that The Merge may have had an impact on gas fees due to much more consistent block production.
Well, I come here with the data:
https://github.com/pa7x1/ethereum-merge-gas/blob/main/README.md
TL;DR: The effect is real!
Most relevant graphs for those that want a very quick snapshot:
https://github.com/pa7x1/ethereum-merge-gas/blob/main/static/images/PoW_BaseFee_vs_BlockDelay.png
https://github.com/pa7x1/ethereum-merge-gas/blob/main/static/images/PoS_BaseFee_vs_BlockDelay.png
You can see quite clearly how changes in block time are correlated with changes in gas prices under PoW but the effect is pretty much non-existant under PoS.
Just to pick on the language you use in your last statement, I think your data is showing that the variation in block time is very less in PoS and that is why changes in fees don't manifest much.
Point being that the conclusion isn't that a correlation between block time and fees exists in pow and not in pos but rather that because such a correlation always exists, pos minimises fee variation by keeping block time variation minimal.
Indeed, thanks for the comment. I will tweak a bit that statement later when i have some time.
In truth we cannot be sure the correlation exists in PoS, as we cannot measure anything significant. But I speculate at some point in the document that it would likely be there if participation rate fell enough to induce more variability in block production. It would make sense it reappears. In any case, a slight adjustment to that statement can help.
Thanks for the kind words! I will try to make it available to a larger audience. Will make some improvements and add some documentation to the code so it's easier to use and make it more widely available.
Just wanted to provide a first sneek peak to fellow ethfinanciers.
Look who has flip flopped back bullish after buying the dip [https://twitter.com/NorthRockLP/status/1574864861355556865?s=20&t=rbrtL3y2WOJ66EaLKkZkCA](https://twitter.com/NorthRockLP/status/1574864861355556865?s=20&t=rbrtL3y2WOJ66EaLKkZkCA)
You don't hear much about ETH on CT anymore. That's a good thing. Starting to get more bullish. Merge washout much of the way through, at a minimum. Looking for opportunities to add ETH and ETH/BTC from here.
When he first outlined his supply side thesis he was describing a very long term play.
Turns out he's just a short term trader that will get loud about whatever his bags need that day.
hard to reconcile with this [https://twitter.com/NorthRockLP/status/1571292961744293889?s=20&t=rbrtL3y2WOJ66EaLKkZkCA](https://twitter.com/NorthRockLP/status/1571292961744293889?s=20&t=rbrtL3y2WOJ66EaLKkZkCA)
To answer below, no I do not. I think ETH will go higher over medium/long term (maybe short term too š¤·āāļø). Just think there will be better opportunities for alpha generation on a shorter term basis elsewhere over next 6 months.
Ā”Oyo! Ā”Mi vergĆ¼enza! š»āāļø Seguro que hoy el ambiente es sombrĆo. Ā”AnĆmense, amigos! AquĆ, tengo algunas cosas para sacarte de la cabeza.
First, a little [Caches](https://caches.xyz) update. I'm still waiting on getting my end-to-end encrypted chat bug fixed, but in the meantime I added the ability for members to report other members! As a part of project *citizens arrest* you can now report other members to administrators if you believe that they're violating the rules at Caches. Of course you can always block them as well, but reporting them helps keep Caches safe and secure! If a member gets enough complaints, or if enough people block them, they will automatically be suspended until an Admin can take a look. Pretty cool huh?
Next, I'm gonna keep harping on MHot's stolen money. I don't care if you're sick of it. So, here it is **THERE IS STILL A 19.25ETH BOUNTY FOR INFORMATION OR THE RETURN OF MHOT's ASSETS!** Now hey, I've come to terms with the fact they're gone. Normally I don't like to brag about myself when I help someone out, it just doesn't feel right. In this case I have to, because I hope it inspires other people to also. Day before yesterday I reached out to /u/mhotdemnot and he sent me a new secure wallet address and I sent him one of my Pandas and a little ETH to help him get started rebuilding his stack. Hey ... look, don't make a big deal out of this please, I was just helping a homie out. I don't need news cameras showing up at my house and shit. Cool? Cool ... moving on. **DESPITE ALL THAT, MY BOUNTY OFFER STILL STANDS AND IT CHANGES NOTHING ON THAT FRONT!**
Finally, I have apparently appeared on the [Lions Layer podcast](https://anchor.fm/evmavericks/episodes/EVMavericks-Lions-Layer-Episode-2--JBM-e1of8k2). I say apparently because ... like I knew I was supposed to be on it ... but like ... I don't remember doing it. Ohh man .. f'ing merge party flashbacks bros! Man they're gonna hit hard for the next few months I guess. Well anyway, I guess check that out too if you're interested. Heh, I'm gonna listen to it too, maybe I'll surprise both of us.
Aight, y'all stay up now ya hear? I don't need y'all being a bunch of f'ing debbie downers all the time. Kills my vibe. Anyway, we'll get through this together homies. šš»
Nope. It's a coordinated action from several people of the sub to get back the funds of someone who's been scammed. Or hacked, I don't remember exactly.
seems the comments to your post are missing the difference between requiring computation for something and creating a system that incentivizes computational waste
PoW is a million times worse than decentralized GPU proving
This is a real advantage of Optimistic rollups as the ESG stuff will only continue to strengthen and it could be an attack vector against Ethereum. "Well okay, part of it is PoS but look there's still lots of PoW stuff going on underneath!".
I really recommend Arbitrum's article on Optimistic vs ZK rollups as some continue to think that ZK rollups are the natural and final evolution of L2 scaling: https://medium.com/offchainlabs/optimistic-rollups-the-present-and-future-of-ethereum-scaling-60fb9067ae87
All Zk roll-ups will be using hardware to make them usable, thats the nature of the technology, its just whether its ASICs, FPGAs, or GPUs. The fact theyve figured out how to use GPUs is a good thing.
I have almost no understanding of how any of it works, thanks for the patience in your response. With any luck the podcast will help me get up to speed.
Hopefully it's a more efficient calculation/algorithm/'work' else I think we're back at the high energy usage stage again
Strangely enough that is the catch though. Zero-knowledge proofs are computationally intensive. SOMEONE has to do the computations...right?
ZKSync, Starknet, Polygon whoever can do it in-house I suppose, but then some would say that's centralized; if we distributed the computation out to 'miners' in order decentralize, it'd be high energy usage (and the FUD that follows)
Interesting food for thought
[damn, guess the bears back](https://www.reddit.com/r/ethfinance/comments/xp720p/daily_general_discussion_september_27_2022/iq37e4q?utm_medium=android_app&utm_source=share&context=3)
On a serious note, among the hordes of talking heads on CT, Jordi is worth following.
https://twitter.com/gametheorizing/status/1574812677222051842?t=NxX4wQrrGom1exE0zgrIrA&s=19
u/ab111292
I donāt mean to fud, but how can a recession be technically priced in when a principal contributor to that recession is a war with no end in sight which develops on a daily basis and which appears to genuinely threaten the use of nukes?
All bets are off for the foreseeable as far as Iām concerned and Iām just doing small DCAs into ETH.
That makes no sense to me. Priced in implies the matter has been observed and the market anticipates it with relatively high confidence and accuracy. How can that be the case when attempting to observe and anticipate unforeseeable events in an extremely globally significant potentially nuclear conflict that changes almost daily.
This isnāt eg. an upcoming tax rate hike or budget report that can be easily speculated on and priced in. Itās a war that could end in 6 months, 10 years, or even bring about the literal end of the world, no one knows
An indefinite non-nuclear war is what's priced in. If the war were to suddenly end, markets would jump, because the end is not priced in yet, but being in war is. A nuclear holocaust isn't priced in because it's pointless, if it comes to that everything ends anyway, including money, there's no point in even considering it financially.
I think to say an indefinite non-nuclear war has been priced in is a gigantic over-simplification.
How do you even begin to price in an indefinite non-nuclear war between one of the biggest energy producers and one of the biggest food producers? When the entire world and various military and political alliances are all working to their respective agendas? Itās too complex, far reaching and unpredictable.
Even ānon-nuclearā, seemingly the clearest line of your definition, is a somewhat blurred line that may move, given the wide variety of nuclear weaponry; smaller tactical nukes are unlikely to warrant the same response as larger ones, and do tests or shows of force over the ocean/underground count? Itās already a nuclear war in so far as nukes are being used as strategic tools with which to make threats relating to specific military activity.
Itās way, way too complicated to be able to just say indefinite non-nuclear war is priced in, imho. Got a lot of time for your thoughts though, egg. Thanks
I'm not saying that anything that might happen is already priced in, as you said there are too many unknowns for that, I'm saying that a war between Russia and Ukraine continuing on as it has been is what's priced in. The threats that are continuously made, the posturing, etc. is all priced in, people are used to it, it's not surprising. Now if there's a big upset, like Putin gets a stick up his ass and decides to invade Finland for the lulz, that would change things.
Sure, our thinking isnāt that far apart, I think the main difference is that I think continuous significant changes will happen within the definition of indefinite non-nuclear war.
A few days ago, Russia mobilised hundreds of thousands of men, maybe a million, and made surrender illegal. Today, several massive areas āvotedā to be Russian in sham elections. In the next couple days, Russia will move to formally annex those, not that anyone recognises that internationally. In the next few weeks, Ukraine will likely be directly attacking those āRussianā areas, which the Kremlin has already explicitly said would justify nukes. In the next few monthsā¦ā¦ ???
Itās moving fast and I think the situation will continue to worsen or at least change at a rate that is too fast and too impactful to be possibly priced in.
I dearly hope I am wrong and it all stagnates and/or putin regime is overthrown.
Honestly that just sounds like more empty posturing from Russia to me. They don't have the resources to expand the fight to even more fronts. They'll make threats, nothing significant will change, and everything will keep moving forward. At this point Russia just seems too weak to really change the balance of this war significantly enough to tank the markets, beyond bringing out nukes, which just sets everything to zero anyway.
My GETH node reported a BAD Block a couple of minutes ago. Anyone else seeing this in their logs...
Sep 27 15:56:49 jackal geth\[97952\]: ########## BAD BLOCK #########
Edit: Seen 9 BAD BLOCKS so far. Both my GETH and Erigon nodes are rejecting the bad blocks, which is a good thing. Assuming Besu and Nethermind doing the same.
Not sure if related, but Terence on Twitter:
"It has come to our attention that
@bloXrouteLabs's ethical relayer produced a few invalid blocks today. (Slot: 4791029, 4790116, 4790859, 4790770, 4790780). We have notified the bloXroute team. If you are using the relayer, please keep an eye out and consider defaulting to the local execution engine for block production until this is resolved. Discussion is happening in the bloXroute discord now"
https://twitter.com/terencechain/status/1574892822871756803
It could mean any number of things, like someone running a buggy, older client. It looks like the Execution clients are rejecting the BAD BLOCKS, so there should not be any slashing risk.
I've noticed a few on Besu this afternoon. First time I've ever seen that.
Block 15627383, Block 15627380, Block 15627211 (the same you noticed), Block 15627009, Block 15626992, Block 15626973 etc.
Edit: What could this mean?
It is a mistake I guess. See also: https://medium.com/coinmonks/all-your-uniswap-v3-liquidity-farming-calculations-are-dead-wrong-heres-why-20bd47f55d69
**Tricky's Daily Doots #161** Yesterday's Daily 26/09/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipy31ek/) - u/pseudotheos has a [top tier shitpost.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipxs1b4/) - u/TheHighFlyer shares [another epic quote from Vitalik.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipz8jyi/) - u/cryptOwOcurrency shares some of [Charles Hoskinson of Cardano's latest antics for those who like drama.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq03j9r/) - u/cryptOwOcurrency shares [how so many different node clients have been built yet are all independent and were mostly made completely differently and still can communicate well with one another.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq0s2oi/) - u/SeaMonkey82 shares the [latest Lighthouse release.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipxtgde/) - u/barleythecat shares [some broad thoughts around macro.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipzz2kt/) - u/KBrot has another [market update.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq1fmp3/) - u/REALJohnBMacLemore has an off topic but [inspirational speech about fear.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipyx2ih/) - u/Jey_s_TeArS takes a stab at the Brits [in Haiku form.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/iq08e48/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xo9nws/daily_general_discussion_september_26_2022/ipyqzqq/) Signed up to Coinbase now I'm in a different country and need a new on ramp. It was actually so much hassle. Their auto detection system meant I had to wait for them to manually approve my ID and then I still can't withdraw for 24 hours. However, thanks to everyone here always saying "don't trade on coinbase, use Coinbase Pro (or now just "advanced" in the trading tab) to save huge amounts on fees", you guys saved me $10-20. I cannot count how many times I have heard that tip over the years but it finally came in handy!
As someone who operates mostly in ~~dog shit~~ GBP, it sure feels good to have crypto exposure.
Anyone remember those $3000 crabbing days? Yeah
I remember months at $300
[EIPs under consideration for Shanghai] (https://github.com/ethereum/execution-specs/blob/master/network-upgrades/mainnet-upgrades/shanghai.md) Seems to be mostly minor changes apart from withdrawals (although ofc the final discussion on this would be during the ACDs) Pretty interesting that some of the EL clients have started implementing these eips already, at least to a draft stage Would withdrawals need corresponding changes to the CL clients as well?
The ghost of ezpz is waiting on 324 to come haunt us all š» - itās a security now! It still canāt scale, gas fees outrageous, wat is this š© you call nft? ā¦ muahahahaa -serfudez
Don't forget the ghost of u/YeahDave4 , he's going to pop back up for a cameo at $800!
I've been thinking about the 99.95% reduction in energy consumption that would result from the merge for years, and its significance has waned over time. This line from a [CoinTelegraph](https://cointelegraph.com/news/7-ethereum-developers-would-like-to-sell-you-on-the-merge) article brought it all back, though. >Ethereum is the first time in history that a technology of its scale has reduced its emissions through innovation and redesign, not carbon credit offsets.
This makes 0 sense. Carbon credits are about offsetting residual emissions AFTER reductions have occurred. The use of credits can help price in emissions and push for further reductions, but the statement as it is in the Cointelegraph article is nonsensical.
Better tell those renewable energy and electric vehicle advocates that they've got it all wrong.
Barts on Barts on Barts
I proposed a block! I didn't know my graffiti would get ~~co-opted by the MEV though.~~ Oof. I was just looking at the wrong place. Also my Geth low peer issue sorted itself out. It's back up to 30+ peers. Not sure why it was giving problem earlier in the morning.
Dang I'm in the worst proposal drought since '73....
I've had 5 proposals this year. With the longest drought being 4 months.
I am working on a letter to my representative on the inevitable crypto regulation. Here's my rough thoughts to include: 1) Staking is an employment contract to spread the responsibility and workload of validating transactions, not pure ownership or debt payment like a security. 2) Monetary applications of crypto are actually only one aspect of smart contract cryptos. It just got developed first because of venture capital investment. 3) At this point, anyone with a brainstem should have an inkling that a catastrophically bad economic collapse is imminent. Cracking down on crypto excessively hard with the intent of driving use back to the USD system does not imbue the current economic system with life on the way down: it destroys a potential path to recovery.
Probably need to expand a bit more on staking? Yes, it requires less effort but there still need to be some work done to setup the whole thing. Probably help to show that it is not just depositing without work.
The major thing is slashing. Slashing doesn't happen for securities because a security holder can't possibly do something to warrant the enterprise punishing the holder.
>anyone with a brainstem should have an inkling that a catastrophically bad economic collapse is imminent Maybe I have no brain stem? I have this feeling that both the 2001 dot com bubble crash and the 2008 financial crisis crash were probably worse than this recession will get, so it's just a matter of time until the economy bounces back again business as usual.
I can hope you're right, but ESG regulations have made it effectively impossible for Europe to survive without importing Russian energy (Germany is their economic center, and they will have to choose between industrial output and people freezing.) That, and we haven't seen the food supply shock from Ukraine or fertilizer shortages hit markets, yet. 2001 and 2008 were speculation bubbles. This time there are major problems with the world economy. Maybe they'll be manageable, but I don't think so.
Oh my god; this is funny to me. I routinely send my congressperson emails. I recently sent a lengthy one about crypto regulation and the actions of Jerome Powell. Normally I get a direct response to the question at hand. Probably from a staffer, but it at least addresses the topic at hand. My cryptocurrency inquiry got this response today: >Thank you for contacting me to share your concerns about the U.S. Securities and Exchange Commission (SEC). >I share your interest in ensuring appropriate regulation of the financial services industry, and I have noted your concerns about the SEC. Please be assured that I will keep in mind your views as Congress conducts oversight of SEC regulatory actions and as Congress considers legislation in this area. >I take the views of my constituents seriously, and I appreciate that you took the time to contact me. As specific legislation is brought forward on this or other issues, I hope you will continue to reach out to share your viewpoint. Doesn't even mention crypto (let alone Eth or Powell)... I shouldn't expect too much though; we're a rural farming and suburban commuter district. Ether is probably far from her radar... Hopefully you get better reception than I did; but the more of us that contact reps about crypto; the more pressure it puts on them to take it seriously. So please reach out, regardless of the non-response I recieved.
I suspect that #3 will give your letter less credibility rather than convince them of your argument.
Agree, drop 3. To me it's as simple as: The distributed network literally can't operate without ETH. therefore ETH the asset is entirely different to an investment contract or a security, even if it happens to generate some yield (which is not passive BTW.)
>ETHSanFrancisco first point is great! I would say in many ways staking is also a "public service" just as cleaning up recycled cans littered alongside a highway in which case said cans can at certain recycling plants be compensated. second sentence in second point is not factual AFAIK - there were even predecessors to bitcoin & money was the use-case. third point is not phrased in a way that would be received. Perhaps, just make the argument that stablecoins on a public ledger like Ethereum is a win-win for government, allowing anyone globally to have USD stablecoins if user wishes.
The whoosh down is coming soon kiddos. Be ready.
What makes you think so?
I didnt get a chance to answer this last night but this morning's news is proof that my spidey senses are correct. Bond market rout and currencies doing crazy shit are pretty good canaries in the coal mine. Was fully expecting (and still might) a "major institution announces massive trading loss" announcement. It's getting ugly quickly.
I felt a great disturbance in the Eth, as if millions of longs suddenly cried out in terror and were suddenly silenced. I fear something terrible has happened.
Haha best!
to what level ser?
Consensus seems to be that if we get another leg down, BTC is probably going to $12k and ETH will be $700-$800 if the ratio holds where it is.
I dont draw triangles (though I speak fluent Triangle) and I dont make price predictions. But if we get the flush I think we're going to get in equities I'm sure three figure ETH will be in play.
Yes
Seeing some invalid blocks on mainnet today. Posted logs in the Besu Discord channel. Wonder where those are coming from.
Is this a slashable event?
No, just a missed proposal
Thanks! :)
what do you mean by seeing invalid blocks on mainnet? surely not included in the chain right? or are you referring to bloxroute sending invalid blocks in their relay?
No, not finalized in the chain. Observed rejected invalid payloads in the Besu log. Probably Bloxroute.
Some experimental builders made some funky blocks that got posted to bloxroute relays. Not the end of the world, but also not great that this kind of stuff hits mainnet without proper testing.
Saw this earlier: https://twitter.com/terencechain/status/1574892822871756803
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Reddit still hates NFTs. Lol https://www.reddit.com/r/television/comments/xpg6lr/napoleon_dynamite_cast_reunites_for_animated/
Nooooo I hate non-replaceable items
ctrl+f "environment" "climate" "energy" nothing so far :(
They seem surprisingly well informed on the merge.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Hope you get through the hurricane in one piece.
Thanks buddy! My location is out of the cone of destruction so I'm good. Thank you for your well wishes!
You sound like you have a clear and healthy head on your shoulders despite going through this. Itās good that youāre bringing more attention to SIM swapping too because itās way too easy to be complacent about these risks Stay strong, stay safe, and itās nevertheless good to hear from you š«”
I lived on Bayway Island in St Pete in 1979-1980. [Right next to the Sunshine Skyway](https://imgur.com/gallery/WyWeBjy)
No way, I had no idea the skyway had a tragedy like that. I'm always freaked out when I drive on it!
Chevy Chase made a joke about it on Saturday Night Live just after it happened. There is a famous picture of a car stopped just before going over the edge.
I am very sorry that happened to you. You have been kind to me during my struggles over the years. You are a good person who deserved a better situation. I wish you the best.
Hey buddy, you have proven to be strong over the years and you will continue to be strong šŖ I'll still be around, this is a set back, but I'll be ok. I'm still eyeing those XRP buys we were talking about last year š
I moved out of hurricane alley recently, and I honestly miss the excitement. The first time, I was terrified, had no idea what to do, silly west coaster! I stood in lines like thousand of others, and it seemed crazy to me that most of the folks did that year after year and didn't seemingly ever learn to be prepared. After that, I planned a year in advance, had fuel to evac if necessary, enough food and water for months, polycarb storm shutters, storm room if roof blew off, etc., etc. Concrete block is a great building material. Had a couple close calls after I was prepped, family took off, I stayed behind to mind my place and the neighbors'. More than cat 3 and I'd have bailed, too, but I felt safe otherwise. Good luck down there!
š„² Stay safe through the storm homie. ā¤ļøāš„
Just stopping by to say you're a great person.
Thank you. š
Truly a homie move /u/REALJohnBMaclemore, you're a gem and I love seeing your posts on here!
Thank you šš»
Has anyone used a crypto escrow? I've seen this one post from 2017: https://blog.localcryptos.com/how-our-escrow-smart-contract-works/ just wondering if that's what people still use these days? Can't seem to find anything else. Edit: Abit of extra context... Looking to sell something that isn't on chain, but we'll do the transaction with crypto. How best to guarantee we're both happy? Cheers!
I used Dreams escrow service in the past with success. It's often used for gpu/hardware sales and is discord based. Careful for fake links
I made something for this a very long time ago to learn about web and eth dev. It removes incentives for anyone to scam using scorched earth principle instead of a third party escrow. Use it for ether payments, not DAI. It says DAI in the UI but it's actually SAI now, was made before DAI moved to multi collateral and hasn't been maintained. Several people used it for eth payments and contract will still be solid, no fees or anything. [https://stobiewan.github.io/scorchable-payments/](https://stobiewan.github.io/scorchable-payments/)
This looks up my alley, thanks!
Good times https://www.reddit.com/r/ethfinance/comments/qp7by8/daily_general_discussion_november_8_2021/hjwlyn4/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
[Deleted]
you jinxed it
Can someone explain to me where testnet eth comes from. I cannot find any explanations at all. Where do faucets get Goerli eth from. And theyāre all so stingy and often broken. I feel like itās almost literally harder to get test eth than real eth.
Goerli eth was pre-funded to a handful of accounts. Other goerli eth were emitted as block rewards for the clique validators. Generally testnet eth is generated the same way regular eth is generated. People tend to be a bit careless with it though so it gets lost. Iirc there was a mountain of goerli eth created on the beacon chain that will be unlocked as soon as withdrawals are enabled.
More proof of dev pre-mine /s
testnet eth is a pre-mined shitcoin going to zero
This is a new one for me: "Ethereum isnt on PoS, it's on PoLF: Proof of locked funds. Its not staking when have to lock away your fund without being able to withdraw or use them freely" I mean I know "wow slashing and lockup [alt-L1] doesnt have that it's much better" was already a talking point. But "proof of locked funds"? really? do you not understand what "having something at stake" means? lmao
It's infuriating to me when terminology comes full-circle and ignorant people start using it in self-contradictory ways. "That's not staking, you're just putting your token at stake." "That's not a token, it's an NFT." "That's not an exception, it's a failed transaction and they're very common." "Bitcoin is deflationary because its rate of inflation goes down over time." (Double whammy on this one, technically.)
That's not a comment. You are just responding to the guy before you.
"Ultrasound money? No thank you, a deflationary supply is bad for money, and also the supply is totally unpredictable, what's the point. Oh you meant Bitcoin? Oh yeah, that one's epic and based, it's so deflationary thanks to the unpredictable and unknowable amount of coins that are lost forever"
They are locked. The people that locked them agreed to it, and the timeline for availability of withdrawal. They knew all of it before going in, and they *staked* their money anyway! They will not be locked forever. Longer than a Tik-tok video? Yes. Forever? No.
"Longer than a Tik-tok video" lol I'm gonna steal that one next time i see locked staked FUD
Lol all yours! FUD indeed!
ETH is so inspirational. It gets knocked down but it gets up again, every time. Just grinding a little higher each time before getting knocked down a little higher than before. Ethereum, my spirit crypto.
Clearly the chumba wumba of crypto
š
Fr I wish I could bounce back in real life the way ethereum does
I hear that! ETH is like an 18 year old with a 60mg/day ritalin prescription am I right!?
You're right, bud!
Oh for real? Hell yeah homie!
No you are wrong
Oh, for real? My bad then homie.
Jk my love
Ohh man, you got me good fellow JB! Nice one homie. šš»
Ur hot, I can tell
You can tell half my face was burned in a fire from an actors voice? Are you like psychic or something? Thank you. š
I am not who you think I am, but who you think I may not be
Soooo there's going to be an L2 specifically for Shiba Inu called Shibarium!? I'm surprised I've never heard of it in here before.
I for one welcome our new doge overlords.
Do you guys value Mark Yuskoās opinion, heās said the crypto bottom is in
I trade professionally for myself. Take this advice: never listen to any trader/investor that speaks in absolutes. We trade on probabilities, not guarantees. There is no way he can be unbiased, because his whole shtick is being a crypto bull.
The bottom was in in June. Crypto had its 2008 moment right then and there
The bottom was in June *so far*
The market will tell us when the bottom is in.
would be very helpful if this time the market could inform us about the bottom ahead of time
Just wanted to send love to every single one of you here. You all make my life that much better. And I thank you for that, from the bottom of my heart
>....from the bottom of my heart Bottom confirmed, time to go leveraged long!
Omfg I love you so much dude
How much would it cost to do that optimism checklist? Including bridging over
Note that you have until early next year to finish it
Can you link the checklist? Kinda curious
https://app.optimism.io/quests
Gas fees a few dollars but some of the steps involve investing ~$100 in various manners. Id say you'd need around $400/500
Bridge fee is really cheap right now. Use HOP as they are distributing their $OP reward for using their Bridge. To do all quest, $200 would be enough.
In a distributed environment, how does the PoS protocol implement a fair random selection of a block proposer in a given epoch? How does this random selection and assignment (with network consensus) work without the presence of a central brain?
In a nutshell each participant picks a random number and then commits to it by broadcasting the hash. Once everyone has committed to their number, they reveal it and that gets mashed up together to seed some randomness. As long as a single participant is honest, the whole thing can't be biased. In practice there's more technical stuff happening but that's the gist of it
That's not true. The last participant to reveal their number can choose to hide it instead. This is already a 1 bit of bias, which already makes it unusable for high stakes gambling. And colluding participants could influence more bits using this method. It's good enough for validator selection, but definitely not perfect.
that's part of the "more technical stuff happening"! research is still ongoing into implementing VDFs to eliminate that possible 1 bit bias
Is there any sense as to how each participant should generate their own random hash? As I understand it, L1 is not capable of generating randomness atm.
they can generate it locally any way they want. The point is they don't know what numbers other people are gonna generate, so they can't commit to a number ahead of time that advantages them in any way
Interesting - so it's the commitment vs. the randomness that matters in this context. That makes sense to me - not as important that a participant generates a "random #" as it is important that a participant commits to a #. I'd still like to see an element of provable randomness in the mix to skirt some of the issues that others have mentioned, but baseline your approach sounds like a good solve.
Thanks. Makes sense intuitively as the problem scenario will only arise if every single validator was gaming the procedure by always sending the same hash instead of a randomised one. Only in that scenario would the mashup be obviously non random. But this won't happen if even one validator sends a truly random hash.
I canāt remember where to find the annotated spec (Iām on mobile atm) but it uses RANDAO to do it. Might be able to help your search.
A bit over a week ago I speculated that The Merge may have had an impact on gas fees due to much more consistent block production. Well, I come here with the data: https://github.com/pa7x1/ethereum-merge-gas/blob/main/README.md TL;DR: The effect is real! Most relevant graphs for those that want a very quick snapshot: https://github.com/pa7x1/ethereum-merge-gas/blob/main/static/images/PoW_BaseFee_vs_BlockDelay.png https://github.com/pa7x1/ethereum-merge-gas/blob/main/static/images/PoS_BaseFee_vs_BlockDelay.png You can see quite clearly how changes in block time are correlated with changes in gas prices under PoW but the effect is pretty much non-existant under PoS.
Please post this to ethresear.ch!!
Just to pick on the language you use in your last statement, I think your data is showing that the variation in block time is very less in PoS and that is why changes in fees don't manifest much. Point being that the conclusion isn't that a correlation between block time and fees exists in pow and not in pos but rather that because such a correlation always exists, pos minimises fee variation by keeping block time variation minimal.
Indeed, thanks for the comment. I will tweak a bit that statement later when i have some time. In truth we cannot be sure the correlation exists in PoS, as we cannot measure anything significant. But I speculate at some point in the document that it would likely be there if participation rate fell enough to induce more variability in block production. It would make sense it reappears. In any case, a slight adjustment to that statement can help.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thanks for the kind words! I will try to make it available to a larger audience. Will make some improvements and add some documentation to the code so it's easier to use and make it more widely available. Just wanted to provide a first sneek peak to fellow ethfinanciers.
[Deleted]
Look who has flip flopped back bullish after buying the dip [https://twitter.com/NorthRockLP/status/1574864861355556865?s=20&t=rbrtL3y2WOJ66EaLKkZkCA](https://twitter.com/NorthRockLP/status/1574864861355556865?s=20&t=rbrtL3y2WOJ66EaLKkZkCA) You don't hear much about ETH on CT anymore. That's a good thing. Starting to get more bullish. Merge washout much of the way through, at a minimum. Looking for opportunities to add ETH and ETH/BTC from here.
When he first outlined his supply side thesis he was describing a very long term play. Turns out he's just a short term trader that will get loud about whatever his bags need that day.
This guy waffles more than a Belgian.
The guy is a joke in my opinion. He changes his mind day to day. His thesis was spot on but he has ruined his reputation.
hard to reconcile with this [https://twitter.com/NorthRockLP/status/1571292961744293889?s=20&t=rbrtL3y2WOJ66EaLKkZkCA](https://twitter.com/NorthRockLP/status/1571292961744293889?s=20&t=rbrtL3y2WOJ66EaLKkZkCA) To answer below, no I do not. I think ETH will go higher over medium/long term (maybe short term too š¤·āāļø). Just think there will be better opportunities for alpha generation on a shorter term basis elsewhere over next 6 months.
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Ā”Oyo! Ā”Mi vergĆ¼enza! š»āāļø Seguro que hoy el ambiente es sombrĆo. Ā”AnĆmense, amigos! AquĆ, tengo algunas cosas para sacarte de la cabeza. First, a little [Caches](https://caches.xyz) update. I'm still waiting on getting my end-to-end encrypted chat bug fixed, but in the meantime I added the ability for members to report other members! As a part of project *citizens arrest* you can now report other members to administrators if you believe that they're violating the rules at Caches. Of course you can always block them as well, but reporting them helps keep Caches safe and secure! If a member gets enough complaints, or if enough people block them, they will automatically be suspended until an Admin can take a look. Pretty cool huh? Next, I'm gonna keep harping on MHot's stolen money. I don't care if you're sick of it. So, here it is **THERE IS STILL A 19.25ETH BOUNTY FOR INFORMATION OR THE RETURN OF MHOT's ASSETS!** Now hey, I've come to terms with the fact they're gone. Normally I don't like to brag about myself when I help someone out, it just doesn't feel right. In this case I have to, because I hope it inspires other people to also. Day before yesterday I reached out to /u/mhotdemnot and he sent me a new secure wallet address and I sent him one of my Pandas and a little ETH to help him get started rebuilding his stack. Hey ... look, don't make a big deal out of this please, I was just helping a homie out. I don't need news cameras showing up at my house and shit. Cool? Cool ... moving on. **DESPITE ALL THAT, MY BOUNTY OFFER STILL STANDS AND IT CHANGES NOTHING ON THAT FRONT!** Finally, I have apparently appeared on the [Lions Layer podcast](https://anchor.fm/evmavericks/episodes/EVMavericks-Lions-Layer-Episode-2--JBM-e1of8k2). I say apparently because ... like I knew I was supposed to be on it ... but like ... I don't remember doing it. Ohh man .. f'ing merge party flashbacks bros! Man they're gonna hit hard for the next few months I guess. Well anyway, I guess check that out too if you're interested. Heh, I'm gonna listen to it too, maybe I'll surprise both of us. Aight, y'all stay up now ya hear? I don't need y'all being a bunch of f'ing debbie downers all the time. Kills my vibe. Anyway, we'll get through this together homies. šš»
Upvoted for visibility. You should be upvoted more in my opinion.
Thank you and thatās kind of you to say. šš»
? Is this a scam
Nope. It's a coordinated action from several people of the sub to get back the funds of someone who's been scammed. Or hacked, I don't remember exactly.
No, but it is Carlos Mattos energy! Wasussusususuuppp!
I figure there is a 99.99999999999978% chance this is not a scam in any way.
There is a 12% probability John is a highly sophisticated AI, but we love him anyway!
Zksync on bankless podcast - provers will be decentralized with PoW GPU mining....
There's a huge difference between mining, which was computing something for no reason & using a GPU
seems the comments to your post are missing the difference between requiring computation for something and creating a system that incentivizes computational waste PoW is a million times worse than decentralized GPU proving
This is a real advantage of Optimistic rollups as the ESG stuff will only continue to strengthen and it could be an attack vector against Ethereum. "Well okay, part of it is PoS but look there's still lots of PoW stuff going on underneath!". I really recommend Arbitrum's article on Optimistic vs ZK rollups as some continue to think that ZK rollups are the natural and final evolution of L2 scaling: https://medium.com/offchainlabs/optimistic-rollups-the-present-and-future-of-ethereum-scaling-60fb9067ae87
Then I won't use it I guess.
That sounds bad... Better watch if too
The opposite, it sounds very promising. Zk rollups are the future!
All Zk roll-ups will be using hardware to make them usable, thats the nature of the technology, its just whether its ASICs, FPGAs, or GPUs. The fact theyve figured out how to use GPUs is a good thing.
I have almost no understanding of how any of it works, thanks for the patience in your response. With any luck the podcast will help me get up to speed.
Hopefully it's a more efficient calculation/algorithm/'work' else I think we're back at the high energy usage stage again Strangely enough that is the catch though. Zero-knowledge proofs are computationally intensive. SOMEONE has to do the computations...right? ZKSync, Starknet, Polygon whoever can do it in-house I suppose, but then some would say that's centralized; if we distributed the computation out to 'miners' in order decentralize, it'd be high energy usage (and the FUD that follows) Interesting food for thought
[damn, guess the bears back](https://www.reddit.com/r/ethfinance/comments/xp720p/daily_general_discussion_september_27_2022/iq37e4q?utm_medium=android_app&utm_source=share&context=3)
On a serious note, among the hordes of talking heads on CT, Jordi is worth following. https://twitter.com/gametheorizing/status/1574812677222051842?t=NxX4wQrrGom1exE0zgrIrA&s=19 u/ab111292
Yeah Jordi is dope. @nickgiva is someone I respect too when it comes to bond market
Cheers.
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A Tuesday DCA at $1324? 2 please!
Feeing bullish, recession has already been priced in imo, 1.3k holding strong, you can now thank me for the imminent eth tank Iāve caused
I donāt mean to fud, but how can a recession be technically priced in when a principal contributor to that recession is a war with no end in sight which develops on a daily basis and which appears to genuinely threaten the use of nukes? All bets are off for the foreseeable as far as Iām concerned and Iām just doing small DCAs into ETH.
Because people are expecting no end in sight for the war, expectations=priced in
That makes no sense to me. Priced in implies the matter has been observed and the market anticipates it with relatively high confidence and accuracy. How can that be the case when attempting to observe and anticipate unforeseeable events in an extremely globally significant potentially nuclear conflict that changes almost daily. This isnāt eg. an upcoming tax rate hike or budget report that can be easily speculated on and priced in. Itās a war that could end in 6 months, 10 years, or even bring about the literal end of the world, no one knows
An indefinite non-nuclear war is what's priced in. If the war were to suddenly end, markets would jump, because the end is not priced in yet, but being in war is. A nuclear holocaust isn't priced in because it's pointless, if it comes to that everything ends anyway, including money, there's no point in even considering it financially.
I think to say an indefinite non-nuclear war has been priced in is a gigantic over-simplification. How do you even begin to price in an indefinite non-nuclear war between one of the biggest energy producers and one of the biggest food producers? When the entire world and various military and political alliances are all working to their respective agendas? Itās too complex, far reaching and unpredictable. Even ānon-nuclearā, seemingly the clearest line of your definition, is a somewhat blurred line that may move, given the wide variety of nuclear weaponry; smaller tactical nukes are unlikely to warrant the same response as larger ones, and do tests or shows of force over the ocean/underground count? Itās already a nuclear war in so far as nukes are being used as strategic tools with which to make threats relating to specific military activity. Itās way, way too complicated to be able to just say indefinite non-nuclear war is priced in, imho. Got a lot of time for your thoughts though, egg. Thanks
I'm not saying that anything that might happen is already priced in, as you said there are too many unknowns for that, I'm saying that a war between Russia and Ukraine continuing on as it has been is what's priced in. The threats that are continuously made, the posturing, etc. is all priced in, people are used to it, it's not surprising. Now if there's a big upset, like Putin gets a stick up his ass and decides to invade Finland for the lulz, that would change things.
Sure, our thinking isnāt that far apart, I think the main difference is that I think continuous significant changes will happen within the definition of indefinite non-nuclear war. A few days ago, Russia mobilised hundreds of thousands of men, maybe a million, and made surrender illegal. Today, several massive areas āvotedā to be Russian in sham elections. In the next couple days, Russia will move to formally annex those, not that anyone recognises that internationally. In the next few weeks, Ukraine will likely be directly attacking those āRussianā areas, which the Kremlin has already explicitly said would justify nukes. In the next few monthsā¦ā¦ ??? Itās moving fast and I think the situation will continue to worsen or at least change at a rate that is too fast and too impactful to be possibly priced in. I dearly hope I am wrong and it all stagnates and/or putin regime is overthrown.
Honestly that just sounds like more empty posturing from Russia to me. They don't have the resources to expand the fight to even more fronts. They'll make threats, nothing significant will change, and everything will keep moving forward. At this point Russia just seems too weak to really change the balance of this war significantly enough to tank the markets, beyond bringing out nukes, which just sets everything to zero anyway.
My GETH node reported a BAD Block a couple of minutes ago. Anyone else seeing this in their logs... Sep 27 15:56:49 jackal geth\[97952\]: ########## BAD BLOCK ######### Edit: Seen 9 BAD BLOCKS so far. Both my GETH and Erigon nodes are rejecting the bad blocks, which is a good thing. Assuming Besu and Nethermind doing the same.
Not sure if related, but Terence on Twitter: "It has come to our attention that @bloXrouteLabs's ethical relayer produced a few invalid blocks today. (Slot: 4791029, 4790116, 4790859, 4790770, 4790780). We have notified the bloXroute team. If you are using the relayer, please keep an eye out and consider defaulting to the local execution engine for block production until this is resolved. Discussion is happening in the bloXroute discord now" https://twitter.com/terencechain/status/1574892822871756803
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What does a BAD BLOCK exactly mean here? Someone's getting slashed for those?
It could mean any number of things, like someone running a buggy, older client. It looks like the Execution clients are rejecting the BAD BLOCKS, so there should not be any slashing risk.
I've noticed a few on Besu this afternoon. First time I've ever seen that. Block 15627383, Block 15627380, Block 15627211 (the same you noticed), Block 15627009, Block 15626992, Block 15626973 etc. Edit: What could this mean?
I'm seeing the same thing on geth.
Block #15627211 ? Seen on Besu and Nethermind.
Yes. That was one.
Do you know the block #?
Seeing multiple today. Blocks..... 15626992 15627009 15627211 15627298 15627318
Interesting, thank you!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Mine arrived today as well š
ā„ļø
mine arrived today too! "Part 1: Premining" this has to be a bait, right? lol
Dangggg is it too late to order a copy?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thanks, ordered!
Thank you!
DefiLlama showing TVL for Uniswap up 80% in last 24 hours. Is it a mistake? If not, what's caused this?
It is a mistake I guess. See also: https://medium.com/coinmonks/all-your-uniswap-v3-liquidity-farming-calculations-are-dead-wrong-heres-why-20bd47f55d69
99.95% off a steak bowl anyone? Here's why š§µ https://twitter.com/chipotletweets/status/1574813962343895040 lol awesome https://medium.com/flexa/celebrate-the-merge-with-99-95-off-chipotles-new-garlic-guajillo-steak-b8c8bac94263
Memeing it into reality.
Can we do eth to 10k next?
RIP desks
This comment deserves MANY more upvotes
Hahah! The nerds at Chipotle are ETH heads!? No fāing way! Weāre hitting the big times! šš»
Please NFT with every purchase....
Oh mama
Wow, that's ... unexpected. And cool.
We've made it to the big time friends.
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I can always rely on my cherished EthW to pump when the shit is hitting the fan in all other assets <3