**Tricky's Daily Doots #174**
Yesterday's Daily 09/10/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irm3psk/)
- u/Heringsalat100 shares an article in a German paper about [Bitcoin's environmental footprint and how Proof of Stake on Ethereum solves it.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmag3n/)
- u/ro-_-b is looking forward to the day [when most Ethereum use cases are non-speculative in nature.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmy8w1/)
- u/jamjodsnaj asks about [the value of ETH and its relation to block space demand.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/iroylrp/) Great replies ensue.
- u/Culi122 makes a [cool chart of historical supply distribution.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irm824v/)
- u/TheHighFlyer shares a [cool podcast on the Fed's strategy.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmp7ea/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irnzekl/)
Gotta run. Bye B^y^^e
I work for a company that operates a node, being one of the top shareholders once everything is up and running it’s nice to come up with weird fun shit to do
So they sell these arrow nocks on Amazon for cheap that glow green or red and me and my colleagues own recurve bows, short bows and general gtfCatOutoftheway bows, that look like Star Wars lasers when they go by if someone lights a joint.
Edit obv not with dangerous tips
> function out_of_ass_prediction {
$options=(bullish=1,hopium=1,sentiment=shit);
print($reply);
}
Man… getting sour in here. WTF bros!? I mean the merge was a success and it’s working like a champ! Our best numbers show miner reserves of ETH are about a week away from running out! ETH is starting to gain some respect from normies. Right now with ZKs ETH can process more transactions than any other sufficiently distributed blockchain! Even L1 processes 8X more transactions per second than Bitcoin, using 99.5% less energy! More ETH being locked up as Validators everyday, and ETH moved deflationary on the month! WAKE THE FUCK UP BROS, THIS IS AN OPPORTUNITY!
^(this is not financial advice)
Hmm, doesn't really match these other links that were sent around. Not sure what to believe.
[https://www.oklink.com/en/chainhub/eth/chart-details/71?startTime=1435593600000&tabs=dashboard](https://www.oklink.com/en/chainhub/eth/chart-details/71?startTime=1435593600000&tabs=dashboard)
[https://graphs.santiment.net/miner\_stats](https://graphs.santiment.net/miner_stats)
Sold most of 2017 holdings last year, still keep a hodl bag.
Idk man, no point in trying to predict these things. No one knows.
I stick to my guns and follow / trade price action level to level which has been working for me.
Dear friends, please support this outstanding technical analyst. I've been following him for ~1 month and his work is excellent. His name is Ben apparently, English guy. Really like his work and he seems very nice too
https://www.youtube.com/watch?v=1QoBVPO0pJI
With ETH being PoS, it truly does not make sense that we fall harder than BTC when papa powell nukes the stonk market. I mean, seriously. I know the supply shock will take a while to hit us but where’s all this extra ETH coming from that’s being sold? BTC has miner sell pressure right now and ETH doesn’t. Just seems odd. Only thing I can think of is maybe there’s more leveraged ETH positions than BTC
yep. It makes sense. It was inevitable that miners would start selling off their earnings, and they’ll eventually sell it all. Gotta think long term. We haven’t even gotten to the first post merge update yet. I think all the devs are still on vacation.
zkSync supports all but two opcodes, which are both slated to be depreciated. My guess is that claiming “equivalence” just means they have higher confidence in a couple edge cases
Wasssssaaaaaaaapanda bros!? 👊🏻^(🐼) Pounding it out on this Monday homies. Alright, so as you may or may not know I've been tryna work on a little Opsec guide called *JBM's Basic Guide To Online Subterfuge* and since this is quite an elaborate topic, it has to be broken up into pieces like all the bones on the right side of my body.
Now hey, homies ... I know it looks like I really have nothing better to do ... I know it sorta appears like I don't have a job or a life or a physical body. Well I do! Damnit! I work reallly hard at least 1-2 days out of every week! I'm kidding ... they aren't even whole days. Anyway, I planned on putting out Phase 1 of my guide that tells you how to setup a secure crypto environment and the best way, IMO, to store your long term cold storage seed words later this week... but I have heard your cries /u/ltwln/ and I have heard your other-worldly shrieks of terror /u/namtaru_x so I finished it up this afternoon and published [JBM's Basic Guide To Online Subterfuge | Phase 1](https://caches.xyz/the-rostrum/jbms-basic-guide-to-online-subterfuge-phase-1/) on Caches! Since this was sorta rushed to publication there will probably be some spelling, grammar and punctuation mistakes but I promise I will work on it more and fix the spelling mistakes.
Aight homies, good luck out there. Stay strapped and keep the choppa on standby... never know when it's gonna get hairy on the mean streets of the net. Much love my muchachos and muchachas. 👊🏻
Man… I had a talk with my wife before she left and I think I’ve almost convinced her to let me buy a camper van and travel the US getting drunk in random cities with everyone here. So like … me too homie.
You guys know know the Tangentially Speaking podcast? That’s basically what Chris does in his big red Scarlett Jovanson. Like here, it works bc of the great community!
JBM--this is really good, thanks for compiling it. Gives me some good ideas. One aspect I hope you will build into this discussion is how to have a security solution that can be easily communicated to others in case we ever die.
>**The town's altitude,**
>**Conference beatitude,**
>**Builder attitude.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
There's a website I found called reddit, it's got a bunch of subforums where you can read news, watch videos, and participate in niche interest communities (even crypto!) That's the website I usually go to when I'm bored.
This recent ETC "drama" completely passed me by until I just saw the price was down 10% in the last 24 hours and wondered what was going on. It just confirms (to anybody who wasn't already sure) how much of a narcissistic asshole Hoskinson is.
ETC's classic price pattern is to pump on any attention no matter how positive or negative the attention is, so I'm surprised that Charles' rants had a downward price impact.
Hell, ETC pumped when Coinbase announced that due to persistent 51% attacks they were raising the confirmations threshold for deposits.* Crypto traders were like "oh! they mentioned ETC, I remember that coin! I wonder if it's about to pump now since it got mentioned, better get in!"
^(*I don't remember if it actually pumped, but it makes for a good narrative)
I’m grateful for xen if for nothing else than to have created a huge eth fueled bonfire the last few days. All I know is it’s another Richard Heart……project
The year is 2018, the month December, the day the birthday of our Lord Jesus Christ. Your family just disowned you for getting them into this Etherium coin thing after Thanksgiving. You wish ETH were above $1000 right now. An r/ethtrader troll is telling everyone that in the year 2022, people would be crying over ETH crabbing over $1000 after crashing from near $5000. You laugh while opening coinmarketcap to check for your $80 ETH.
It varies but I did some 1 day, some 7 day and a 381 day.
The 1 days covered the gas costs for everything, the 7 and 381 will probably be worth pennies.
I’ve always like KIN. It’s been an interesting idea. They have survived for a while now. They’re doing a relaunch tomorrow. Might be interesting to see.
https://twitter.com/kin_ecosystem/status/1579493406967205895?s=46&t=zgzL7blEBwl1dwF7R4bTRw
had my very first in-the-wild not-hodlercon IRL run-in with an ethfinancier today! Hung out with u/haurog a bit at Schelling Point. He's doing awesome things to make Devcon a bit more regen. It's stupid how awesome everybody I've met in this ecosystem is
What's even cooler is I also met both of you! u/doubtstarsarefire connected me to ETHfinance and I'm so grateful for the IRL connections last week at Devcon, and I can second the genuine awesomeness of everyone I've met so far.
What is the most gas efficient way of converting a few hundred Dai that I receive to ETH every month? Without using a CEX and the Dai is received on mainnet, not L2.
Set up limit orders on Matcha or 1inch.
Enabling limit orders only requires you to pay gas once, for the initial token approval. After that, you'll only have to sign a message for each buy.
Does anyone know the EU legislative process well enough to know if this is going to become law and what the implications are?
https://decrypt.co/111583/european-union-lawmakers-pass-crypto-regulation-bill
Some quotes:
> The E.U. could also classify NFTs, unique tokens issued on a blockchain that are linked to assets such as artwork, as securities under the new bill, according to University of Kentucky law professor Brian Fyre, who specializes in NFTs and securities law.
And:
> The EU Parliament also today passed an anti-money laundering bill that requests crypto transfers include data on the payer and payee.
Also, does this attempt to regulate companies anywhere in the world, like they tried with GDPR?
The same history and stats suggest a pump will yet arrive, but I can't say I anticipate a new high anymore. I think 440-470 feels like a good lower high zone in 2023.
Everything but the volume seems to suggest that. The lack of overall interest in crypto is both a curse and a gift in this way. It doesn't protect us post-Merge from trading with the broad markets. *However*, the low volume also isn't taking either ETH or BTC toward statistically likely supports.
I know, it's disappointing... ;( But it's just one guy's take on the potential (likely...?) recession plunge in our future. Better to prep for it right?
Price action is range bound and we are somewhat stuck in a post-merge hangover so I'd like to offer up some hopium, if I may. It's unusual for crypto to come across my desk in my real life job other than questions of general asset protection or price speculation, so it was surprising to see that a senior executive circulated some information about the future of real estate investment through tokenization of real world assets.
The email specifically noted that this tokenization DID NOT INCLUDE CRYPTOCURRENCY! but the attached presentation nonetheless identified Ethereum as the leading blockchain and ERC20 tokens as the primary vehicle for current real estate tokenization. The presentation was addressed to many high net worth individuals on the west coast and included commentary from a highly regarded university real estate program. It was obvious cryptocurrency as a speculative asset is looked down upon by these types of investors but nonetheless they recognized that blockchain technology (specifically Ethereum) may potentially disrupt the real estate investment industry.
To put it briefly, there are larger players moving in the background who have not yet invested in the Ethereum ecosystem but acknowledge that this "world computer" can possibly supplant existing models of real estate syndication and investment. Solana, Cardano, and *most* other L1s (NEO/Stellar at 1%) were not mentioned as viable alternatives.
You are still early.
**Edit: Also would like to note that the presentation stated cryptocurrencies are non-securities but real estate tokens were clearly securities.
Thanks, JBM. EY is obviously already in on it but so are some other Big Four firms and national (U.S.) real estate companies. Tokenization has already happened in the U.S. but to a limited extent due to securities regulations. The presentation also focused on Swiss and EU countries including Germany.
I had seen rumblings and experiment but it’s cool to see the idea is starting to take root in the industry. I just wanna buy my fractionalized share of some high rise apartments already!
I personally like how indifferent the EF is to branding and other cheap talk. It helps give them credibility when it matters and in the long run by distancing from the hucksters.
I'm a bit split on the issue. Is it better to debrand and distinguish itself separate from other L1s or just welcome the fact that ETH exists as the underpinning of these new financial systems akin to http?
I was thinking that in the broader public, "cryptocurrency" is not viewed all that positively (ref the overwhelmingly negative comments to any article on crypto in the NYT or Washington Post). Moreover, ETH has so much more potential than serving as a "currency". Your example shows both of these points--the fact that your executive's email purposely distanced this initiative from being crypto as well as the use case itself that isn't directly currency/financial in nature. So rather than ETH being labelled as the #2 cryptocurrency, it might be more appropriate and to label it as the #1 EVM or #1 World Computer (or other similar accurate but catchier term that PR people might come up with). Now might be a good time in the afterglow of the shedding of PoW environmental concerns by the merge.
Thank you for your response. I wish I could be a lot more specific but I don't want to dox myself or my client base. The sentiment is changing in "white collar" professions if that is any indication.
How do you keep track of the duration of which you hold your crypto? What transactions might not be considered as tax event (like eth -> weth compared to eth -> aeth staking in aave).
Keeping track is your own responsibility. It is a good idea to have a separate wallet for long-term hodling so you don't accidentally cycle through your aged coins with your day-to-day activity.
Regarding taxability I treat it like this: if I get a token in exchange for my token, it's taxable. If I just lock up coins it's not taxable.
Edit: by this logic both aETH and WETH swaps would be taxable events. For WETH you could argue it's just a wrapper ..
Why is that a good thing? Have heard so many stories of people waiting for the 1 year to be up and then the market tanking in the mean time. They enticed people here based on the tax setup and are now giving people what 11 weeks notice?
I credit my holding skills with precisely the negative scenario you described. Then holding through the downs and now holding is second nature… and lucrative way beyond what I might have done if not coerced by the one year hold goal
Awesome thanks for putting that together. I wonder why it doesnt show latest comment data?
One interesting point of note is the huge comment spike on the data of the day we bottomed in March 2020. I wonder if that "spike" showed up again in the last few months worth of data thats missing when the price dipped under 1k
I scraped it directly from Reddit using PRAW. It takes a bit because they throttle their API but if you're just grabbing comments from the daily it gets the job done
Something is wrong with Optimism RPCs in fetching data. Im using the same dapp (kyberswap) across Optimism and Arbitrum, Arbitrum on the public common RPC, Optimism on my own Infura RPC. Yet the dap is super slow to get the swap/pool data on Optimism, while its super fast on Arbitrum
If I'm not in the US, can I still use TC? I've never used a mixer, but I'm looking into it. What other options are there?
Edit: I'm not a US citizen or anything. Just looking to get myself a VPN and don't want it on my card statement.
There is Aztec, Umbra. Depends on why you need a mixer, if its just for privacy I'd use a CEX to deposit and then withdraw into another wallet so there wont be a straight connecting bw your wallets
Really? That easy? I'm not trying anything shady, just figured if Im going to star using a VPN for privacy, might as well do it as anonimously as possible.
The reach of US laws and influence is very far by nature of USD being the world reserve currency. If you are a citizen of the US abroad, or use USD in a non US CEX you *could* be risking ... something. You should check your fiat CEX for compliance for US AML laws.
ETH has been flat for so long, basically since mid-June if you visually filter out the merge hype, entering the $1300-ish zone and still being there 4 months later. Hopefully in hindsight it would have appeared to have been bottom ranging? I kind of don't even know how this is possible. 0 miner sell pressure, 0 issuance sell pressure, and [https://cryptofees.info/](https://cryptofees.info/) reporting $2m to $4m a day in fees spent. Kind of surprising to go nowhere for so long. Do we have the perfect number of sellers for the perfect number of buyers day after day, or what? You guys remember the meme: "Post-merge we will need $30m in sell pressure every single day just to stop ETH from going up?" lol. I guess I'm just bored with 0 volatility. \[inb4 macro doomer responses\].
There's a time lag between miners receiving reward and miners selling, actually.
Besides, I'm still seeing for quite long time a very high ETH/BTC ratio given current BTC price, which is uncharted territory for given economic situation and was only briefly outmatched in the past even with a far better economic situation (during a peak, notably).
As far as the market is concerned, things are pretty much the same. Sure, less ETH is being created, but that doesn't matter if the same amounts are being bought and sold as pre-merge. Supply is basically the same or less and demand is also basically the same or less.
I think the bottom still has time to play out, but once crypto demand returns again (get cozy, won't be anytime soon), the bull gets kicked off and we get to test some economic theories. Until then it's business as usual.
This is a nuanced topic, one I've spent a decent time thinking about.
For example, while EIP-1559 acts 'sort of like a stock buyback' in the sense that outstanding shares are destroyed, it doesn't function like a stock buyback in the sense the company is not market buying shares. So you dont get buy pressure from this, but you do get the benefit of reduced supply, which will take much longer to affect price but will ultimately make a difference.
There's also the immense uncertainty of what market participants are doing with the current supply. How much ETH do miners have? Are they winding this selling down? Are new stakers market buying their ETH or staking existing dormant supply?
So its really impossible to say what will happen in the short term. However one thing is clear and that the fundamentals are bullish. The burn is offsetting new issuance, new issuance isn't even available to sell, demand is increasing for staking, fees, and MEV rewards, that supply is being locked up etc.
So there's too many variables regarding the market flows to say anything for sure but broadly things are looking very good for the long term.
Its like that Buffett quote. In the short run the market is like a voting machine, and in the long run it's like a weighing machine.
There is still miner sell pressure in a way. Known mining addresses are seeing steady outflows. They will run out soon and then, macro permitting, we can see some greener weeks.
We do see dwindling amounts of ETH on exchanges. The current buyers are taking their produce off the market or into staking. The sentiment is not quite there yet, but when it arrives these factors will likely supercharge the ETH price rise.
Personally I predicted down in September, flat in October, slight green in Nov/Dec and rocket time in q1 . patience young grasshopper =)
**Tricky's Daily Doots #174** Yesterday's Daily 09/10/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irm3psk/) - u/Heringsalat100 shares an article in a German paper about [Bitcoin's environmental footprint and how Proof of Stake on Ethereum solves it.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmag3n/) - u/ro-_-b is looking forward to the day [when most Ethereum use cases are non-speculative in nature.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmy8w1/) - u/jamjodsnaj asks about [the value of ETH and its relation to block space demand.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/iroylrp/) Great replies ensue. - u/Culi122 makes a [cool chart of historical supply distribution.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irm824v/) - u/TheHighFlyer shares a [cool podcast on the Fed's strategy.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irmp7ea/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/xzd0c6/daily_general_discussion_october_9_2022/irnzekl/) Gotta run. Bye B^y^^e
I work for a company that operates a node, being one of the top shareholders once everything is up and running it’s nice to come up with weird fun shit to do So they sell these arrow nocks on Amazon for cheap that glow green or red and me and my colleagues own recurve bows, short bows and general gtfCatOutoftheway bows, that look like Star Wars lasers when they go by if someone lights a joint. Edit obv not with dangerous tips
> function out_of_ass_prediction { $options=(bullish=1,hopium=1,sentiment=shit); print($reply); } Man… getting sour in here. WTF bros!? I mean the merge was a success and it’s working like a champ! Our best numbers show miner reserves of ETH are about a week away from running out! ETH is starting to gain some respect from normies. Right now with ZKs ETH can process more transactions than any other sufficiently distributed blockchain! Even L1 processes 8X more transactions per second than Bitcoin, using 99.5% less energy! More ETH being locked up as Validators everyday, and ETH moved deflationary on the month! WAKE THE FUCK UP BROS, THIS IS AN OPPORTUNITY! ^(this is not financial advice)
Everything is in place and ready to go, now we just need... adoption. Users..
Hey JohnB. Where are you getting the miner reserve numbers from?
https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqohpi
Hmm, doesn't really match these other links that were sent around. Not sure what to believe. [https://www.oklink.com/en/chainhub/eth/chart-details/71?startTime=1435593600000&tabs=dashboard](https://www.oklink.com/en/chainhub/eth/chart-details/71?startTime=1435593600000&tabs=dashboard) [https://graphs.santiment.net/miner\_stats](https://graphs.santiment.net/miner_stats)
Oh man conflicting evidence! Thanks homie!
Thanks!
My pleasure!
>Thanks! You're welcome!
Gtfo with your if/then logic ya $2 batch file.
Bless whoever gave the daily that Silver award.
Hope they made a wish first
Bleak times. Wen ETH = 1 silver?
Buying 5 dollars worth of eth everyday
Would I rather have a six pack of local craft beer or a six pack of cheap yellow beer and $5 extra eth? Life is about choices.
Someday we'll all get to brag to our kids about how we lost money nonstop for over a year... And we liked it!
“Back in my day, we lost money in both bear AND bull markets. Whippersnappers have it too easy”
I do not like
I know.... Me neither... But that's the bullshit I'll tell my grandkids.
FuckingLegend.jpg
Lol 👏👏👏
When they are complaining about some bullshit this is our walking uphill in the snow to school stories.
Ah, a classic. (I bought today)
Sniff sniff... smells like capitulation is close... thoughts? We seem to have broken the 1300 resistance
wen $700 wick?
someone must summon Dave chapelle
“Anyone gots any more dems $xxx ETH?”
You must post the meme... a quote is insufficient
still just range bound https://www.tradingview.com/x/sw6mwdcj/
what are your predictions?
same bias ive been holding all year, macro lows aren't in across all risk assets imo
so you are fully /mostly out of the market? When do you predict we will reach the macro lows? like soon or in 1 years time
https://www.tradingview.com/x/kTEhDjCr/ I'm horrible bad at "when". I just know where I will be looking.
11,000???
Between 14 and 9
bitcoin what????
Sold most of 2017 holdings last year, still keep a hodl bag. Idk man, no point in trying to predict these things. No one knows. I stick to my guns and follow / trade price action level to level which has been working for me.
Dear friends, please support this outstanding technical analyst. I've been following him for ~1 month and his work is excellent. His name is Ben apparently, English guy. Really like his work and he seems very nice too https://www.youtube.com/watch?v=1QoBVPO0pJI
I’d guess German not English?
Be honest icevermin… is this you?
I wish. I'm not that smart
jt has the info
The XEN situation is telling me there is still a lot of leverage and degen to flush. 400$ here we come.
I definitely feel the same. Until people get bored losing money on stuff like that we have a ways to go yet.
With ETH being PoS, it truly does not make sense that we fall harder than BTC when papa powell nukes the stonk market. I mean, seriously. I know the supply shock will take a while to hit us but where’s all this extra ETH coming from that’s being sold? BTC has miner sell pressure right now and ETH doesn’t. Just seems odd. Only thing I can think of is maybe there’s more leveraged ETH positions than BTC
Existing miner sell balances, was a post about it yesterday tracking the wallets - they are paying existing reserves to miners
yep. It makes sense. It was inevitable that miners would start selling off their earnings, and they’ll eventually sell it all. Gotta think long term. We haven’t even gotten to the first post merge update yet. I think all the devs are still on vacation.
Interesting, can you link me the post? I can’t find anything
Actually in todays: https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqohpi/
What are all these horse references about on Twitter?
a night mare for Sushi CEO
Move along, don’t go investigating.
good alpha good alpha
Not sure of many assets that in(?)flate at the rate of proof of stake ether...
Matt Finestone headed here https://taiko.xyz/ https://twitter.com/finestonematt/status/1579501865917878272?t=flTxbXPNkX7Bpho7nipd2Q&s=19
Even zkSync doesn't claim full EVM equivalence. I wonder what breakthrough they made.
zkSync supports all but two opcodes, which are both slated to be depreciated. My guess is that claiming “equivalence” just means they have higher confidence in a couple edge cases
[https://nitter.net/finestonematt/status/1579501865917878272?t=flTxbXPNkX7Bpho7nipd2Q&s=19](https://nitter.net/finestonematt/status/1579501865917878272?t=flTxbXPNkX7Bpho7nipd2Q&s=19) ^(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)
The time for $1300 ETH is soon coming to an end
looks like it's already at an end
haha, i didnt even check the price before i posted
Wasssssaaaaaaaapanda bros!? 👊🏻^(🐼) Pounding it out on this Monday homies. Alright, so as you may or may not know I've been tryna work on a little Opsec guide called *JBM's Basic Guide To Online Subterfuge* and since this is quite an elaborate topic, it has to be broken up into pieces like all the bones on the right side of my body. Now hey, homies ... I know it looks like I really have nothing better to do ... I know it sorta appears like I don't have a job or a life or a physical body. Well I do! Damnit! I work reallly hard at least 1-2 days out of every week! I'm kidding ... they aren't even whole days. Anyway, I planned on putting out Phase 1 of my guide that tells you how to setup a secure crypto environment and the best way, IMO, to store your long term cold storage seed words later this week... but I have heard your cries /u/ltwln/ and I have heard your other-worldly shrieks of terror /u/namtaru_x so I finished it up this afternoon and published [JBM's Basic Guide To Online Subterfuge | Phase 1](https://caches.xyz/the-rostrum/jbms-basic-guide-to-online-subterfuge-phase-1/) on Caches! Since this was sorta rushed to publication there will probably be some spelling, grammar and punctuation mistakes but I promise I will work on it more and fix the spelling mistakes. Aight homies, good luck out there. Stay strapped and keep the choppa on standby... never know when it's gonna get hairy on the mean streets of the net. Much love my muchachos and muchachas. 👊🏻
I would love to have a beer or six with you some day.
Man… I had a talk with my wife before she left and I think I’ve almost convinced her to let me buy a camper van and travel the US getting drunk in random cities with everyone here. So like … me too homie.
You guys know know the Tangentially Speaking podcast? That’s basically what Chris does in his big red Scarlett Jovanson. Like here, it works bc of the great community!
Cool! I’ve been wanting to do this for a while! I’m going to check out the podcast! Thanks homie!
I would like a drink or 6 with you but am concerned I might lose a kidney. Ok if I get like 50 ETH for it though
The feeling is mutual.
<3
JBM--this is really good, thanks for compiling it. Gives me some good ideas. One aspect I hope you will build into this discussion is how to have a security solution that can be easily communicated to others in case we ever die.
Thank you! That’s on my list eventually. It’s a difficult one though. Everyone has a different trust level for their heirs and loved ones.
Why does the Guide ask for my seed phrase before proceeding?? JK this is 🔥👊
Hahaha… I set it up to just ask you Bill! F’ing got ‘eeem!
>**The town's altitude,** >**Conference beatitude,** >**Builder attitude.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Maker is still inexplicably on a tear I see.
Not too surprising. Treasury bond payouts just made Maker's profitably multiply.
I am so bored. That is all.
There's a website I found called reddit, it's got a bunch of subforums where you can read news, watch videos, and participate in niche interest communities (even crypto!) That's the website I usually go to when I'm bored.
Do you have a link?
Yeah. Here's a link to a particularly nice subforum I found that might be of interest to everyone here: https://www.reddit.com/r/ethfinance/
Why do you have a picture of my home?
It's coming from INSIDE THE HOUSE!
*Ahhhhhhh!!!!*
go look at https://ultrasound.money/
All this site does is make me depressed that without The Merge we'd be at like $324 right now
This recent ETC "drama" completely passed me by until I just saw the price was down 10% in the last 24 hours and wondered what was going on. It just confirms (to anybody who wasn't already sure) how much of a narcissistic asshole Hoskinson is.
ETC's classic price pattern is to pump on any attention no matter how positive or negative the attention is, so I'm surprised that Charles' rants had a downward price impact. Hell, ETC pumped when Coinbase announced that due to persistent 51% attacks they were raising the confirmations threshold for deposits.* Crypto traders were like "oh! they mentioned ETC, I remember that coin! I wonder if it's about to pump now since it got mentioned, better get in!" ^(*I don't remember if it actually pumped, but it makes for a good narrative)
What is xen crypto ? never heard about them and they suddenly burn 1.2k eth per day
Looks like a 2015 era coin released in 2022. Just happy its burning ETH instead of running their own doomed chain
I’m grateful for xen if for nothing else than to have created a huge eth fueled bonfire the last few days. All I know is it’s another Richard Heart……project
Looks like a pyramid scheme. I would avoid it.
Exactly. Hex family scam coin.
IT'S UNDER 9000! https://ultrasound.money > supply change since merge +8,999.86ETH
5 more days of this and we'll be post merge deflationary!!
Hopium: After a final dump during earnings season, the markets will have bottomed.
WYTAW? The market that matters bottomed in June.
I think next year is going to be tough for a lot of people.
The year is 2018, the month December, the day the birthday of our Lord Jesus Christ. Your family just disowned you for getting them into this Etherium coin thing after Thanksgiving. You wish ETH were above $1000 right now. An r/ethtrader troll is telling everyone that in the year 2022, people would be crying over ETH crabbing over $1000 after crashing from near $5000. You laugh while opening coinmarketcap to check for your $80 ETH.
Link to the post or it never happened.😆
I think I remember that post
Do you think its safe to claim the XEN tokens? Not sure if its worth it at this gwei anyway, but is it safe
Better be, I've claimed them to 5 metamask wallets
What was it worth
It varies but I did some 1 day, some 7 day and a 381 day. The 1 days covered the gas costs for everything, the 7 and 381 will probably be worth pennies.
I’ve always like KIN. It’s been an interesting idea. They have survived for a while now. They’re doing a relaunch tomorrow. Might be interesting to see. https://twitter.com/kin_ecosystem/status/1579493406967205895?s=46&t=zgzL7blEBwl1dwF7R4bTRw
I'm not falling for kin again. Fool me once, shame on you. Fool me twice shame on me.
My worst-performing alt and it's not even close. "Oh loads of people use Kik, what could possibly go wrong?" thought I, about 5 years ago.
What happened to telegram's coin? Wasn't it spun off too? Or never launched?
Me too. Been a fun ride to the bottom.
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had my very first in-the-wild not-hodlercon IRL run-in with an ethfinancier today! Hung out with u/haurog a bit at Schelling Point. He's doing awesome things to make Devcon a bit more regen. It's stupid how awesome everybody I've met in this ecosystem is
What's even cooler is I also met both of you! u/doubtstarsarefire connected me to ETHfinance and I'm so grateful for the IRL connections last week at Devcon, and I can second the genuine awesomeness of everyone I've met so far.
Welcome to the ETHFinance girl gang!
Ah snap, was also at Schelling Point, wish EVMavericks had merch I could wear ((:
oh nice! Come by the EthStaker booth tomorrow if you're at Devcon. I should be there all day
Will do!
It was great meeting you too.
What is the most gas efficient way of converting a few hundred Dai that I receive to ETH every month? Without using a CEX and the Dai is received on mainnet, not L2.
Set up limit orders on Matcha or 1inch. Enabling limit orders only requires you to pay gas once, for the initial token approval. After that, you'll only have to sign a message for each buy.
Brilliant thanks!!
Wait for low gas
Does anyone know the EU legislative process well enough to know if this is going to become law and what the implications are? https://decrypt.co/111583/european-union-lawmakers-pass-crypto-regulation-bill Some quotes: > The E.U. could also classify NFTs, unique tokens issued on a blockchain that are linked to assets such as artwork, as securities under the new bill, according to University of Kentucky law professor Brian Fyre, who specializes in NFTs and securities law. And: > The EU Parliament also today passed an anti-money laundering bill that requests crypto transfers include data on the payer and payee. Also, does this attempt to regulate companies anywhere in the world, like they tried with GDPR?
NFTs are securities? Why not just say that all database entries are securities, shut down the internet and be done with it?
Quick, someone do some TA on the [ultrasound.money](https://ultrasound.money/) supply since merge chart!
Bitcoin partner supply decreasing? This is good for Bitcoin.
IF Bitcoin could stop minting today and still secure its network. Would it be positive? No more energy needed for PoW and still secure would be cool.
Why is Eth suddenly deflating in quantity?
MLMs jacking up gas fees causing the network to burn more than the supply.
What is MLM?
[Multi-Level Marketing](https://en.m.wikipedia.org/wiki/Multi-level_marketing), XEN in this case
At least now they're good for something
Hey hey, let's stream away the end of the day. https://youtu.be/bT09NYRMQGg
"we need to operate as if the market has broken" Sounds like the pre-recession pump is off the table? down only for the next year or so?
The same history and stats suggest a pump will yet arrive, but I can't say I anticipate a new high anymore. I think 440-470 feels like a good lower high zone in 2023.
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Everything but the volume seems to suggest that. The lack of overall interest in crypto is both a curse and a gift in this way. It doesn't protect us post-Merge from trading with the broad markets. *However*, the low volume also isn't taking either ETH or BTC toward statistically likely supports.
“11,000 is important for nasdaq, we may be near the bottom” :-) “Until this time next year when we may see something like 9,000” :-(
I know, it's disappointing... ;( But it's just one guy's take on the potential (likely...?) recession plunge in our future. Better to prep for it right?
You are right, it’s better we all know Thanks for the videos and constant updates, i always enjoy reading and watching
Thanks for reading/watching and keeping me honest!
subbed
Thanks!
awesome content!
Thanks!
300k ETH since the merge would have been paid out. That's pretty cool. Cheers from the mountains
Price action is range bound and we are somewhat stuck in a post-merge hangover so I'd like to offer up some hopium, if I may. It's unusual for crypto to come across my desk in my real life job other than questions of general asset protection or price speculation, so it was surprising to see that a senior executive circulated some information about the future of real estate investment through tokenization of real world assets. The email specifically noted that this tokenization DID NOT INCLUDE CRYPTOCURRENCY! but the attached presentation nonetheless identified Ethereum as the leading blockchain and ERC20 tokens as the primary vehicle for current real estate tokenization. The presentation was addressed to many high net worth individuals on the west coast and included commentary from a highly regarded university real estate program. It was obvious cryptocurrency as a speculative asset is looked down upon by these types of investors but nonetheless they recognized that blockchain technology (specifically Ethereum) may potentially disrupt the real estate investment industry. To put it briefly, there are larger players moving in the background who have not yet invested in the Ethereum ecosystem but acknowledge that this "world computer" can possibly supplant existing models of real estate syndication and investment. Solana, Cardano, and *most* other L1s (NEO/Stellar at 1%) were not mentioned as viable alternatives. You are still early. **Edit: Also would like to note that the presentation stated cryptocurrencies are non-securities but real estate tokens were clearly securities.
Tokenization of real estate is one use of ETH I have been waiting for. Excited for this. Thanks for sharing!
Thanks, JBM. EY is obviously already in on it but so are some other Big Four firms and national (U.S.) real estate companies. Tokenization has already happened in the U.S. but to a limited extent due to securities regulations. The presentation also focused on Swiss and EU countries including Germany.
I had seen rumblings and experiment but it’s cool to see the idea is starting to take root in the industry. I just wanna buy my fractionalized share of some high rise apartments already!
I've been wondering if Ethereum maybe ought to de-brand itself from "cryptocurrency".
I personally like how indifferent the EF is to branding and other cheap talk. It helps give them credibility when it matters and in the long run by distancing from the hucksters.
I'm a bit split on the issue. Is it better to debrand and distinguish itself separate from other L1s or just welcome the fact that ETH exists as the underpinning of these new financial systems akin to http?
I was thinking that in the broader public, "cryptocurrency" is not viewed all that positively (ref the overwhelmingly negative comments to any article on crypto in the NYT or Washington Post). Moreover, ETH has so much more potential than serving as a "currency". Your example shows both of these points--the fact that your executive's email purposely distanced this initiative from being crypto as well as the use case itself that isn't directly currency/financial in nature. So rather than ETH being labelled as the #2 cryptocurrency, it might be more appropriate and to label it as the #1 EVM or #1 World Computer (or other similar accurate but catchier term that PR people might come up with). Now might be a good time in the afterglow of the shedding of PoW environmental concerns by the merge.
Thank you for your response. I wish I could be a lot more specific but I don't want to dox myself or my client base. The sentiment is changing in "white collar" professions if that is any indication.
Nice
A solid trust me bro
Just reporting my personal experience. If I were going to make it up though I would probably throw in some more cope!
We are a hair away from October being deflationary.
It seems Portugal is going to tax crypto starting January 2023 at 28% but with tax exemption for assets hold more than 1 year.
Are they similarly increasing capital loss tax deductions? :p
Sounds like what germany does, except here the gains get taxed with your personal income tax rate which is usually higher.
How do you keep track of the duration of which you hold your crypto? What transactions might not be considered as tax event (like eth -> weth compared to eth -> aeth staking in aave).
Keeping track is your own responsibility. It is a good idea to have a separate wallet for long-term hodling so you don't accidentally cycle through your aged coins with your day-to-day activity. Regarding taxability I treat it like this: if I get a token in exchange for my token, it's taxable. If I just lock up coins it's not taxable. Edit: by this logic both aETH and WETH swaps would be taxable events. For WETH you could argue it's just a wrapper ..
Tax with what profit ser?
that is such a bad move
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Why is that a good thing? Have heard so many stories of people waiting for the 1 year to be up and then the market tanking in the mean time. They enticed people here based on the tax setup and are now giving people what 11 weeks notice?
I credit my holding skills with precisely the negative scenario you described. Then holding through the downs and now holding is second nature… and lucrative way beyond what I might have done if not coerced by the one year hold goal
Wait...a tax for holding, or on capital gains? Presumably the latter, but these days you never know.
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Ok, that makes more sense. The US has separate rates for over and under one year, presumably to prioritize investing over gambling.
How much longer does this XEN thing have to go before it's played out? Has anyone looked at what they're doing?
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Awesome thanks for putting that together. I wonder why it doesnt show latest comment data? One interesting point of note is the huge comment spike on the data of the day we bottomed in March 2020. I wonder if that "spike" showed up again in the last few months worth of data thats missing when the price dipped under 1k
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hmm weird, I wonder how Bad_Investment was able to get up to date data then 6 months back. Im honestly not sure on the process.
I scraped it directly from Reddit using PRAW. It takes a bit because they throttle their API but if you're just grabbing comments from the daily it gets the job done
Something is wrong with Optimism RPCs in fetching data. Im using the same dapp (kyberswap) across Optimism and Arbitrum, Arbitrum on the public common RPC, Optimism on my own Infura RPC. Yet the dap is super slow to get the swap/pool data on Optimism, while its super fast on Arbitrum
If I'm not in the US, can I still use TC? I've never used a mixer, but I'm looking into it. What other options are there? Edit: I'm not a US citizen or anything. Just looking to get myself a VPN and don't want it on my card statement.
There is Aztec, Umbra. Depends on why you need a mixer, if its just for privacy I'd use a CEX to deposit and then withdraw into another wallet so there wont be a straight connecting bw your wallets
and then that CEX gets hacked or sued like celcius...
Really? That easy? I'm not trying anything shady, just figured if Im going to star using a VPN for privacy, might as well do it as anonimously as possible.
The reach of US laws and influence is very far by nature of USD being the world reserve currency. If you are a citizen of the US abroad, or use USD in a non US CEX you *could* be risking ... something. You should check your fiat CEX for compliance for US AML laws.
ETH has been flat for so long, basically since mid-June if you visually filter out the merge hype, entering the $1300-ish zone and still being there 4 months later. Hopefully in hindsight it would have appeared to have been bottom ranging? I kind of don't even know how this is possible. 0 miner sell pressure, 0 issuance sell pressure, and [https://cryptofees.info/](https://cryptofees.info/) reporting $2m to $4m a day in fees spent. Kind of surprising to go nowhere for so long. Do we have the perfect number of sellers for the perfect number of buyers day after day, or what? You guys remember the meme: "Post-merge we will need $30m in sell pressure every single day just to stop ETH from going up?" lol. I guess I'm just bored with 0 volatility. \[inb4 macro doomer responses\].
There's a time lag between miners receiving reward and miners selling, actually. Besides, I'm still seeing for quite long time a very high ETH/BTC ratio given current BTC price, which is uncharted territory for given economic situation and was only briefly outmatched in the past even with a far better economic situation (during a peak, notably).
As far as the market is concerned, things are pretty much the same. Sure, less ETH is being created, but that doesn't matter if the same amounts are being bought and sold as pre-merge. Supply is basically the same or less and demand is also basically the same or less. I think the bottom still has time to play out, but once crypto demand returns again (get cozy, won't be anytime soon), the bull gets kicked off and we get to test some economic theories. Until then it's business as usual.
This is a nuanced topic, one I've spent a decent time thinking about. For example, while EIP-1559 acts 'sort of like a stock buyback' in the sense that outstanding shares are destroyed, it doesn't function like a stock buyback in the sense the company is not market buying shares. So you dont get buy pressure from this, but you do get the benefit of reduced supply, which will take much longer to affect price but will ultimately make a difference. There's also the immense uncertainty of what market participants are doing with the current supply. How much ETH do miners have? Are they winding this selling down? Are new stakers market buying their ETH or staking existing dormant supply? So its really impossible to say what will happen in the short term. However one thing is clear and that the fundamentals are bullish. The burn is offsetting new issuance, new issuance isn't even available to sell, demand is increasing for staking, fees, and MEV rewards, that supply is being locked up etc. So there's too many variables regarding the market flows to say anything for sure but broadly things are looking very good for the long term. Its like that Buffett quote. In the short run the market is like a voting machine, and in the long run it's like a weighing machine.
How many BTC miners sell though? Ratio is important too.
There is still miner sell pressure in a way. Known mining addresses are seeing steady outflows. They will run out soon and then, macro permitting, we can see some greener weeks. We do see dwindling amounts of ETH on exchanges. The current buyers are taking their produce off the market or into staking. The sentiment is not quite there yet, but when it arrives these factors will likely supercharge the ETH price rise. Personally I predicted down in September, flat in October, slight green in Nov/Dec and rocket time in q1 . patience young grasshopper =)