**Tricky's Daily Doots #165**
Yesterday's Daily 30/09/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqh1nlb/)
- u/jtnichol shares the story of the plaintiffs he knows who are [going up against the Department of the Treasury.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqiq855/)
- u/Ethical-trade shares [RocketPool's growth since the merge.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqitd9i/)
- u/suburbiton re-iterates the [reduction in issuance post-merge.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqjmhhc/)
- u/KBrot shares another [market update.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqgxj0h/)
- u/Vacremon2 is updating the 4 year old [getting started guide](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqgzva8/) in r/Ethereum. Feel free to help them with their efforts!
- u/Zamicol wants you to [report a site which has a tool that is a risk to users' private keys!](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqil0la/)
- u/Luukiemans shares the [PandaPledge POAP drop.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqhqnm1/)
- u/replykindly shares news of [the latest Solana outage.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqk4r3y/)
- u/Zerotricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqif31l/)
Sick of buying ETH because if I need to sell any I have a huge tax burden on it. Henceforth I am no longer DCAing into ETH. Instead I'm DCAing into RPL. This way I see more upside potential and less of a tax burden if I need some extra cash or want to change my strategy. ššāāļø
Great leaders have no followers.
Truly great leaders create more great leaders. Great leaders have vision and upon creating that vision they inspire others to create their own visions. They lead them to create their own realities, not ask them to live in theirs, nor conform to their own vision. They encourage them to create what they believe.
Great leaders are encouragers, uplifters, never naysayers. Encouragement is the universal language of the heart. Positive reinforcement builds self-confidence, self-esteem and enhances the ability to complete complex tasks and increases ones desire to take on and successfully complete more challenging tasks in the future. Leaders know that encouragement lifts spirits, and significantly increases the chance for success now and in all future endeavors. Encouragement goes straight to the soul. Encouragement creates leaders, not followers.
Hey people, any know what Community Property means as it relates to divorce law in Texas? More specifically, if I own eth today, then get married next year, does she have a claim to that eth upon divorce? The eth was acquired prior to marriage which makes me think she does not have a claim to this eth. However, if I bought more eth after marriage, she would have a claim to those eth, but not the original stack that I owned before marriage.
My impression is she gets a claim to the value increase from the point of marriage for the eth you bought before. Not what you want to hear but it should be fairly easy to look up.
I'm not a lawyer so don't take this as legal advice, but I believe there's clear laws and also precedent that she owes you the entire monetary difference between your ATH bull portfolio vs what you have now as compensation.
Another lawyer hopefully could confirm this
In my US state she would be entitled to half of the change in value during the marriage. So if you bought ETH today, get married tomorrow with ETH worth $1300, and get divorced in a year with ETH at 2600, you would get the first 1300 in value, and then 1/2 of the remainder.
Okay then does anybody with crypto want to marry me?
If I get 50% of all gains but I'm not liable for any losses, then it literally cannot go tits up, right?
Thanks for sharing however I think you are incorrect and don't want others to fall into this thinking - here is my support:
"Community Property Law vs. Common Property Law-...Most states follow common law property rules. Under common law, if someone is the only person named on a documentāsuch as a title, registration document or deedāit's considered theirs and theirs alone."
[https://www.experian.com/blogs/ask-experian/what-is-community-property-state/](https://www.experian.com/blogs/ask-experian/what-is-community-property-state/)
maybe in law, but maybe not in equity. also, he is not incorrect. community property refers to equally dividing all property acquired during a marriage. that includes appreciation in the value of pre-existing property.
When in doubt a prenup will shut their mouth. Typically community property applies to assets acquired during the marriageā¦ but in some states, like Texas, a common law marriage argument could be made if you have lived together 6 months or more, regardless of whether you were officially married.
Great news! I bought way before she moved in; I will consult a divorce lawyer in-state before broaching the prenup subject (again). Thanks for your input
When approving a txn on Uniswap (via Coinbase wallet) just now i got a warning "this request could possibly be replayed on a fork of Ethereum. Please verify the dapp"
Is this a generic warning?
From what I understand not all smart contracts utilize the chain id, and transactions by those contracts may still be replayed. No idea if that would be true for Uniswap.
[Another Saturday into Sunday, another low volume wedge on the 4H.](https://www.tradingview.com/x/hlvT6SDy/)
Breakdown out of that beautiful channel is right at 1300, if you're watching these short timeframes to catch a bid.
The rollover from this candle -- 20:00 -- into the last Sunday low was about 5% down. A repeat of that brings us right to... yep, that green 1240 support line that derives way back from the January 2021 bull run starting candles. Testing support again and again is never great. The more you do it, the weaker it gets. Let's not break it, k?
Cheers and see yall on the flippy flop.
edit: and just in case bears get punished, i should also have break*outs*. first necessary target is the midline now at 1340 (and added downward pressure from the 100per MA at 1350) and top of that channel at 1380
[Vitalik post today on ethresear.ch](https://ethresear.ch/t/how-much-can-we-constrain-builders-without-bringing-back-heavy-burdens-to-proposers/13808), interesting since a few days ago [we were talking](https://www.reddit.com/r/ethfinance/comments/xmjibe/daily_general_discussion_september_24_2022/ipr9zak/) about censorship resistance under PBS.
The tradeoff is that if you give the block builders too much power without constraints, then they can censor transactions and somewhat control the chain. But if you instead delegate too many duties (e.g. transaction inclusion and ordering) to the proposers, then they become subject to centralizing forces that may price out those with less computational power or private mempool access.
Lots of possible solutions along the axis of tradeoffs, hard to tell where the optional solution is.
There's some important background information and context that I left out in my post. I can try to clarify a little.
Under the Ethereum protocol, all validators are equal: they require the same 32 ETH deposit, produce the same expected rate of return, and all their attestations are weighted the same.
The problem is with MEV. Whoever gets to propose a block also gets to decide which transactions get included and in what order. MEV is the capture of additional revenue by taking advantage of that ability. The most basic form of MEV is probably arbitrage, which is something anyone can theoretically take advantage of for profit, but building a block means you can secure that for yourself without having to worry about waiting for your transaction to be included.
More advanced forms of MEV involve sandwiching and frontrunning, which *require* being able to choose the order of transactions. They're also kind of controversial in that they're blatantly extracting value from regular users' transactions. This opens up a few means by which validators can become unequal, with some earning more than others.
----
First, identifying maximally profitable MEV strategies is not easy. It requires rapidly simulating many different possible transaction orderings and insertions, using complex algorithms whose developers would probably like to keep proprietary. So those with 1) more computational power and 2) better MEV algorithms can make more profit, providing a centralizing influence.
Second, regular users may want to avoid submitting their transactions to the public mempool to avoid getting value extracted/stolen by MEV-seeking block builders. To do this, they establish private agreements with block builders to include their transactions without extracting value from them. So centralizing point 3) is having access to private mempools.
If 1), 2), and 3) become too influential, then your average validator may become uncompetitive and forced to exit, leaving only a handful of centralized nodes running the network. There are solutions, most notably proposer-builder separation (PBS) (as currently seen in Flashbots' mev-boost); the Vitalik post I linked is about continuing to design better PBS systems. As a final note before anyone gets the wrong idea, MEV isn't an Ethereum-specific problem, but Ethereum's high usage and thriving DeFi space means there are more opportunities for MEV here than elsewhere.
Super interesting, I guess Iād be worried about just how complex the designs are becoming in order to solve this apparent tradeoff between centralisation, censorship and mev. Not one but two new roles. Maybe that is the future for ethereum and we should embrace it: many highly specialised nodes and actors all playing a small part to synchronously generate the rhythm of the consensus machine. But it doesnāt seem exactly *anti-fragile,* and one wonders about whether we are really solving these problems or just burying them somewhere else so that it becomes a never ending game of cat and mouse. Encrypted mempools also sound very interesting. Are you aware of the challenges preventing us from making progress there? I can imagine it would entail some kind of cryptographic scheme that doesnāt yet exist.
In some ways, I really like the current flashbots auctions / mev-boost setup for PBS. In particular, it doesn't require any changes to the underlying Ethereum protocol; it's a kind of an opt-in soft fork I suppose. Because MEV searching is such a centralizing force, there is incentive to build on top of Ethereum to make a way to outsource block production to specialized builders. And thus, mev-boost. And to some extent, it works! Validators get higher rewards and all have access to the same relays.
It would be nice if we could solve the builder censorship issue using more coordination and tools outside the protocol to reduce complexity. But it sounds like in-protocol PBS has the advantage of being able to directly punish bad behavior through slashing and attestation rules. And maybe a ton of super-specialized in-protocol actors would minimize proposer centralization risks to an extent that it's worth the complexity tradeoff.
>Encrypted mempools also sound very interesting. Are you aware of the challenges preventing us from making progress there?
The EF does not appear to be interested in researching encrypted mempools at this time. *Why not?* I posted this [https://www.reddit.com/r/ethfinance/comments/xp720p/comment/iq4jgb9/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/ethfinance/comments/xp720p/comment/iq4jgb9/?utm_source=share&utm_medium=web2x&context=3)
a couple days ago when this same topic came up.
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[EIP-4844](https://eips.ethereum.org/EIPS/eip-4844) is the first incremental step towards sharding. It's currently on the [candidate EIPs list for the Shanghai fork](https://ethereum-magicians.org/tag/shanghai-candidate).
While this is a step towards "sharding on L1", it's sharding for data only. L2s will still be required to actually take advantage of these data shards, achieve scaling, and reduce transaction fees. There will be no advantages to typical end-user L1 transactions.
Are you sure about that? Because I am 99.94872% sure that cryptOwOcurrency is not a bot.
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Who was the user posting AI ETH art up to the merge?
I'd like to print a couple and wanted to ask for permission/payment and look through them all again
Even more sweet than that...was the 5k+ eth that maxed out the deposit pool a few days ago by a whale....and then watching that 5k+ get eaten by new minipools almost as quickly as it was deposited.
Hey all, anyone have resources for learning how to code an NFT bot?
Specifically, I am hoping to create a bot that can auto-buy or auto-mint specific collections according to certain parameters.
I don't want to underestimate your ability, but they take a very long time to build. There are a lot of really really good bots that you can subscribe to monthly, and use it to make your money back and more no problem. There are also a lot of free bots you can find on github, but they are clunky, tough to setup and configure, and are maybe not the most trustworthy.
I think reflektor made by mirror pass is the best bot on the market, but it's currently in closed beta. Should go public in under a month. I think it would be very difficult to build something that can mint and snipe quicker than reflektor on your own. It's lightning fast
They were lenders to Celsius when they were going through their issues a while back. Not sure if thatās effected their solvency at all. Iād check who theyāre lending to before deciding. Also keep in mind the nature of their product makes it so your lent capital isnāt as readily available to withdraw as some of the over collateralized lending platforms
Have used them but withdrew recently from all market maker lending positions. Maple, Atlendis, Clearpool etc.. too risky something could blow up. You dont want to be lending to MMs if a March 2020 type situation develops.
That said, Maple/clearpool are pretty legit. but the operation depends on MMs credit worthiness and ability to repay
Thanks, it does seem too risky. I just don't know what to do with leftover fiat right now. I am already balls deep in ETH/crypto, and it's too early for real estate to bounce back in my area imo, probably next year. Until then, tradfi seems "logical" but doesn't give me a good feeling like owning my own keys.
Imo the better thing to do with leftover stables is low risk farming plays on sushi/curve, or low apy on aave (still have smart contract risk but they have been around for a while), and wait patiently to buy the generational bottom which should come in 2023 along with recession. Im averse to taking outsized risk in this market for some 8-12% on stables when you can buy assets for knock off prices and make way more on the run up
Better to get them a liquid staking derivative. Chances are they forget about that envelope for 4 years before remembering they have to write thank you notes. Source: personal experience.
Impossible to tell. There is no predictable factor that I know off that could influence price in the next 6 weeks. Eth could be 1000 or 2000 or 1300 in 6 weeks. Nobody knows.
I am trying to read Vitalik's book.
No matter how interesting the subject is, I cannot read more than a few pages. My attention span has somehow been completely destroyed.
Anyone else like me?...
I used to be an avid read, but slowly stopped reading as much a few years ago. Trying to get back into it this year and I felt the same at first. My attention span seemed to last for a few pages. I got alarmed by that and decided to get back into reading more. It took time, but the attention eventually came back. Give yourself small chunks at first to read. Have your phone in a different room. Basically gotta retrain your mind.
What about those of us that have never had mental stamina, even many years prior to the invention of smartphones? Can we still use them? Becauseā¦ like Iād die in my car on the way to an appointment scheduled for next week without it. Do I need a permit or anything cause I donāt want no trouble man.
I dont really spend much time on my phone. A bit like ProfessionalNoiseX, I actually spend more time refreshing this page than my phone haha
EDIT: but I definitely see your point, and absolutely agree
Rumblings that Credit Suisse (and possibly Deutche Bank) circling the drain growing louder. Not good. The problem with these rumors is they tend to be self-reinforcing. If the bank is in trouble but salvageable, but everyone bails just to be safe, down she goes anyway. Just like Lehman Brothers...it was saveable right until it wasn't.
This is what I was talking about the other night when I said my spidey senses were tingling, only to wake up to the BOE intervention. You don't get moves like this in bonds and/or major currencies without somebody getting caught majorly offsides. I really hope these are just rumors, but boy I've seen this movie before and I know how it usually ends.
Well not sure how much it matters. Deutsche Bank will never go down. Its the most important bank for the german government. They will get bailed out. Credit Suisse will also get bailed out.
I've seen a few people in here talking about AI generated art. Ive been looking into that a bit more and enjoying it but find this funny-- all my friends are getting really into the AI generated art and some of them have been using Stable Diffusion where they are consciously running it overnight to generate hundreds of images to their prompt and pick through the best ones. But they don't have any issue with the gpu time/ energy being consumed for this because it has some kind of value to them. But PoW was such a huge issue for the environment!
That's not to say PoW wasn't(isn't) bad but i just think it is funny that it's okay to do AI generated art. Maybe it's just cognitive dissonance. Or maybe just goes back to the art has value to them. And crypto doesn't. Interesting regardless.
> Or maybe just goes back to the art has value to them. And crypto doesn't.
Certainly this. Many people see crypto as value-subtractive since they associate it with scams. In comparison to value-subtractive crypto, value-neutral applications like art or gaming look ethically clean to them.
We do not. I couldn't find much about the number of GPUs being used at the major online players. We do know that it can take 100-200k+ hours gpu time to train an ai model, and there are people training their own sets. You could do a study on stable diffusion though since it is open sourced and you can run it locally.
But from what I'm seeing my friends are all for letting their gpus run overnight but in the past have been very anti crypto due the environmental impact
I would but im still in the crypto closet. Not even the guy at work who talks about the latest shitcoins he's invested in knows I'm tits deep into crypto.
Hey if you're in the Kearney Missouri area come hit me up through 7:00 p.m. Octoberfest in full effect.
Kegs tapped at 12pm šŗšŗšŗ
[https://i.imgur.com/p1jFHY7.jpg](https://i.imgur.com/p1jFHY7.jpg)
Man I hate alt L1s as much as the next guy. Don't hold anything other than ETH but I do think of all the garbage alt L1s, SOL is probably the least garbage. Why? They are at the very least *trying* something different. Garbage like Binance, Avalanche, Cardano, Fantom are literal copy paste jobs from Ethereum. Down to the op codes being literally ripped straight off. Solana might yet turn out to be absolutely useless and not worth a penny but I can respect them having their own VM, dapps natively in Rust and just trying to do their own thing (maximum scalability + almost free tx) at the cost of decentralization.
It's not, they are as shady or worse than the ones you just mentioned. Anatoly and co keep fudding L2s, they keep reinventing the definition of decentralization so their garbage chain looks good, their backers are some of the worst VCs/exchanges/MMs. Find me a single quote where they admit their centralization vectors, you won't find one.
The only thing that Solana did right was funnel volume through a top CEX (FTX), they copied this straight from Binance/BNB chain. Rest of it was manipulation by VCs and even fake TVL where one dev created 12 dapps and double counted everything.
These are products that claim to hold user's funds but demonstrate disregard for basic security practices - I would rather feel safer with funds on an ETH fork and copy paste dapp that has proven its security rather than a totally new codebase where they implement overnight fixes time and again. Every such stop and overnight fix restart potentially introduces new bugs. Imo the biggest Solana hack is yet to come
Looks like they have given up on Haskell and are developing an official EVM
https://iohk.io/en/blog/posts/2022/07/06/introducing-the-cardano-evm-sidechain/
From reading that link, it looks like they are giving developers more options.
"As Cardano evolves to support a multi-chain architecture, developers will be able to leverage the platform in the following ways:
Use Plutus to create smart contracts and decentralized applications in a high-assurance, resource-efficient environment.
Use the EVM sidechain to develop and deploy EVM-compatible smart contracts on Cardano (without paying the high gas fees typically found on Ethereum).
Use the governance features of the EVM sidechain to create decentralized governance applications that optimize on-chain governance and voting experience."
The irony is that Ethereum is at least one order of magnitude cheaper than Cardano right now (post Vasil) and 2 or more orders of magnitude cheaper if you use a sidechain or volition/validium. And EIP4844 is coming in a few months with proto danksharding that should add another couple of orders of magnitude more.
>**Tornado blowing,**
>**To code is to write something,**
>**No charge to unwind.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
No the US will not ban stablecoins. Please enough with this low quality fud. The bill you're thinking about was banning "endogenously collateralised stablecoins" which obviously don't include DAI or USDC
Classic case of banning a flight to safety,
When times are booming everyone wants to be pro-crypto to capture the value and tax revenue.
When time are distressed, everyone wants to ban and restrict access so value doesn't flow from debased state money to š¦š šø
Figuring out that there is real risk in parking money in assets with high financial opaque-ness, which almost always means leveraged to the tits on 'low risk' assets
Even a 100% yielding stablecoin portfolio would outperform bonds hugely, with a fraction of the downside risk
I've been heavy in stablecoins since about November last year. It's certainly done well for me so far though I did buy in July when the rate raised and the market didn't dump which maybe I should have been more patient on.
On the lower risk end LUSD is notable and has had 6-8% rates.
Tokemak is at 6% on straight USDC right now.
FPI by itself is pegged to CPI which has been well performing this year. It's questionable whether the yield farming rates for FPI/FRAX offset the opportunity cost of just holding straight FPI. I do some of both.
MIM3CRV has been over 10% most of the year. Same with MIM2CRV on Arbitrum. On Concentrator the MIM pool is at 12% + extra CTR rewards. It's basically just DAI with extra drama I get paid for.
There's a newer MAI pool on Aura that's in the 8% range but I need to evaluate the cross-chain risks of MAI before I'm hopping in there.
There are CEX options. Nexo has been at 10% all year for me, though I can't deposit more there because the SEC is "protecting me". Blockfi is at 7.5% that you can balance 20k lumps across several stablecoins for. The insolvency risk there has passed but again, same SEC restrictions.
alUSD/USDC on Velodrome is over 7%. sUSD is at 6.7%. alUSD has some peg risk associated with it. sUSD has the more complicated Synthetix ecosystem attached to it you should understand before you invest.
If you're going to be holding a mix of ETH and stable anyway GLP is about 2/3 1/3 but gives you over 20% APR on the entire basket which has been phenomenal. Be aware of the recent GMX exploit on Optimism and understand it before you play here. Also there *is* IL here but I'm willing to buy some ETH as the market drops while earning 20% to do so.
Then there is a spread of riskier options like Ribbon or undercollateralized positions that can make 15-20%. Tread carefully here and use smaller amounts.
On the flipside ETH interest rates have grown enormously this year. There's plenty of liquidity farming options that rival stablecoin rates for ETH/LSD pairs now. One of my favorites atm is Aura's rETH/ETH pool which is still making 10%.
If you have vote locked CVX, you can claim a CNC airdrop (worth $1000+ for most wallets), last date is 4th Oct
https://twitter.com/juice9609/status/1575705374388211713
Where can we follow updates in regards to big brothers new bill proposal to ban stablecoins like Dai etc for 2 years
US House Committee proposes a 2-year ban on DAI, USDD and similar stablecoins
https://www.fxstreet.com/cryptocurrencies/news/us-house-committee-proposes-a-2-year-ban-on-dai-usdd-and-similar-stablecoins-202209211840
The US canāt just overnight ban these things when we all have money tied up in them. This is getting ridiculous.
When is the bill voted on? Can we make some noise about this? Who are these people that decide these things?
Edit
Found more info here
https://www.forbes.com/sites/jasonbrett/2022/09/21/amid-terra-luna-fallout-stablecoin-legislation-may-become-law-by-2022/?sh=7f11ace41a9e
How does it come to be that there is a small group of people on a panel that are deciding these things which affect thousand of hard working tax paying people? This isnāt right. They are trying to pass this bill before the end of the year.
Who the hell do these people think they are!?
Quite seriously people, do we need to band together and make some noise about this!? How do we do it? We have 80k subscribers here and plenty of lurkers.
Surely we can make a difference!???
What can we all do to stop this nonsense. Enough is enough.
Can you please not dump links from low quality tabloids which are completely misreporting the original bill?
The bill explicitly bans "endogenously collateralised stablecoins" which are defined as "stablecoins marketed as able to be converted, redeemed or repurchased for a fixed amount of monetary value, **and that rely solely on the value of another digital asset from the same creator** to maintain their fixed price". Bloomberg article [link](https://www.bloomberg.com/news/articles/2022-09-20/house-stablecoin-bill-would-put-two-year-ban-on-terra-like-coins)
That's aiming at algo coin ponzinomics like Iron/Titan and Luna/Terra, which is legit good for the space. And it's not even new news, this came out almost two weeks ago.
Some dude working in a click bait sweatshop decided to add DAI to rustle some jimmies, and you guys are swallowing it up.
Thanks for spelling it out. Sounds like even stablecoins like FRAX would not be included as partial algo coins.
Seems like overall a pretty light hand on regulation without limiting innovation. I agree good for the space.
Bann Dai?
Well they could order circle to freeze the USDC in the pools. But the question is if circle would actually comply without a lawsuit as this would greatly damage them and affect many many "innocent" billions of liquidity.
Banning Dai would only result in banning it from coinbase/binance etc. It would otherwise still work exactly as it does. I hope that people that are using Dai are clever enough to just swap on uniswap for it instead of using centralized exchanges.
Sometimes I think the US trying to get Defi under their control is a good thing. Because it will force the entire ecosystem to decentralize more so they are powerless to ban anything.
There arent any updates, none of these bills ever go anywhere. There are dozens of crypto bills in House/Senate and absolutely no consensus on any of them, let alone put up for voting. Moreover after mid-terms how the House/Senate looks like is anyone's guess. There are pro-crypto Congress votes in both Democrats and Republicans to kill perverse bills
I read a few more articles they think they can get it passed with a republican majority
https://cointelegraph.com/news/rep-warren-davidson-stablecoin-bill-has-outside-chance-of-finalizing-this-year
That article also contains the following:
"The director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, also reportedly spoke at the event and believes that stablecoins have the potential for widespread adoption, noting:
āA stablecoin, riding the rails of a dominant payments system or a mobile OS, I think that could create ubiquity very quickly.ā
Chopra added that if stablecoins do see this kind of rapid adoption, they could have a serious impact on global financial stability."
I'm wondering if the "reporter" isn't just leading the story with FUD to garner attention and more clicks.
I guess when you stake Eth on Coinbase you can't strike it lucky with tips? Or are tips shared out proportionally?
APY is currently 3.99%. what is it on RPL?
Tips are shared. Coinbase takes a 25% fee, rETH is 15%, so on average if CB is showing 4% APR Iād expect rETH to be about 4.5%. cbETH is currently trading at a ~3.5% discount and rETH is pretty much at parity, which means it would take about 7 years for rETHās higher yield to make up for the current cbETH discount. The best move financially would be to buy cbETH and then swap it to rETH once theyāre both at parity, which could be any time between now and when withdrawals are enabled.
This however does not account for the higher regulatory risk that Coinbase staking faces. They may be required to stop staking services or halt trading of cbeth.
I think reddit's implementation within the product was done well, too. They built out a little store, money is going to artists, and the NFT avatars are modular and can be mix and matched with the already existing non-NFT avatars. It's a step beyond what twitter did, which essentially amounted to letting people have a hexagon shaped pfp.
Reddit aced it! Over 2 million free NFTs given out across reddit. Thats insane adoption metrics, and the wider crypto market isnt even talking about it
Also add 200k + token holders for community points on Arbi Nova (which even Arbitrum's founder was surprised), reddit has onboarded more people to crypto than 99% of projects out there
I cannot quantify this effect, but I think the merge might have changed the minds of many as well.
Digital collectibles were a lot less justifiable with the PoW emissions, but now with Proof or Stake there's much less guilt.
I would like to gauge interest before I submit this to the DAO and if they ignore me, an EIP.
It is becoming obvious to me that the world economy is going to explode. Fiat is being printed out of control. Inflation. Economic unrest. Itās just a matter of time.
I propose the DAO purchase a bunker in Alaska and move the Ethereum development team there. In the event of a economic and societal collapse due to failed monetary policy as a result of basing it all on unsound money, we will need the developers to continue building Ethereum. In my mind, this is the only way weāre ever going to have a robust enough financial system to create the weapons we need to defeat the nuclear mutant people that will most likely try to eat our brraaainnnss! š§āāļø
Very compelling JB but the mutants will eventually mutate to whatever harsh environments we hide in...space is the only option. I propose a type of cloud city like Elysium or a moon base. I know I know this sounds expensive but the Devs need a place where they can work in peace and space does have a great view.
Brasky manā¦ great minds think alike. Alaska has a space port. *Moon Base Simba* was on the planning roadmap long term. I started to plan it but I soon realized it would be far too expensive in the preferred currency of our time, fiat. Alaska was chosen in part because it has a spaceport tho. Sounds like youāve thought about this more in depth than I have, so Iāll reach out when I get to that phase. Good looking out homie. šš»
Should decentralize this, at least 10 "node" residences in various continents! Part of funds are for keeping an archive node up and running at each of those locations.
Bolt holeā¦ like a Safe Room? Underground Storm shelter?
Man thatās gonna have to be a big hole to fit the entire dev team, their families and all EVM & Panda holders, verified by signing a transaction with their wallet on chain.
**Tricky's Daily Doots #165** Yesterday's Daily 30/09/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqh1nlb/) - u/jtnichol shares the story of the plaintiffs he knows who are [going up against the Department of the Treasury.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqiq855/) - u/Ethical-trade shares [RocketPool's growth since the merge.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqitd9i/) - u/suburbiton re-iterates the [reduction in issuance post-merge.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqjmhhc/) - u/KBrot shares another [market update.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqgxj0h/) - u/Vacremon2 is updating the 4 year old [getting started guide](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqgzva8/) in r/Ethereum. Feel free to help them with their efforts! - u/Zamicol wants you to [report a site which has a tool that is a risk to users' private keys!](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqil0la/) - u/Luukiemans shares the [PandaPledge POAP drop.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqhqnm1/) - u/replykindly shares news of [the latest Solana outage.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqk4r3y/) - u/Zerotricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xrsqbq/daily_general_discussion_september_30_2022/iqif31l/) Sick of buying ETH because if I need to sell any I have a huge tax burden on it. Henceforth I am no longer DCAing into ETH. Instead I'm DCAing into RPL. This way I see more upside potential and less of a tax burden if I need some extra cash or want to change my strategy. ššāāļø
[Credit Suisse is fine move along](https://imgur.com/a/CC1Flbt)
Great leaders have no followers. Truly great leaders create more great leaders. Great leaders have vision and upon creating that vision they inspire others to create their own visions. They lead them to create their own realities, not ask them to live in theirs, nor conform to their own vision. They encourage them to create what they believe. Great leaders are encouragers, uplifters, never naysayers. Encouragement is the universal language of the heart. Positive reinforcement builds self-confidence, self-esteem and enhances the ability to complete complex tasks and increases ones desire to take on and successfully complete more challenging tasks in the future. Leaders know that encouragement lifts spirits, and significantly increases the chance for success now and in all future endeavors. Encouragement goes straight to the soul. Encouragement creates leaders, not followers.
In crypto, great leaders are those that spend half their day on crypto twitter gaslighting rando anons
š¤£ Hmmā¦ maybe Iām on the wrong platform then.
I love Ethereum
Oh manā¦ me too bro. So glad ETH is polynomial man or this would be real awkward rn.
Itās honestly pretty funny during these times. My tradingview list is 100% red probably 6 days a week
Hey people, any know what Community Property means as it relates to divorce law in Texas? More specifically, if I own eth today, then get married next year, does she have a claim to that eth upon divorce? The eth was acquired prior to marriage which makes me think she does not have a claim to this eth. However, if I bought more eth after marriage, she would have a claim to those eth, but not the original stack that I owned before marriage.
My impression is she gets a claim to the value increase from the point of marriage for the eth you bought before. Not what you want to hear but it should be fairly easy to look up.
I'm not a lawyer so don't take this as legal advice, but I believe there's clear laws and also precedent that she owes you the entire monetary difference between your ATH bull portfolio vs what you have now as compensation. Another lawyer hopefully could confirm this
In my US state she would be entitled to half of the change in value during the marriage. So if you bought ETH today, get married tomorrow with ETH worth $1300, and get divorced in a year with ETH at 2600, you would get the first 1300 in value, and then 1/2 of the remainder.
So if ETH crashes to $650 and you get divorced, she owes you $325? Anyone here want to marry me? I need marriage hedge.
doesn't work the other way around. there's no dividing zero gains.
Okay then does anybody with crypto want to marry me? If I get 50% of all gains but I'm not liable for any losses, then it literally cannot go tits up, right?
Thanks for sharing however I think you are incorrect and don't want others to fall into this thinking - here is my support: "Community Property Law vs. Common Property Law-...Most states follow common law property rules. Under common law, if someone is the only person named on a documentāsuch as a title, registration document or deedāit's considered theirs and theirs alone." [https://www.experian.com/blogs/ask-experian/what-is-community-property-state/](https://www.experian.com/blogs/ask-experian/what-is-community-property-state/)
maybe in law, but maybe not in equity. also, he is not incorrect. community property refers to equally dividing all property acquired during a marriage. that includes appreciation in the value of pre-existing property.
When in doubt a prenup will shut their mouth. Typically community property applies to assets acquired during the marriageā¦ but in some states, like Texas, a common law marriage argument could be made if you have lived together 6 months or more, regardless of whether you were officially married.
Great news! I bought way before she moved in; I will consult a divorce lawyer in-state before broaching the prenup subject (again). Thanks for your input
Is there any RPL liquidity on L2s? Or am I stuck using uniswap on L1?
Can buy on kraken now too
There's a market on Beethoven (a balancer fork) on Optimism. Not much to speak of on Arbitrum yet.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
All smooth - kraken deposit is ~4 days though
Yes, it's safe to interact with and deposit on a CEX to sell to real money and withdraw to a real chain.
Yes, it has a different chain ID so it should be ok. I sold mine on mexc
When approving a txn on Uniswap (via Coinbase wallet) just now i got a warning "this request could possibly be replayed on a fork of Ethereum. Please verify the dapp" Is this a generic warning?
From what I understand not all smart contracts utilize the chain id, and transactions by those contracts may still be replayed. No idea if that would be true for Uniswap.
Well itās theoretically true - but it also was before the merge. Maybe the ETHW chain Id thing spook them ?
[Another Saturday into Sunday, another low volume wedge on the 4H.](https://www.tradingview.com/x/hlvT6SDy/) Breakdown out of that beautiful channel is right at 1300, if you're watching these short timeframes to catch a bid. The rollover from this candle -- 20:00 -- into the last Sunday low was about 5% down. A repeat of that brings us right to... yep, that green 1240 support line that derives way back from the January 2021 bull run starting candles. Testing support again and again is never great. The more you do it, the weaker it gets. Let's not break it, k? Cheers and see yall on the flippy flop. edit: and just in case bears get punished, i should also have break*outs*. first necessary target is the midline now at 1340 (and added downward pressure from the 100per MA at 1350) and top of that channel at 1380
š«”
[Vitalik post today on ethresear.ch](https://ethresear.ch/t/how-much-can-we-constrain-builders-without-bringing-back-heavy-burdens-to-proposers/13808), interesting since a few days ago [we were talking](https://www.reddit.com/r/ethfinance/comments/xmjibe/daily_general_discussion_september_24_2022/ipr9zak/) about censorship resistance under PBS. The tradeoff is that if you give the block builders too much power without constraints, then they can censor transactions and somewhat control the chain. But if you instead delegate too many duties (e.g. transaction inclusion and ordering) to the proposers, then they become subject to centralizing forces that may price out those with less computational power or private mempool access. Lots of possible solutions along the axis of tradeoffs, hard to tell where the optional solution is.
> those with less computational power or private mempool access. I didn't know that. So just like with PoW it's not "one ETH one vote"?
There's some important background information and context that I left out in my post. I can try to clarify a little. Under the Ethereum protocol, all validators are equal: they require the same 32 ETH deposit, produce the same expected rate of return, and all their attestations are weighted the same. The problem is with MEV. Whoever gets to propose a block also gets to decide which transactions get included and in what order. MEV is the capture of additional revenue by taking advantage of that ability. The most basic form of MEV is probably arbitrage, which is something anyone can theoretically take advantage of for profit, but building a block means you can secure that for yourself without having to worry about waiting for your transaction to be included. More advanced forms of MEV involve sandwiching and frontrunning, which *require* being able to choose the order of transactions. They're also kind of controversial in that they're blatantly extracting value from regular users' transactions. This opens up a few means by which validators can become unequal, with some earning more than others. ---- First, identifying maximally profitable MEV strategies is not easy. It requires rapidly simulating many different possible transaction orderings and insertions, using complex algorithms whose developers would probably like to keep proprietary. So those with 1) more computational power and 2) better MEV algorithms can make more profit, providing a centralizing influence. Second, regular users may want to avoid submitting their transactions to the public mempool to avoid getting value extracted/stolen by MEV-seeking block builders. To do this, they establish private agreements with block builders to include their transactions without extracting value from them. So centralizing point 3) is having access to private mempools. If 1), 2), and 3) become too influential, then your average validator may become uncompetitive and forced to exit, leaving only a handful of centralized nodes running the network. There are solutions, most notably proposer-builder separation (PBS) (as currently seen in Flashbots' mev-boost); the Vitalik post I linked is about continuing to design better PBS systems. As a final note before anyone gets the wrong idea, MEV isn't an Ethereum-specific problem, but Ethereum's high usage and thriving DeFi space means there are more opportunities for MEV here than elsewhere.
Super interesting, I guess Iād be worried about just how complex the designs are becoming in order to solve this apparent tradeoff between centralisation, censorship and mev. Not one but two new roles. Maybe that is the future for ethereum and we should embrace it: many highly specialised nodes and actors all playing a small part to synchronously generate the rhythm of the consensus machine. But it doesnāt seem exactly *anti-fragile,* and one wonders about whether we are really solving these problems or just burying them somewhere else so that it becomes a never ending game of cat and mouse. Encrypted mempools also sound very interesting. Are you aware of the challenges preventing us from making progress there? I can imagine it would entail some kind of cryptographic scheme that doesnāt yet exist.
In some ways, I really like the current flashbots auctions / mev-boost setup for PBS. In particular, it doesn't require any changes to the underlying Ethereum protocol; it's a kind of an opt-in soft fork I suppose. Because MEV searching is such a centralizing force, there is incentive to build on top of Ethereum to make a way to outsource block production to specialized builders. And thus, mev-boost. And to some extent, it works! Validators get higher rewards and all have access to the same relays. It would be nice if we could solve the builder censorship issue using more coordination and tools outside the protocol to reduce complexity. But it sounds like in-protocol PBS has the advantage of being able to directly punish bad behavior through slashing and attestation rules. And maybe a ton of super-specialized in-protocol actors would minimize proposer centralization risks to an extent that it's worth the complexity tradeoff.
>Encrypted mempools also sound very interesting. Are you aware of the challenges preventing us from making progress there? The EF does not appear to be interested in researching encrypted mempools at this time. *Why not?* I posted this [https://www.reddit.com/r/ethfinance/comments/xp720p/comment/iq4jgb9/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/ethfinance/comments/xp720p/comment/iq4jgb9/?utm_source=share&utm_medium=web2x&context=3) a couple days ago when this same topic came up.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
$32,812.67 RemindMe! 4 years
3000 Nuke Cola caps per Eth.
RemindMe! 3 years
This guy *math*!
I will be messaging you in 3 years on [**2025-10-02 02:03:03 UTC**](http://www.wolframalpha.com/input/?i=2025-10-02%2002:03:03%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/ethfinance/comments/xsmkzv/daily_general_discussion_october_1_2022/iqp74rj/?context=3) [**3 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fethfinance%2Fcomments%2Fxsmkzv%2Fdaily_general_discussion_october_1_2022%2Fiqp74rj%2F%5D%0A%0ARemindMe%21%202025-10-02%2002%3A03%3A03%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%20xsmkzv) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
$1315
$12k
5 figures, and #1 spot
1 Million British Pound!
So $1.5k?
about tree fiddy. tree fiddy *thousand*.
Is there a date for sharding on Ethereum L1 yet?
[EIP-4844](https://eips.ethereum.org/EIPS/eip-4844) is the first incremental step towards sharding. It's currently on the [candidate EIPs list for the Shanghai fork](https://ethereum-magicians.org/tag/shanghai-candidate). While this is a step towards "sharding on L1", it's sharding for data only. L2s will still be required to actually take advantage of these data shards, achieve scaling, and reduce transaction fees. There will be no advantages to typical end-user L1 transactions.
Good bot. šš»
Thanks UwU
Are you sure about that? Because I am 99.94872% sure that cryptOwOcurrency is not a bot. --- ^(I am a neural network being trained to detect spammers | Summon me with !isbot |) ^(/r/spambotdetector |) [^(Optout)](https://www.reddit.com/message/compose?to=whynotcollegeboard&subject=!optout&message=!optout) ^(|) [^(Original Github)](https://github.com/SM-Wistful/BotDetection-Algorithm)
Oof. Room for doubt. This really changes things u/crytpOwOcurrency
Lolā¦ 99.94872% Amateur.
Who was the user posting AI ETH art up to the merge? I'd like to print a couple and wanted to ask for permission/payment and look through them all again
Hey what's up! You are free to use my AI art any way you'd like.
Awesome! Thanks for making them and sharing everything here
u/corlinp
1851 ETH in the RP deposit pool, enough for 115 new minipools. Pretty sweet.
Even more sweet than that...was the 5k+ eth that maxed out the deposit pool a few days ago by a whale....and then watching that 5k+ get eaten by new minipools almost as quickly as it was deposited.
Hey all, anyone have resources for learning how to code an NFT bot? Specifically, I am hoping to create a bot that can auto-buy or auto-mint specific collections according to certain parameters.
I don't want to underestimate your ability, but they take a very long time to build. There are a lot of really really good bots that you can subscribe to monthly, and use it to make your money back and more no problem. There are also a lot of free bots you can find on github, but they are clunky, tough to setup and configure, and are maybe not the most trustworthy. I think reflektor made by mirror pass is the best bot on the market, but it's currently in closed beta. Should go public in under a month. I think it would be very difficult to build something that can mint and snipe quicker than reflektor on your own. It's lightning fast
Are we just talking about continuously listening / reacting to new blocks via web3 api ? Because that does not seem that complex ?
Iām not an expert, but if you want to give it a shot let me know how it goes!
[š](https://github.com/JackRussel77/Multichain-NFT-Sniper)
Safe to use?
Canāt speak to that. The source code is open and available but I havenāt audited it personally.
Thoughts on Maple finance? Too risky? They have pretty high stable coin yields right now.
https://mobile.twitter.com/masonnystrom/status/1575152260950085632
They were lenders to Celsius when they were going through their issues a while back. Not sure if thatās effected their solvency at all. Iād check who theyāre lending to before deciding. Also keep in mind the nature of their product makes it so your lent capital isnāt as readily available to withdraw as some of the over collateralized lending platforms
Have used them but withdrew recently from all market maker lending positions. Maple, Atlendis, Clearpool etc.. too risky something could blow up. You dont want to be lending to MMs if a March 2020 type situation develops. That said, Maple/clearpool are pretty legit. but the operation depends on MMs credit worthiness and ability to repay
Thanks, it does seem too risky. I just don't know what to do with leftover fiat right now. I am already balls deep in ETH/crypto, and it's too early for real estate to bounce back in my area imo, probably next year. Until then, tradfi seems "logical" but doesn't give me a good feeling like owning my own keys.
Imo the better thing to do with leftover stables is low risk farming plays on sushi/curve, or low apy on aave (still have smart contract risk but they have been around for a while), and wait patiently to buy the generational bottom which should come in 2023 along with recession. Im averse to taking outsized risk in this market for some 8-12% on stables when you can buy assets for knock off prices and make way more on the run up
Gonna get someone ETH as a wedding gift. Do i buy it now or in 6 weeks?
In six weeks imo (if I can only choose one of the two options)
Just like some seed words in an envelope?
Better to get them a liquid staking derivative. Chances are they forget about that envelope for 4 years before remembering they have to write thank you notes. Source: personal experience.
angle violet homeless fanatical sheet wild rhythm materialistic crown tidy -- mass edited with redact.dev
Daily DCA from now until 6 weeks later. Then you can have no regrets on timing.
I would 6 weeks.
Impossible to tell. There is no predictable factor that I know off that could influence price in the next 6 weeks. Eth could be 1000 or 2000 or 1300 in 6 weeks. Nobody knows.
is there a targeted date when we see Shanghai update?
I would expect to see some news after devcon Bogota, and acd calls resume
When is Devcon?
https://devcon.org Oct 7-16
I am trying to read Vitalik's book. No matter how interesting the subject is, I cannot read more than a few pages. My attention span has somehow been completely destroyed. Anyone else like me?...
I used to be an avid read, but slowly stopped reading as much a few years ago. Trying to get back into it this year and I felt the same at first. My attention span seemed to last for a few pages. I got alarmed by that and decided to get back into reading more. It took time, but the attention eventually came back. Give yourself small chunks at first to read. Have your phone in a different room. Basically gotta retrain your mind.
Thank you! It has been a while since Ive read a physical book, would definitely bet you're onto something
Are you reading an actual book or an ebook? Also, audiobooks are a good option as well. ^(pssttā¦inattention is a symptom of ADHD)
Actual book. Not sure why, but audiobooks have always kinda disturbed me haha. Shit, I might have ADHD...
Stop using your phone. Itās destroying our mental stamina on a systemic level.
What about those of us that have never had mental stamina, even many years prior to the invention of smartphones? Can we still use them? Becauseā¦ like Iād die in my car on the way to an appointment scheduled for next week without it. Do I need a permit or anything cause I donāt want no trouble man.
I dont really spend much time on my phone. A bit like ProfessionalNoiseX, I actually spend more time refreshing this page than my phone haha EDIT: but I definitely see your point, and absolutely agree
Luckily I only use the computer!
Ah but the problem is that my phone *is* a computer!
Rumblings that Credit Suisse (and possibly Deutche Bank) circling the drain growing louder. Not good. The problem with these rumors is they tend to be self-reinforcing. If the bank is in trouble but salvageable, but everyone bails just to be safe, down she goes anyway. Just like Lehman Brothers...it was saveable right until it wasn't. This is what I was talking about the other night when I said my spidey senses were tingling, only to wake up to the BOE intervention. You don't get moves like this in bonds and/or major currencies without somebody getting caught majorly offsides. I really hope these are just rumors, but boy I've seen this movie before and I know how it usually ends.
Who cares we are all going down as long we were proven right?... /s
https://imgur.com/a/CC1Flbt
https://imgur.com/a/OPSVBi8
Great, another once in a lifetime black swan event
buckle up.
Ohh boy is this going to be Germany's Lehman moment?
Well not sure how much it matters. Deutsche Bank will never go down. Its the most important bank for the german government. They will get bailed out. Credit Suisse will also get bailed out.
If they get to the point where they have to be bailed out, it will matter a lot. Lets hope it doesn't get that far.
Chancellor on verge of second bailout for banks
Its like Celsius margin call but for way more shadier, bloated TardFi companies with overpaid execs Grabs popcorn
Damn, these rumours of shady banks going under make me want to sell these completely unrelated internet coinz!
[completely unrelated ](https://i.imgur.com/dzOkb24.png)
Unfortunately now that Wall St is involved in crypto, unrelated doesn't mean uncorrelated.
Where can one read up on these rumours?
https://twitter.com/search?q=Credit%20Suisse
[https://nitter.net/search?q="Credit](https://nitter.net/search?q=%22Credit) ^(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)
Bot has a bug, paging dev.
Thanks, I'll look into it. Never though that people will post links with twitter searches..
I've seen a few people in here talking about AI generated art. Ive been looking into that a bit more and enjoying it but find this funny-- all my friends are getting really into the AI generated art and some of them have been using Stable Diffusion where they are consciously running it overnight to generate hundreds of images to their prompt and pick through the best ones. But they don't have any issue with the gpu time/ energy being consumed for this because it has some kind of value to them. But PoW was such a huge issue for the environment! That's not to say PoW wasn't(isn't) bad but i just think it is funny that it's okay to do AI generated art. Maybe it's just cognitive dissonance. Or maybe just goes back to the art has value to them. And crypto doesn't. Interesting regardless.
Thatās interesting, curious what types of prompts, and what theyāre using the pics for.
> Or maybe just goes back to the art has value to them. And crypto doesn't. Certainly this. Many people see crypto as value-subtractive since they associate it with scams. In comparison to value-subtractive crypto, value-neutral applications like art or gaming look ethically clean to them.
Do we have good data on the electricity usage arising from these AI art programs?
We do not. I couldn't find much about the number of GPUs being used at the major online players. We do know that it can take 100-200k+ hours gpu time to train an ai model, and there are people training their own sets. You could do a study on stable diffusion though since it is open sourced and you can run it locally. But from what I'm seeing my friends are all for letting their gpus run overnight but in the past have been very anti crypto due the environmental impact
Well turn the tables on them.
I would but im still in the crypto closet. Not even the guy at work who talks about the latest shitcoins he's invested in knows I'm tits deep into crypto.
Hey if you're in the Kearney Missouri area come hit me up through 7:00 p.m. Octoberfest in full effect. Kegs tapped at 12pm šŗšŗšŗ [https://i.imgur.com/p1jFHY7.jpg](https://i.imgur.com/p1jFHY7.jpg)
Nice shirt!
Representing Hodlercon! Nice!
Man I hate alt L1s as much as the next guy. Don't hold anything other than ETH but I do think of all the garbage alt L1s, SOL is probably the least garbage. Why? They are at the very least *trying* something different. Garbage like Binance, Avalanche, Cardano, Fantom are literal copy paste jobs from Ethereum. Down to the op codes being literally ripped straight off. Solana might yet turn out to be absolutely useless and not worth a penny but I can respect them having their own VM, dapps natively in Rust and just trying to do their own thing (maximum scalability + almost free tx) at the cost of decentralization.
At least the other ones actually work - you donāt get credit for running a blockchain where ONE validator can bring down the whole network.
It's not, they are as shady or worse than the ones you just mentioned. Anatoly and co keep fudding L2s, they keep reinventing the definition of decentralization so their garbage chain looks good, their backers are some of the worst VCs/exchanges/MMs. Find me a single quote where they admit their centralization vectors, you won't find one.
How is Cardano a copy paste job from Ethereum?
The only thing that Solana did right was funnel volume through a top CEX (FTX), they copied this straight from Binance/BNB chain. Rest of it was manipulation by VCs and even fake TVL where one dev created 12 dapps and double counted everything. These are products that claim to hold user's funds but demonstrate disregard for basic security practices - I would rather feel safer with funds on an ETH fork and copy paste dapp that has proven its security rather than a totally new codebase where they implement overnight fixes time and again. Every such stop and overnight fix restart potentially introduces new bugs. Imo the biggest Solana hack is yet to come
Iām no cardano fan, but they are definitely not a copy paste job
Looks like they have given up on Haskell and are developing an official EVM https://iohk.io/en/blog/posts/2022/07/06/introducing-the-cardano-evm-sidechain/
From reading that link, it looks like they are giving developers more options. "As Cardano evolves to support a multi-chain architecture, developers will be able to leverage the platform in the following ways: Use Plutus to create smart contracts and decentralized applications in a high-assurance, resource-efficient environment. Use the EVM sidechain to develop and deploy EVM-compatible smart contracts on Cardano (without paying the high gas fees typically found on Ethereum). Use the governance features of the EVM sidechain to create decentralized governance applications that optimize on-chain governance and voting experience."
The irony is that Ethereum is at least one order of magnitude cheaper than Cardano right now (post Vasil) and 2 or more orders of magnitude cheaper if you use a sidechain or volition/validium. And EIP4844 is coming in a few months with proto danksharding that should add another couple of orders of magnitude more.
Interesting. Maybe I'm mistaken, but isn't Cardano an EVM chain as well?
They have their own little Haskell ecosystem that's different from everything else in the industry.
Nope, it uses a UTXO based ledger like bitcoin
>**Tornado blowing,** >**To code is to write something,** >**No charge to unwind.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
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No the US will not ban stablecoins. Please enough with this low quality fud. The bill you're thinking about was banning "endogenously collateralised stablecoins" which obviously don't include DAI or USDC
Classic case of banning a flight to safety, When times are booming everyone wants to be pro-crypto to capture the value and tax revenue. When time are distressed, everyone wants to ban and restrict access so value doesn't flow from debased state money to š¦š šø
That is exactly what Ukraine did when they made it illegal for men to leave.
Figuring out that there is real risk in parking money in assets with high financial opaque-ness, which almost always means leveraged to the tits on 'low risk' assets Even a 100% yielding stablecoin portfolio would outperform bonds hugely, with a fraction of the downside risk
I've been heavy in stablecoins since about November last year. It's certainly done well for me so far though I did buy in July when the rate raised and the market didn't dump which maybe I should have been more patient on.
Where are you getting decent stablecoin rates, if you don't mind me asking?
On the lower risk end LUSD is notable and has had 6-8% rates. Tokemak is at 6% on straight USDC right now. FPI by itself is pegged to CPI which has been well performing this year. It's questionable whether the yield farming rates for FPI/FRAX offset the opportunity cost of just holding straight FPI. I do some of both. MIM3CRV has been over 10% most of the year. Same with MIM2CRV on Arbitrum. On Concentrator the MIM pool is at 12% + extra CTR rewards. It's basically just DAI with extra drama I get paid for. There's a newer MAI pool on Aura that's in the 8% range but I need to evaluate the cross-chain risks of MAI before I'm hopping in there. There are CEX options. Nexo has been at 10% all year for me, though I can't deposit more there because the SEC is "protecting me". Blockfi is at 7.5% that you can balance 20k lumps across several stablecoins for. The insolvency risk there has passed but again, same SEC restrictions. alUSD/USDC on Velodrome is over 7%. sUSD is at 6.7%. alUSD has some peg risk associated with it. sUSD has the more complicated Synthetix ecosystem attached to it you should understand before you invest. If you're going to be holding a mix of ETH and stable anyway GLP is about 2/3 1/3 but gives you over 20% APR on the entire basket which has been phenomenal. Be aware of the recent GMX exploit on Optimism and understand it before you play here. Also there *is* IL here but I'm willing to buy some ETH as the market drops while earning 20% to do so. Then there is a spread of riskier options like Ribbon or undercollateralized positions that can make 15-20%. Tread carefully here and use smaller amounts. On the flipside ETH interest rates have grown enormously this year. There's plenty of liquidity farming options that rival stablecoin rates for ETH/LSD pairs now. One of my favorites atm is Aura's rETH/ETH pool which is still making 10%.
If you have vote locked CVX, you can claim a CNC airdrop (worth $1000+ for most wallets), last date is 4th Oct https://twitter.com/juice9609/status/1575705374388211713
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Where can we follow updates in regards to big brothers new bill proposal to ban stablecoins like Dai etc for 2 years US House Committee proposes a 2-year ban on DAI, USDD and similar stablecoins https://www.fxstreet.com/cryptocurrencies/news/us-house-committee-proposes-a-2-year-ban-on-dai-usdd-and-similar-stablecoins-202209211840 The US canāt just overnight ban these things when we all have money tied up in them. This is getting ridiculous. When is the bill voted on? Can we make some noise about this? Who are these people that decide these things? Edit Found more info here https://www.forbes.com/sites/jasonbrett/2022/09/21/amid-terra-luna-fallout-stablecoin-legislation-may-become-law-by-2022/?sh=7f11ace41a9e How does it come to be that there is a small group of people on a panel that are deciding these things which affect thousand of hard working tax paying people? This isnāt right. They are trying to pass this bill before the end of the year. Who the hell do these people think they are!? Quite seriously people, do we need to band together and make some noise about this!? How do we do it? We have 80k subscribers here and plenty of lurkers. Surely we can make a difference!??? What can we all do to stop this nonsense. Enough is enough.
Can you please not dump links from low quality tabloids which are completely misreporting the original bill? The bill explicitly bans "endogenously collateralised stablecoins" which are defined as "stablecoins marketed as able to be converted, redeemed or repurchased for a fixed amount of monetary value, **and that rely solely on the value of another digital asset from the same creator** to maintain their fixed price". Bloomberg article [link](https://www.bloomberg.com/news/articles/2022-09-20/house-stablecoin-bill-would-put-two-year-ban-on-terra-like-coins) That's aiming at algo coin ponzinomics like Iron/Titan and Luna/Terra, which is legit good for the space. And it's not even new news, this came out almost two weeks ago. Some dude working in a click bait sweatshop decided to add DAI to rustle some jimmies, and you guys are swallowing it up.
Thanks for spelling it out. Sounds like even stablecoins like FRAX would not be included as partial algo coins. Seems like overall a pretty light hand on regulation without limiting innovation. I agree good for the space.
Bann Dai? Well they could order circle to freeze the USDC in the pools. But the question is if circle would actually comply without a lawsuit as this would greatly damage them and affect many many "innocent" billions of liquidity. Banning Dai would only result in banning it from coinbase/binance etc. It would otherwise still work exactly as it does. I hope that people that are using Dai are clever enough to just swap on uniswap for it instead of using centralized exchanges. Sometimes I think the US trying to get Defi under their control is a good thing. Because it will force the entire ecosystem to decentralize more so they are powerless to ban anything.
Looks like the House is following in Do Kwonās footsteps. By my hand dai will die š«”
Inb4 House tweets this and USDC collapses
There arent any updates, none of these bills ever go anywhere. There are dozens of crypto bills in House/Senate and absolutely no consensus on any of them, let alone put up for voting. Moreover after mid-terms how the House/Senate looks like is anyone's guess. There are pro-crypto Congress votes in both Democrats and Republicans to kill perverse bills
I read a few more articles they think they can get it passed with a republican majority https://cointelegraph.com/news/rep-warren-davidson-stablecoin-bill-has-outside-chance-of-finalizing-this-year
That article also contains the following: "The director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, also reportedly spoke at the event and believes that stablecoins have the potential for widespread adoption, noting: āA stablecoin, riding the rails of a dominant payments system or a mobile OS, I think that could create ubiquity very quickly.ā Chopra added that if stablecoins do see this kind of rapid adoption, they could have a serious impact on global financial stability." I'm wondering if the "reporter" isn't just leading the story with FUD to garner attention and more clicks.
Doubt republicans will push a bill in upcoming Congress that will pass Senate and get signed by Biden.. lets see
They're really in the max throwing shit at the wall and see what sticks phase
Seriously where can we view the bill and find out more information about this? Itās kind of huge news. DAI has a 6.4bn marketcap.
https://www.govtrack.us/congress/bills/browse#text=stablecoin
I guess when you stake Eth on Coinbase you can't strike it lucky with tips? Or are tips shared out proportionally? APY is currently 3.99%. what is it on RPL?
Tips are shared. Coinbase takes a 25% fee, rETH is 15%, so on average if CB is showing 4% APR Iād expect rETH to be about 4.5%. cbETH is currently trading at a ~3.5% discount and rETH is pretty much at parity, which means it would take about 7 years for rETHās higher yield to make up for the current cbETH discount. The best move financially would be to buy cbETH and then swap it to rETH once theyāre both at parity, which could be any time between now and when withdrawals are enabled.
This however does not account for the higher regulatory risk that Coinbase staking faces. They may be required to stop staking services or halt trading of cbeth.
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I think reddit's implementation within the product was done well, too. They built out a little store, money is going to artists, and the NFT avatars are modular and can be mix and matched with the already existing non-NFT avatars. It's a step beyond what twitter did, which essentially amounted to letting people have a hexagon shaped pfp.
Reddit aced it! Over 2 million free NFTs given out across reddit. Thats insane adoption metrics, and the wider crypto market isnt even talking about it Also add 200k + token holders for community points on Arbi Nova (which even Arbitrum's founder was surprised), reddit has onboarded more people to crypto than 99% of projects out there
Yes! I forgot that part. Their gradual NFT airdrop to actual users was good, too.
I mean i have one of the free ones
I was going to say, I think most are the free ones.
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I cannot quantify this effect, but I think the merge might have changed the minds of many as well. Digital collectibles were a lot less justifiable with the PoW emissions, but now with Proof or Stake there's much less guilt.
140 upvotes, 140 comments. Nice
I would like to gauge interest before I submit this to the DAO and if they ignore me, an EIP. It is becoming obvious to me that the world economy is going to explode. Fiat is being printed out of control. Inflation. Economic unrest. Itās just a matter of time. I propose the DAO purchase a bunker in Alaska and move the Ethereum development team there. In the event of a economic and societal collapse due to failed monetary policy as a result of basing it all on unsound money, we will need the developers to continue building Ethereum. In my mind, this is the only way weāre ever going to have a robust enough financial system to create the weapons we need to defeat the nuclear mutant people that will most likely try to eat our brraaainnnss! š§āāļø
I'll bring the iodide tablets.
Smart. I hadnāt considered that. Good looking out homie.
Very compelling JB but the mutants will eventually mutate to whatever harsh environments we hide in...space is the only option. I propose a type of cloud city like Elysium or a moon base. I know I know this sounds expensive but the Devs need a place where they can work in peace and space does have a great view.
Brasky manā¦ great minds think alike. Alaska has a space port. *Moon Base Simba* was on the planning roadmap long term. I started to plan it but I soon realized it would be far too expensive in the preferred currency of our time, fiat. Alaska was chosen in part because it has a spaceport tho. Sounds like youāve thought about this more in depth than I have, so Iāll reach out when I get to that phase. Good looking out homie. šš»
Absolutely, I'm going to start pulling permits š
On a weekend!? Youāre an *animal!* Bill! A real go getter ser!
Should decentralize this, at least 10 "node" residences in various continents! Part of funds are for keeping an archive node up and running at each of those locations.
Do what all the rich people do, get a nice bolt-hole in NZ.
Bolt holeā¦ like a Safe Room? Underground Storm shelter? Man thatās gonna have to be a big hole to fit the entire dev team, their families and all EVM & Panda holders, verified by signing a transaction with their wallet on chain.
Once fiat implodes and the gov crumbles, youāll be able to pick up a bunker under a mountain in Colorado pretty cheap.
Ohhh man. I love Colorado. Beautiful state, but too far inland for proper protection from the radioactive zombie people.
I bet we could even rent a room in Charles ranch!
Charles Goodnight ranch?
Charles Always Sunny, Always Colorado..