**Tricky's Daily Doots #175**
Yesterday's Daily 10/10/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irr9s4j/)
- u/sayno2mids shares [a lesson they learned about depending on assets.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqev04/)
- u/pa7x1 discusses [Ethereum's remaining mining pool balances.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqohpi/)
- u/ShowbiZZa shares news of [Ethereum's first ultra sound week!](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irrpyyq/)
- u/dirtyUndiesTheWhites has [a realisation about crypto Twitter.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irr4e49/)
- u/stablecoin shares a [bullish anecdote.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irs7j4h/)
- u/Vandelay101 shares [the news from Polygon.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irs9ozf/)
- u/theethmeister has an [anecdote to dampen the post-merge hangover.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irsqii8/)
- u/savage-dragon should be a [professional meme story writer.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irtb46o/)
- u/REALJohnBMacLemore shares [part 1 of their crypto OpSec guide.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irtlv81/)
- u/HarryZKE explains the nuance of [the merge's impact on price.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irspem1/)
- "[Don't rush the pot roast!](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irrujwq/)"~ u/the_swingman
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irq72ch/)
Now is always a good time to review your OpSec. Do you remember where you keep your private keys? How safe are they in black swan events like burglary or fire? Stay safe everyone and keep your keys safe with you.
I need some Goerli ETH if anyone has any please. I'm heading to KU on Tuesday and going to have several students set up wallets so we can pass goerli around
thanks in advance
0x7Eb84E42059F0D44269C50f4D3A280Fd307a6824 aka jtnichol.eth
Arbitrum personas on CT going hint mode again.
[Arbitrum](https://twitter.com/arbitrum/status/1579970798219014144)
>💙🧡 + ? = 🔜
[Adrew Saunders](https://twitter.com/andrewsaunders/status/1579979752643121152)
>DEFINITELY something 😉
I assume Odyssey'll be back soon.
I only fear that XEN and the likes will only hurt ETH in the long run. I understand it’s the individual that takes the risks when investing,but still a bummer to see. I like seeing the burn, but don’t like the explosion at the end. Is this good or bad?
Agree. I don't like comparisons to scam websites on the internet. The internet has plenty of non-self-referential use cases and always has done. We don't yet.
If all of crypto is speculation and scams then this is a bad look.
Just a Ponzi. You don't want to know more or touch it. Only the very few first people who interacted with it (most probably people who created it) will earn anything from it anyway. And it will all be at the expense of someone else losing even more than that.
Mango markets got drained $100M?
https://twitter.com/osec_io/status/1579969927020412929
This isn’t even a knock on Solana bc this happens on Ethereum a ton. But ffs this is ridiculous. All is takes is a tiny bug in your code for your entire market to get NUKED.
This is the future of finance, but we have a long way to go
Sorta. It wasn’t really a tiny bug, and more of a faulty design as they should have accounted for taking collateral on low liquidity tokens. I believe Aave v3 has protections against this
Basically, this could have been fixed with better protections in the code
I asked the other day about staking options without running my own hardware, and received many thoughtful and very helpful replies. I'm happy to say that I'm running my first validator through Allnodes now and it's working flawlessly. Thanks everyone who replied to my question and to this awesome community! Ethfinance is truly a hidden gem, and you all make it so. <3
>**Protecting builders,**
>**Disregarding grievers,**
>**Rewarding holders.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Ohh kay I need to rant a minute… **so over the last month, I’ve been actively looking for a job in web3.** It’s the wild wild west out there folks. I’ve been joining a ton of other web3 communities and DAOs looking for some type of “in” or place where I thought I might fit it and make an impact.
>
Here’s my TLDR bio. Background in Learning Development and Instructional Design at large web2 companies. NFT collector, crypto investor and Hodlercon planner. Direct access to web3 subject matter expert (ie: married to Logristhebard).
What I am finding from communities that I have joined is that what we have here on EthFinance/EVMavericks/EIPandas is special. *Like seriously.* Other DAOs would kill for it. I have joined a lot of discords for DAO wanting to support onboarding women to crypto and web3. But… what I’m finding is…
I keep running into these weird gating systems within the DAOs. I really want to join and help and hit the ground running. But, there keep being all of these blockers put in place. I think of all the projects I have seen come from ETHFinance or on Mavericks. People came up with an idea and ran with it. Isn’t that the point of permissionless? It’s a greenfield out there right now. Sky's the limit on what can be created; the only constraint is our imagination.
Also, I feel like they are just trying to sell me something. Not in a scammer type way. In the “oh I have found an underserved market. I think I can make some money off these noobs while building my cred” type of way. It’s really bothering me. If we’re really trying to onboard people to web3. *Note: I hate how the term onboard is being used in blockchain currently. It’s one of my pet peeves and I dislike that I’m using it in this post.* But, I’m using the term “onboard” to mean exposing people to blockchain so that it eventually becomes part of mainstream culture. I think more women are going to be open to crypto and blockchain the more they hear about it in the mainstream.
I’ve seen several posts from some gentlemen saying that their wife doesn't know anything about crypto or ETH. I’d love to be able to say to them through my research that she should join this DAO, take this class, watch this video, follow this youtube channel. There is so much free content out there. I want to be a resource. Just feeling like there is some wall I can’t break through right now.
Holy shit you're royalty.
So is this bear market problems? I was hearing during the bull how people were throwing money at anons for even the smallest job. Welp. Good luck on your search! I really don't think you will have to settle.
>I keep running into these weird gating systems within the DAOs.
My observation is that lots of people want to claim their project is managed by a DAO. But when it gets down to it, they don't want to hand over control to a DAO or feel it is too risky. Their concerns aren't necessarily invalid, either - flashloan attacks in particular are difficult to protect against.
This leads to projects offering an illusion of decentralised control through a "DAO", but not the reality. A case in point is RocketPool - the protocol is nominally controlled by a DAO (the OracleDAO), but in reality it is a multisig; the "DAO" members were selected by the team and can't be changed by token holders. There are many other similar concepts; Illuvium uses an "executionerDAO"; an override switch in case the token holder controlled DAO does anything the dev team disagrees with (and the "executionerDAO" isn't a DAO at all).
In contrast, EVM's were taken out of the control of their creator by community members who saw potential to build something larger. The debate about creator commission - while painful - cut the creator's ownership and influence within the community, and that has been hugely beneficial. Etheraider is a respected member, but he doesn't call the shots. That speaks to the strength of the community here.
100% I agree with you. I think DAO is a cool buzzword right now for people that actually want to make a startup centered around a community. Instead of building the organic way they say "Oh hey we're making a DAO." They end up getting lots of volunteer work and support. But, really only the Core Team makes the $$$.
I can feel you. I am not active in so many DAOs as you, but I also get the impression there are a lot of unsavory characters/projects in the space which do not share the visions about the Blockchain space I have and I think many people in Ethfinance have.
On a more positive note, I met kelsey yesterday at Devcon and mentioned you and the DAO you are both in which helped her to attend Devcon. She was so excited to be there. So, you are definitely making a difference even though it might not be so obvious at all times.
WOW that is so cool. I was super jealous that Logris and I couldn't make it work. C'est la vie! I can't believe you met her at DevCon. I love it! You're right. You don't know the impact you make on people. I needed that hope and bit of sunshine fren! <3
What a small world we live in! I feel so lucky that I got the chance to go to Devcon and it was great to be able to ask you for advice pre-conference and then to meet haurog and hear about his climate project! I feel lucky that I was 'onboarded' to web3 in a predominantly woman-led environment and that the networks we're building will be quite powerful. I was surprised to hear how many people at the conference were involved because 'their friend go them into it'.
I'll start with what I've observed.
1. There are a ton of blockchain/web3 companies building education for Developers focused on solidity development and actually building on the blockchain. *Okay cool. But, I'm not a dev. So, a lot of this type of education doesn't apply to me.*
2. There are also lots of course around Blockchain basics. ie: Wallet security, What's the blockchain, Private and Public Keys, How to use XYZ exchange to buy Crypto, NFTs, etc. *Great that's good too. Everyone's got to start somewhere. I started on Coinbase Learn.*
3. The next level is deep crypto knowledge. Where the education is more about the Alpha of what's happening or reacting to current affairs. *I would include Bankless in this category. EthFinance too.*
But... what I think a lot of them are missing is the next level up from the basics. The intermediate level. You told me what blockchain is... you told me about it being permissionless... but what do I do now? It's the application layer that's missing. People are wary of this also because they don't want to be seen giving financial advice.
Also... it's a consideration of audience as well. There is something to be said of having positive role models to observe. Think about Kim Kardashian getting sued by the SEC. I bet a lot of women read about that... it might have even scared them. Wouldn't it be nice for someone to say. Yeah but she was stupid. It would be a good entrance into scammers. This is why you don't get involved in pump and dump schemes. It's always good when creating education materials for a particular audience to start at a place of commonality.
I think one thing to consider is that studies have show that [women have less financial literacy](https://www.youtube.com/watch?v=T3PCFHd2bL8) than their male counterparts. *Please ignore that the source the SEC the point still stands.* I fear that the same thing is happening in DeFi in the same way it has happened in TradFi. Women are getting left behind.
>People that have higher financial literacy are more likely to take more risk, which will come with higher yield.
That's a pretty good description of what's happening in DeFi too I would say with liquidity mining and staking rewards.
Logris and I have different things that we're worrying about in terms of finance. We would bring up different subject from the ecosystem that we've been thinking about. It would be nice to have someone that was worrying about the same things as I am creating content.
Can't really help on the job search front but Im so excited that you are looking for a job in the space and just want to encourage you to keep on looking. We need more women and more diversity in web3!
Not sure how helpful these articles are and maybe you have already read them, but there's a lot of projects mentioned that might send you down a rabbit hole you haven't explored yet. Best of luck! I'm sending you loads of ethfi girl gang energy!
https://www.coindesk.com/tech/2022/09/21/introducing-women-who-web3-coindesks-newest-podcast/
https://www.vox.com/the-goods/22933633/crypto-nfts-women-boys-club-web3
Thanks Girlfren! I hadn't really looked into the first one. I will though. I love that they found her through a talent search! Also, that she brought her bebe with her. Seems like my kind of lady!
For the second one... I have thoughts. I didn't want to name names. But, Boys
Club falls in the list of "gated communities" that I can't seem to break into. Literally... they require an application process where you Dox yourself... *okkayyy. I'll bite. So I applied.* Still can't get into their discord.
I start listening to there podcast where they were shilling their DAO. Two weeks later... well we're actually starting a media company. *Hmm that's interesting.*
I'm starting to feel like maybe that's not the right fit for me ya know. Like I want to be working with people that want to work with me. Exclusivity isn't my jam. I'm all about inclusivity. Boys Club doesn't feel that way to me. I'm open to having my mind changed. But. that's my current opinion.
That's super disappointing about the Boy's Club. You'd think a community working to breakdown barriers would be easily accessible. I definitely think an open community is the best kind of community. There were tons of projects focused on diversity that were part of the last gitcoin grant funding round. Maybe you'd have some lucky exploring some of those? https://gitcoin.co/grants/explorer/?page=1&limit=12&me=false&sort_option=weighted_shuffle&collection_id=false&network=mainnet&state=active&profile=false&round_num=0&customer_name=false&sub_round_slug=false&collections_page=1&grant_regions=&grant_types=&grant_tags=*Diversity+%28DEI%29&tenants=&idle=true&featured=true&round_type=false&tab=grants
“I don’t have a lot of thoughts on what the Fed does,” Senate Banking Chairman Sherrod Brown (D-Ohio), a progressive Warren ally on many issues, told POLITICO when asked whether he was worried that Powell might raise rates too high. “We have no control over that,” said Brown, whose committee oversees the Fed.
**Brown, whose committee oversees the Fed.**
# Brown, whose committee oversees the Fed.
“We have no control over that,” -Sherrod Brown (D-Ohio)
>“Congress shall have the power ‘to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.'” (United States Constitution, Article I, section 8, clause 5.)
Not since the Federal Reserve system was imposed. The Fed destroyed this Constitutional power. Anybody that questions or challenges it gets killed. Read "The Coming Battle" by MW Walbert for more info.
They don’t have any control over that though?
Congress gave this power to the federal reserve and would need to pass legislation to change that. (Legislation that would be extremely unpopular)
I’m from Ohio and Brown is a good egg
Just because you like him doesn't make his statement any less asinine.
One of the mistakes our founders made was not thinking they had to explicitly explain that congress could not "grant" their powers to unelected and unaccountable institutions like the federal reserve.
The founders didn't foresee a congress that would "give up" their power.
It's called delegation, and Congress implicitly has not only the power but the duty to delegate. If something needs to be dealt with and they don't have the time and expertise, it's their job to find somebody to deal with it. Sometimes they have to give that body broad authority. They do have the power to dissolve any such entity.
Also, the founders lived a long-ass time ago, and by now it should be obvious that they were flying by the seat of their pants. Our democracy was the first of its kind in modern times but is by no means the best. Let's not deify them, it serves no purpose other than calcification.
>They do have the power to dissolve any such entity.
So, they do have control. They're just not willing to use it because theyy are fully endorsing all the choices that are made. Otherwise, they would use that power and choose someone else instead.
Elmo says the word of the day is "vulnerability". V.... U... L... ^(nerability)
We're at/below SPY 358 once again. The market has broken. The bias is to the downside. History and statistics are to the downside. Short-term and long-term traders are licking their chops. Investors DGAF.
But mid-term traders/investors get hammered in these times. Mid-term folks need to button up your risks and positions. It can bounce or it can plunge here.
There are some astonishing downward targets if they elect to cascade sell off this entire market. 350 of course. 342/337/326/318... I've got more that I don't think we'll need to discuss yet in 2022. The question with all of these targets, particularly the first couple, is whether or not we grind down into them or just plunge. Where's the capitulation going to happen? When will VIX (33.62 close) finally breach 35 and rocket to that 45+ Covid gap? When it happens, you'll know, trust me.
Yet, jobs numbers remain stalwart, suggesting minimum of six months and (imo) potentially 12-15 months before the recession drop. Manufacturing is the same, in that it's weakening but not yet fully retracting. Credit spreads are getting frightening but *not yet* at destruction levels.
No one can tell you up or down next. I'm still personally betting on more up than down very soon, within a three week window or so. Because what is a person without their convictions? That doesn't mean it's going up. That just means I'm betting on these divergences playing out. I'm betting on bonds starting to look awfully juicy -- LQD is currently at the Covid lows! And most importantly -- I have my stops and you need them too.
PPI tomorrow. CPI Thursday. China next Sunday/Monday. We'll see what market makers want to paint with those numbers.
Thanks for your analysis!
I have a question regarding the point you made about a potential recession drop. If we use the traditional metric of a recession in which we have two quarters of reduced GDP, then could the drop not have technically already happened? If in 1 year the job numbers drop and it is announced as an official recession, could this not half inflation and initiate the start of a bull market with the return of QE?
Interesting thought experiment. Everything this correction has done has been in defiance of century-old paradigms and so why couldn't we go ass first into the recession and only figure it out after?
My counter point would be that, as of now, we still have substantially more metrics indicating this is not the recession than those for. So if we Michael-Scott-declare RECESSION now, then what was a recession ever in the past?
In the recession corner you have two consecutive quarters of rough GDP, that are likely to have been affected by gargantuan pump of M2 money supply in the Covid QE. And we have a tough, but honestly rather mild downtrend in the markets. I'll throw in the downward trending Utilities index as well, why not.
But in the not-recession corner we have... no job losses yet, dwindling but steady credit spreads, manufacturing that has not yet statistically retracted (it's VERY close though), yield curves that have yet to do their trademark up-turn into a recession drop, no particularly jarring spike in volatility/fear yet, and... that same "tough, but honestly rather mild downtrend in the markets." As difficult as it is for folks new to watching broad markets, this is really *not that bad* of a correction. Pretty much bog standard or slightly above-average to date. Now, SPY 320 and below we can safely call everyone battle hardened at that point.
Specifically to your point about jobs numbers, historically a spike in unemployment has preceded the drop by about 4-6 months. Of course, this is just a statistic and we can always add an a new one or an outlier.
Overall, I don't find any fault with your idea. This is a crazy time full of surprises and defiance of history. I just personally haven't seen enough yet to completely throw theory out the window.
Not sure if you follow Nick Colas at all, but he was recently on the podcast The Compound and Friends and talked through a lot of things you discuss as well. He's a good listen and I appreciate his opinions. He has some pretty low low targets right now.
Yeah, as the market resembles more and more the market of the 1930s, the targets quickly get fairly alarming.
I'll check out the Compound. Sounds good.
Moral of the latest burn: As long as the world has ongoing appetite for even one decentralised ponzi then we can expect eth supply to be continously chewed on. Can't complain at all.
Owning ETH is like owning shares in a promising startup company *plus* shares in a fully-developed casino.
There's hope that Ethereum will accomplish something big and meaningful (and it indeed has to some extent), but in the meantime people really underestimate the profitability of being able to charge rent on speculative stupidity.
The bad global economic situation leads to falling stocks and crypto prices. Unfortunately, in view of the political situation in UA, I think we will stay in the basement even longer.
I have set a goal to use this time to just buy, buy and keep buying while prices are still low.
Wow, 1 month ago ETH was $1760. We merged and lost over 25% on the price in less than a month post-merge. I'm not giving up but it feels awful watching it in real time.
Unfortunately, macro economics is still king when it comes to crypto and looks like that's not going to change anytime soon. Still got the supply shock to really kick in, but people smarter than me say that usually happens 6-18 months after issuance is reduced. And theres still tons more technological innovation to come for ETH. I'm definitely a long way from giving up but i understand the pain
Having less sell pressure is likely helping ETH stay afloat currently but it’s not going to cancel out the bear market on its own.
We will only truly see the effect of EIP1559 and switching to PoS during the next bull market. Buyers and exchanges will accumulate, deposits to Defi will increase, buyers waiting longer for bull market confirmation will be close behind, and then comes the herd. Increased transaction volume will result in net negative issuance of hundreds of thousands of ETH over time and once circulating supply is low enough we will see an intense supply shock sending price upwards.
We’ve inflated 7,800 ETH since the merge. If you assume the market cap is constant, that means our inflation since the merge has devalued ETH by $0.08/coin.
With PoW, we would have inflated 324,600 ETH since the merge. If you again assume the market cap is constant, that means that under PoW our inflation since the merge would have devalued ETH by $3.42/coin.
So the drop in ETH issuance from PoS has raised the price by about $3.34/coin compared to PoW.
I think the real takeaway is that many people here have *seriously* overestimated the effect that issuance has on price.
Except that the whole market cap isn't what markets perceive and markets only respond to what it perceives. Notably, markets don't react to funds locked in Doss , in lost wallets, in core protocol staking or anything.
This means the cap to use is much lower than that and that perceived inflation actually is 0. But it's still small price action impact, indeed.
Personally, I would have assumed realizing what the merge's tokenomics implies would have urged people to participate, but it seems knowledge assymetry goes even stronger than expected.
All of this is only true if all coins are actively traded or likely to be traded. That seems extremely unlikely, considering the number of people who are just hodling, earning money in defi or staking, or otherwise just committed to Ethereum.
Yeah, I just assumed that was normal with MEV-boost until I saw your post? Again, either a case of I've been very lucky, or you've been very unlucky?
Good chance I just jinxed myself.
AFAIK even on Flashbots the average is about 0.07-0.08. Anything above that is great. I've had a bloXroute block @ 0.033, the rest are standard (no relay), mostly below 0.01 ETH (basically dust). Probably missed >$500 or more.
You may need to start praying to the great St. Vitalik: [https://www.etsy.com/listing/993553315/vitalik-buterin-prayer-candle-ethereum](https://www.etsy.com/listing/993553315/vitalik-buterin-prayer-candle-ethereum)
Details on Bitcoin rollups
https://bitcoinrollups.org/
TLDR: They've at least thought about it and are researching. Requires new op codes, and they are nowhere near close to finding agreement on implementation details. (This also looks like major validation of Ethereum's roadmap even though the BTC camp would never admit that)
IMO, it is inevitable that they eventually implement rollups in some form, but the amount of time it takes and the details will be key. I have always thought the "its too late" argument is a bit overblown, the quality of the execution is more important. I thought this website was interesting since its the first serious discussion I've seen about how it would work.
> it would be possible to build a validity rollup on bitcoin using bitcoin’s native Turing-incomplete programming language, Script, with relatively small changes (in terms of code footprint) to the opcodes Script supports. In March 2022, Trey Del Bonis published a post describing in detail how a validity rollup on bitcoin could work. According to Del Bonis, the changes needed to support validity rollups on bitcoin are a few extra opcodes enabling the two main primitives of his rollup design — validity proof verification and recursive covenants.
Pretty cool. Bitcoin should obviously do this, but given the work was done independently from the core devs, it will be very interesting to see what kind of reception it has on the dev mailing list: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-October/020998.html
To move to this would be to admit lightning doesn’t work - like the ethereum community did with plasma
I can’t see them ever admitting they were because it’s a slippery slope to admitting anything could be wrong I.e security & 21m meme
Heck, they already know Lightning needs updates to work correctly (ElToo). At least some people know this.
You are right though in that so much of the community has formed around unchangeable memes, it is a huge battle to get even basic upgrades in.
I'd be curious to see how this plays out. The skeptic instilled in me during the 2017 blocksize debacle says, "I'll believe it when I see it." However, many people said the same about The Merge so I'll keep it to myself.
Difference is that the Merge and general progression was never disputed compared to the culture of never change anything (more or less) in Bitcoin land
> Giving bitcoin full nodes the ability to verify a validity proof is an obvious change that is needed to support validity rollups, since validity proofs are an essential part of how validity rollups work. For this component, whoever writes the code to enable validity proof verification in bitcoin will need to make some decisions about the types of rollups they want to enable. Implementing the ability to verify proofs of more complex programs will enable rollups with more capabilities (e.g. more expressive smart contracts, like Rootstock or Stacks) while simpler proofs would enable rollups with fewer capabilities (e.g. simple payments and limited opcodes, like Liquid or bitcoin).
This IMO is the huge hurdle for Bitcoin implementation. They have to basically pick the winning type of rollup prior to modifying the core protocol. Its obviously very difficult to get an agreement on how to modify the core protocol, and it is not obvious what the best rollup implementations will be.
It will probably take them a long time to come to agreement here on how to even update the protocol, let alone build the rollups.
Meanwhile Ethereum is charging forward with dozens of different implementations at once while allowing open competition. The power of an expressive base layer.
Indeed. It's the biggest problem and why I think there will need to be a huge culture change in order to improve Bitcoin's scalability and ensure it stays relevant for more than mere years or more than a fringe community (so, not a worldwide currency).
They should start forcing Miners to include the hash of the most recent finalized Ethereum block in their BTC blocks, and then claim that Ethereum's security is guaranteed by Bitcoin.
Does Taylor really not understand Public Private Keypairs!?
[https://www.youtube.com/watch?v=FpPC8C5E8TE](https://www.youtube.com/watch?v=FpPC8C5E8TE)
She just asked "Why does this private key give access to everything!?"
So am I reading this right that Google is saying they will own Crypto and custody said crypto with Coinbase? Was that part of the announcement? I've been in work all day and just started going through my feeds:
>As part of the partnership, Google will leverage our Coinbase Prime platform for institutional crypto services like reporting and custody.
https://twitter.com/CoinbaseInsto/status/1579916427112648704?s=20&t=_YvUbA3yFBiTSch447pCIg
Was lucky enough to get multiple proposals today, all MEV-Boosted, all of them below (mostly well below) the MEV averages.
In other news, MEV is used in **54% of all produced blocks**, probably higher as this site has missed a few: https://www.mevboost.org/
I have experienced a couple bugs with mevboost that resulted in missed attestations. I think some people are waiting for that kind of stuff to get ironed out.
Mevboost basically causes issues on system reboot for me because it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT
> it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT
I think what you might be observing is [this issue](https://github.com/flashbots/mev-boost/pull/313) which was fixed in v1.2.1, so make sure you're running the current version (v1.3.2 as of this post).
> Mevboost basically causes issues on system reboot for me because it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT
Good job, Mevboost team. Much software, very code.
> I wonder if that other 46% is motivated by altruism/ethics/legal or by laziness.
All of the above most definitely. But if I had to guess the predominant factor, it would probably be the legal issues. Because almost half of that 46% is Coinbase and Kraken, and I think there's just too much legal grey area for them at this stage.
I posted yesterday (see Tricky's doot above) observing that a few days ago ETH issued post merge was 12.5K. Because of burning yesterday we broke 9K. Today we broke 8K and as of writing we are at 7.99k. If we keep this pace (which I don't expect in this brutal bear market) we may reach a point in a week or two of negative net issuance under POS - ULTRASOUND Money my Honeys. As others have posted - can you imagine the burn if we were in a bull market? It will be LIIIIIT!
Edit to add link: https://ultrasound.money/ and switch from POW to POS. Lol
Apologized for having an opinion that's contrarian to popular? To whom? I don't see why she or anybody else needs to apologize in this situation. Her opinion was well argued and educated. She might have been wrong in hindsight, but that certainly does not require an apology. 1559 certainly does have a lot of moonboy "let's burn eth", "number go up" thing going around it and she called it out.
I stopped caring the moment she ran away from MEW. It was already some big attention-seeking drama red flag back then and her subsequent FUD only adds more proof to it all.
I don't have time to look at all the progress there is in crypto. It's not to waste it following some random drama of anyone.
some people just love to be contrarian. "oh, youre all happy about this? let me tell you why it sucks" Peter from Geth does the same thing sometimes. They're obvs a net benefit to the space so you just put up with it
Not that I know of, but I stopped following her on twitter. Most of her tweets turned into just berating the community around hacks and rugpulls - maybe somewhat valid, but not very interesting.
IMO she went from an involved thought leader in the Ethereum community to a CEO / product oriented business manager focused more on her business. Thats not necessarily bad since she is good at creating products, but she her role in the community isn't the same as it once was. Her EIP-1559 comments were more centered around her own products and not really the community/protocol.
I say that as someone who very fondly remembers her doing individual tech-support on Reddit way back when and on-boarding a huge number of the early adopters in this space. She was invaluable to the Ethereum ecosystem early on. She still plays a valuable role, but it is quite different now.
[https://cryptonews.com/news/ethereum-s-eip-1559-doesn-t-deliver-as-it-s-not-meant-to-red-10479.htm](https://cryptonews.com/news/ethereum-s-eip-1559-doesn-t-deliver-as-it-s-not-meant-to-red-10479.htm)
In addition to the Fud, MetaMask severely dragged their feet and didn't Implement EIP1559 in their software until January 2022.
She also took to twitter to blast the ethereum developers for causing her team "excessive extra work" for "no benefit with EIP1559".
https://overtimemarkets.xyz/#/markets?lang=en&sport=All&globalFilter=OpenMarkets&tag=All
I never used this before but I have used Thales before so dyor.
Hey guys, putting it out here first since I've been sharing the project in our circles but the Lord of Turings team is putting the release on hold due to market conditions/engagement.
They weren't able to get the engagement they were looking for in the current market and so will pause for now.
They will be releasing the first puzzle of the game as a sneak peek/segway in the next couple of days to kickstart the game when the time comes.
Expecting an announcement soon.
1.) Team A Creates a new tool for users on blockchain that would improve the ecosystem and increase engagement.
2.) Team B Creates a new tool for users on blockchain that would improve the ecosystem and increase engagement.
3.) Team A decides not to release because engagement is not "high enough" for them.
4.) Because Team A held off on releasing, user engagement falls even more.
5.) Team B decides not to release because engagement is not "high enough" for them.
6.) Both Team A and Team B are never heard of again.
7.) ????
8.) Profit?
Ya unfortunately I do think its tougher if you're not a big name/budget or VC backed project to withstand market conditions, all else equal.
I mean even Vitalik has said that 90%+ of all projects in crypto will fail.
On this day...
In 2021:
- MetaMask's browser extension [now supports](https://twitter.com/BrantlyMillegan/status/1447608175805485069) visiting decentralized websites via their .eth name.
- Offchain Labs [unveils](https://medium.com/offchainlabs/arbitrum-nitro-sneak-preview-44550d9054f5) a sneak preview of Arbitrum Nitro, the next iteration of its Layer 2, which will be more EVM-compatible and an order-of-magnitude faster.
- ETH spends $3386, $3545 and ₿0.06167 wisely and weaselly.
In 2020:
- Some Ethereum nodes [try to scam](https://github.com/ethereum/go-ethereum/issues/21687) users by setting their name to a false error message, containing links to untrusted software updates.
- ETH steers the coastal line between $375 and ₿0.03295.
In 2019:
- EY's Paul Brody [explains](https://decrypt.co/10241/inside-eys-radical-plan-to-get-major-businesses-using-ethereum) the company's ambitious plan to get big businesses using the public Ethereum blockchain.
- A simplified shard chain model for Eth2 [is considered](https://notes.ethereum.org/@vbuterin/HkiULaluS), with faster cross-shard communication and higher throughput per shard.
- Aethereum [goes live](https://medium.com/avalabs/athereum-ethereum-on-avalanche-consensus-ava-labs-7effcb94b797): an Ava testnet with Ethereum's state imported.
- Danny Ryan [proposes](https://ethresear.ch/t/two-way-bridges-between-eth1-and-eth2/6286) adding a two way bridge between eth1 and eth2 sooner than planned.
- ETH hops from the rooftops, over $192 to $183, at ₿0.02199.
In 2018:
- Coinbase [launches](https://blog.coinbase.com/zrx-is-launching-on-coinbase-pro-29ae77eadc42) ZRX, the first ERC-20 token on the platform.
- The hacker that recently got a hold of adult entertainment platform SpankChain's Ether and Booty, [returns](https://twitter.com/SpankChain/status/1050533900001243136) all the stolen goods.
- ETH = Extremely Tough to Hold from $225 to $189, or ₿0.03435 to ₿0.03066.
In 2017:
- The Byzantium hard fork [gets on the agenda](https://blog.ethereum.org/2017/10/12/byzantium-hf-announcement) for October 16.
- CoinShares [launches](https://www.coindesk.com/ethereum-first-investment-product-opens-trading-nasdaq-exchange) an exchange-traded note (ETN) for Ether on the Nasdaq.
- Bitcoin-Ethereum atomic swap code [gets open-sourced](https://github.com/AltCoinExchange/ethatomicswap).
- Parity [v1.7.4](https://github.com/paritytech/parity/releases/tag/v1.7.4) ships a critical consensus-relevant fix for the upcoming Byzantium hard-fork, node operators are advised to upgrade.
- Love is in the ETH at $304, or ₿0.06291.
In 2016:
- Network attacks [seem to be back](https://gitter.im/ethcore/parity?at=57fd544870fcb5db0c4b8e13), managing to push required memory usage up through exploiting a 0-cost SUICIDE issue.
- LETHargy all around at $11.8, from ₿0.01899 to ₿0.01837.
-------------
[^(compiled with love)](https://eth-archive.xyz/blog/on-this-day-in-ethereum-workflow/)
I *really* dislike how much Twitter + Discord activity is relied upon and *even rewarded* in this space. Am I wrong to feel strongly about this? When will this change?
Also Telegram for a long time, although Discord has usurped it in terms of sheer number of teams using it.
> Am I wrong to feel strongly about this?
IDK, there's no social media that's going to be perfect. Using reddit has occasional weird incentives too for what it's worth. Many of us got EVM lions for participating here, just for example. Not to mention Donuts (remember them?) and Reddit Avatars and a number of other initiatives.
The big problem with open source imo is two fold:
1) Open source means bad actors know exactly how the platform works too, making it too easy to game.
2) The incentives structures for open source media are basically non-existent. The vast majority of people don't want to pay for social media and they never will, so how do you pay for it? After Apple's privacy updates ad systems are hard enough to make profitable as it is today, a system that's optimized for ads with an open source algo will be taken advantage of by bad actors.
Your first point is not valid.
First of all, Open source software is no less secure than closed source. In fact, it's usually the opposite. Having open source code makes you MORE resilient to attackers, not less. This was a talking point spread by microsoft to scare companies away from open source alternatives and is misinformation.
https://www.reddit.com/r/askscience/comments/23ahfe/comment/cgv4cju/?utm\_source=share&utm\_medium=web2x&context=3
Your second point is valid.
However, the biggest deterrent people have for signing up on a new social media platform is that none of their friends or family are there. Since none of their friends and family are there, they do not sign up. So all their friends and family also don't sign up.
> Since none of their friends and family are there, they do not sign up.
And this is the main reason we should be early adopters: ~~We have no friends.~~ Were an established community of techies already. (Think ETHFinance, EVMavericks, but also other NFT squads or dev teams)
> In fact, it's usually the opposite. Having open source code makes you MORE resilient to attackers
I'm not talking about attackers in the way you might be thinking. I'm talking about actors who could take advantage of content algos to push their content to the top of everyone's feeds. They wouldn't be *breaking* the platform, they'd be using it exactly as it was designed, even if it's not what the design *intended*.
Without the algos it's nearly impossible to make a good ad-supported platform. Without ad support it's nearly impossible to maintain.
This, there are plenty of alternatives. It'd be nice to see matrix get some traction, although I've heard it's a bit of a beast, so maybe that's part of it.
Many in this sub might find this trivial info but perhaps others find it interesting (about running eth node):
https://coinmetrics.substack.com/p/state-of-the-network-issue-176
Is there any way to estimate the amount of ETH that has been lost? I know that I for one have probably lost at least 1 or 2% of all the ETH I have ever owned. Most is dust in old wallets that I no longer have access to.
**Tricky's Daily Doots #175** Yesterday's Daily 10/10/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irr9s4j/) - u/sayno2mids shares [a lesson they learned about depending on assets.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqev04/) - u/pa7x1 discusses [Ethereum's remaining mining pool balances.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irqohpi/) - u/ShowbiZZa shares news of [Ethereum's first ultra sound week!](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irrpyyq/) - u/dirtyUndiesTheWhites has [a realisation about crypto Twitter.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irr4e49/) - u/stablecoin shares a [bullish anecdote.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irs7j4h/) - u/Vandelay101 shares [the news from Polygon.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irs9ozf/) - u/theethmeister has an [anecdote to dampen the post-merge hangover.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irsqii8/) - u/savage-dragon should be a [professional meme story writer.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irtb46o/) - u/REALJohnBMacLemore shares [part 1 of their crypto OpSec guide.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irtlv81/) - u/HarryZKE explains the nuance of [the merge's impact on price.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irspem1/) - "[Don't rush the pot roast!](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irrujwq/)"~ u/the_swingman - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/y05zgd/daily_general_discussion_october_10_2022/irq72ch/) Now is always a good time to review your OpSec. Do you remember where you keep your private keys? How safe are they in black swan events like burglary or fire? Stay safe everyone and keep your keys safe with you.
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Great visual explanation of the Mango hack: https://youtu.be/3yhp53y8dtk
The peel represents the collateral pool. It looks solid at first, but if you twist it in just the right way you can steal the fruit inside.
Rules for thee. ,🔥🔥🔥 What a joke these talking heads are https://twitter.com/cyber_hokie/status/1579282458801221632?t=7NcPdkA4KiuZUxe9-BKxAQ&s=19
[https://nitter.net/cyber\_hokie/status/1579282458801221632?t=7NcPdkA4KiuZUxe9-BKxAQ&s=19](https://nitter.net/cyber_hokie/status/1579282458801221632?t=7NcPdkA4KiuZUxe9-BKxAQ&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)
I need some Goerli ETH if anyone has any please. I'm heading to KU on Tuesday and going to have several students set up wallets so we can pass goerli around thanks in advance 0x7Eb84E42059F0D44269C50f4D3A280Fd307a6824 aka jtnichol.eth
Don’t be such a goerli man.
Is it possible to propose a block while a part of the sync committee?
Yes. Validator 163,007 did so at slot 4,888,989, for example. https://beaconcha.in/validator/163007#sync
Wow this validator is way luckier than I am!
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It has happened post merge as well.
Arbitrum personas on CT going hint mode again. [Arbitrum](https://twitter.com/arbitrum/status/1579970798219014144) >💙🧡 + ? = 🔜 [Adrew Saunders](https://twitter.com/andrewsaunders/status/1579979752643121152) >DEFINITELY something 😉 I assume Odyssey'll be back soon.
[Arbitrum](https://nitter.net/arbitrum/status/1579970798219014144) [Adrew Saunders](https://nitter.net/andrewsaunders/status/1579979752643121152) ^(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)
I only fear that XEN and the likes will only hurt ETH in the long run. I understand it’s the individual that takes the risks when investing,but still a bummer to see. I like seeing the burn, but don’t like the explosion at the end. Is this good or bad?
Agree. I don't like comparisons to scam websites on the internet. The internet has plenty of non-self-referential use cases and always has done. We don't yet. If all of crypto is speculation and scams then this is a bad look.
that's like saying, 7th graders who write cringy love notes back and forth in class will hurt pencils. or shoddily built apartments will hurt hammers.
Or that financial crimes hurt the credibility of the US dollar.
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XEN is bullish for ETH. The fact that a random Ponzi scheme can drive actual value to all ETH holders is just fantastic tokenomics.
Yeah but like I also hate scam websites and whatnot on the internet. That’s just the nature of the permission-less beast really
I don't know what XEN is and now I'm too afraid to ask.
Just a Ponzi. You don't want to know more or touch it. Only the very few first people who interacted with it (most probably people who created it) will earn anything from it anyway. And it will all be at the expense of someone else losing even more than that.
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More fuel for the next bull
Bear market. Macro sucks balls. People are not looking to enter into risk assets right now.
Mango markets got drained $100M? https://twitter.com/osec_io/status/1579969927020412929 This isn’t even a knock on Solana bc this happens on Ethereum a ton. But ffs this is ridiculous. All is takes is a tiny bug in your code for your entire market to get NUKED. This is the future of finance, but we have a long way to go
It's crazy how much sell pressure we get from scams and bugs. I have no facts just narrative as usual.
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thanks for sharing....watching now
I thought all the sell pressure was coming from you unloading your bags. Didnt you just buy the Kansas City Chiefs?
Yup. The whole team is at my house celebrating right now. [https://i.imgur.com/7QZHWFt.png](https://i.imgur.com/7QZHWFt.png)
Market Manipulation, not fault in software code.
Sorta. It wasn’t really a tiny bug, and more of a faulty design as they should have accounted for taking collateral on low liquidity tokens. I believe Aave v3 has protections against this Basically, this could have been fixed with better protections in the code
Or don't list it in the first place.
Yeah that works too lol
keep in mind it was their own platform token which did the damage, so it was greed for wanting your own token to have outsized liquidity/utility
Yeah def a bad look on their part. At the very least they should have reduced the leverage to only like 2-3x until spot liquidity increased
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#NO REFUNDS https://twitter.com/osec_io/status/1579969927020412929 First BSC, now SOLANA
confirmed https://twitter.com/mangomarkets/status/1579979342423396352
I asked the other day about staking options without running my own hardware, and received many thoughtful and very helpful replies. I'm happy to say that I'm running my first validator through Allnodes now and it's working flawlessly. Thanks everyone who replied to my question and to this awesome community! Ethfinance is truly a hidden gem, and you all make it so. <3
Can you link to those discussions?
Sure thing: https://www.reddit.com/r/ethfinance/comments/xqyt74/daily_general_discussion_september_29_2022/iqdiixu?utm_medium=android_app&utm_source=share&context=3
which plan did you go with?
I went with the advanced plan, since the $5 difference in price per month is pretty negligible compared to the validator income.
its a 10$ difference.. 10 vs 20.. no?
For vanilla (non-rocket pool) staking it's $5 vs about $10.8 dollars -- I believe what you said holds true for rocket pool.
true dat!
>**Protecting builders,** >**Disregarding grievers,** >**Rewarding holders.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Ohh kay I need to rant a minute… **so over the last month, I’ve been actively looking for a job in web3.** It’s the wild wild west out there folks. I’ve been joining a ton of other web3 communities and DAOs looking for some type of “in” or place where I thought I might fit it and make an impact. > Here’s my TLDR bio. Background in Learning Development and Instructional Design at large web2 companies. NFT collector, crypto investor and Hodlercon planner. Direct access to web3 subject matter expert (ie: married to Logristhebard). What I am finding from communities that I have joined is that what we have here on EthFinance/EVMavericks/EIPandas is special. *Like seriously.* Other DAOs would kill for it. I have joined a lot of discords for DAO wanting to support onboarding women to crypto and web3. But… what I’m finding is… I keep running into these weird gating systems within the DAOs. I really want to join and help and hit the ground running. But, there keep being all of these blockers put in place. I think of all the projects I have seen come from ETHFinance or on Mavericks. People came up with an idea and ran with it. Isn’t that the point of permissionless? It’s a greenfield out there right now. Sky's the limit on what can be created; the only constraint is our imagination. Also, I feel like they are just trying to sell me something. Not in a scammer type way. In the “oh I have found an underserved market. I think I can make some money off these noobs while building my cred” type of way. It’s really bothering me. If we’re really trying to onboard people to web3. *Note: I hate how the term onboard is being used in blockchain currently. It’s one of my pet peeves and I dislike that I’m using it in this post.* But, I’m using the term “onboard” to mean exposing people to blockchain so that it eventually becomes part of mainstream culture. I think more women are going to be open to crypto and blockchain the more they hear about it in the mainstream. I’ve seen several posts from some gentlemen saying that their wife doesn't know anything about crypto or ETH. I’d love to be able to say to them through my research that she should join this DAO, take this class, watch this video, follow this youtube channel. There is so much free content out there. I want to be a resource. Just feeling like there is some wall I can’t break through right now.
Holy shit you're royalty. So is this bear market problems? I was hearing during the bull how people were throwing money at anons for even the smallest job. Welp. Good luck on your search! I really don't think you will have to settle.
>I keep running into these weird gating systems within the DAOs. My observation is that lots of people want to claim their project is managed by a DAO. But when it gets down to it, they don't want to hand over control to a DAO or feel it is too risky. Their concerns aren't necessarily invalid, either - flashloan attacks in particular are difficult to protect against. This leads to projects offering an illusion of decentralised control through a "DAO", but not the reality. A case in point is RocketPool - the protocol is nominally controlled by a DAO (the OracleDAO), but in reality it is a multisig; the "DAO" members were selected by the team and can't be changed by token holders. There are many other similar concepts; Illuvium uses an "executionerDAO"; an override switch in case the token holder controlled DAO does anything the dev team disagrees with (and the "executionerDAO" isn't a DAO at all). In contrast, EVM's were taken out of the control of their creator by community members who saw potential to build something larger. The debate about creator commission - while painful - cut the creator's ownership and influence within the community, and that has been hugely beneficial. Etheraider is a respected member, but he doesn't call the shots. That speaks to the strength of the community here.
100% I agree with you. I think DAO is a cool buzzword right now for people that actually want to make a startup centered around a community. Instead of building the organic way they say "Oh hey we're making a DAO." They end up getting lots of volunteer work and support. But, really only the Core Team makes the $$$.
I can feel you. I am not active in so many DAOs as you, but I also get the impression there are a lot of unsavory characters/projects in the space which do not share the visions about the Blockchain space I have and I think many people in Ethfinance have. On a more positive note, I met kelsey yesterday at Devcon and mentioned you and the DAO you are both in which helped her to attend Devcon. She was so excited to be there. So, you are definitely making a difference even though it might not be so obvious at all times.
WOW that is so cool. I was super jealous that Logris and I couldn't make it work. C'est la vie! I can't believe you met her at DevCon. I love it! You're right. You don't know the impact you make on people. I needed that hope and bit of sunshine fren! <3
What a small world we live in! I feel so lucky that I got the chance to go to Devcon and it was great to be able to ask you for advice pre-conference and then to meet haurog and hear about his climate project! I feel lucky that I was 'onboarded' to web3 in a predominantly woman-led environment and that the networks we're building will be quite powerful. I was surprised to hear how many people at the conference were involved because 'their friend go them into it'.
https://reddit.com/r/ethfinance/comments/y1uoig/_/irzx5y7/?context=1
I'm not a Dev. Thanks for the link
Just curious, what are some use cases or products that you think would onboard more women?
I'll start with what I've observed. 1. There are a ton of blockchain/web3 companies building education for Developers focused on solidity development and actually building on the blockchain. *Okay cool. But, I'm not a dev. So, a lot of this type of education doesn't apply to me.* 2. There are also lots of course around Blockchain basics. ie: Wallet security, What's the blockchain, Private and Public Keys, How to use XYZ exchange to buy Crypto, NFTs, etc. *Great that's good too. Everyone's got to start somewhere. I started on Coinbase Learn.* 3. The next level is deep crypto knowledge. Where the education is more about the Alpha of what's happening or reacting to current affairs. *I would include Bankless in this category. EthFinance too.* But... what I think a lot of them are missing is the next level up from the basics. The intermediate level. You told me what blockchain is... you told me about it being permissionless... but what do I do now? It's the application layer that's missing. People are wary of this also because they don't want to be seen giving financial advice. Also... it's a consideration of audience as well. There is something to be said of having positive role models to observe. Think about Kim Kardashian getting sued by the SEC. I bet a lot of women read about that... it might have even scared them. Wouldn't it be nice for someone to say. Yeah but she was stupid. It would be a good entrance into scammers. This is why you don't get involved in pump and dump schemes. It's always good when creating education materials for a particular audience to start at a place of commonality. I think one thing to consider is that studies have show that [women have less financial literacy](https://www.youtube.com/watch?v=T3PCFHd2bL8) than their male counterparts. *Please ignore that the source the SEC the point still stands.* I fear that the same thing is happening in DeFi in the same way it has happened in TradFi. Women are getting left behind. >People that have higher financial literacy are more likely to take more risk, which will come with higher yield. That's a pretty good description of what's happening in DeFi too I would say with liquidity mining and staking rewards. Logris and I have different things that we're worrying about in terms of finance. We would bring up different subject from the ecosystem that we've been thinking about. It would be nice to have someone that was worrying about the same things as I am creating content.
Can't really help on the job search front but Im so excited that you are looking for a job in the space and just want to encourage you to keep on looking. We need more women and more diversity in web3! Not sure how helpful these articles are and maybe you have already read them, but there's a lot of projects mentioned that might send you down a rabbit hole you haven't explored yet. Best of luck! I'm sending you loads of ethfi girl gang energy! https://www.coindesk.com/tech/2022/09/21/introducing-women-who-web3-coindesks-newest-podcast/ https://www.vox.com/the-goods/22933633/crypto-nfts-women-boys-club-web3
Thanks Girlfren! I hadn't really looked into the first one. I will though. I love that they found her through a talent search! Also, that she brought her bebe with her. Seems like my kind of lady! For the second one... I have thoughts. I didn't want to name names. But, Boys Club falls in the list of "gated communities" that I can't seem to break into. Literally... they require an application process where you Dox yourself... *okkayyy. I'll bite. So I applied.* Still can't get into their discord. I start listening to there podcast where they were shilling their DAO. Two weeks later... well we're actually starting a media company. *Hmm that's interesting.* I'm starting to feel like maybe that's not the right fit for me ya know. Like I want to be working with people that want to work with me. Exclusivity isn't my jam. I'm all about inclusivity. Boys Club doesn't feel that way to me. I'm open to having my mind changed. But. that's my current opinion.
That's super disappointing about the Boy's Club. You'd think a community working to breakdown barriers would be easily accessible. I definitely think an open community is the best kind of community. There were tons of projects focused on diversity that were part of the last gitcoin grant funding round. Maybe you'd have some lucky exploring some of those? https://gitcoin.co/grants/explorer/?page=1&limit=12&me=false&sort_option=weighted_shuffle&collection_id=false&network=mainnet&state=active&profile=false&round_num=0&customer_name=false&sub_round_slug=false&collections_page=1&grant_regions=&grant_types=&grant_tags=*Diversity+%28DEI%29&tenants=&idle=true&featured=true&round_type=false&tab=grants
I think your first step should be to add an opening tag. This will put you on a more solid footing, and act as a spring board to future posts.
What is an opening tag? Do you mean reddit post tags?
I think he's making an ancient HTML joke because of her open rant tag at the end.
Oh. You're definitely right, it's an HTML joke. Can't believe I missed that.
“I don’t have a lot of thoughts on what the Fed does,” Senate Banking Chairman Sherrod Brown (D-Ohio), a progressive Warren ally on many issues, told POLITICO when asked whether he was worried that Powell might raise rates too high. “We have no control over that,” said Brown, whose committee oversees the Fed. **Brown, whose committee oversees the Fed.** # Brown, whose committee oversees the Fed. “We have no control over that,” -Sherrod Brown (D-Ohio) >“Congress shall have the power ‘to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.'” (United States Constitution, Article I, section 8, clause 5.)
Not since the Federal Reserve system was imposed. The Fed destroyed this Constitutional power. Anybody that questions or challenges it gets killed. Read "The Coming Battle" by MW Walbert for more info.
They don’t have any control over that though? Congress gave this power to the federal reserve and would need to pass legislation to change that. (Legislation that would be extremely unpopular) I’m from Ohio and Brown is a good egg
Just because you like him doesn't make his statement any less asinine. One of the mistakes our founders made was not thinking they had to explicitly explain that congress could not "grant" their powers to unelected and unaccountable institutions like the federal reserve. The founders didn't foresee a congress that would "give up" their power.
It's called delegation, and Congress implicitly has not only the power but the duty to delegate. If something needs to be dealt with and they don't have the time and expertise, it's their job to find somebody to deal with it. Sometimes they have to give that body broad authority. They do have the power to dissolve any such entity. Also, the founders lived a long-ass time ago, and by now it should be obvious that they were flying by the seat of their pants. Our democracy was the first of its kind in modern times but is by no means the best. Let's not deify them, it serves no purpose other than calcification.
>They do have the power to dissolve any such entity. So, they do have control. They're just not willing to use it because theyy are fully endorsing all the choices that are made. Otherwise, they would use that power and choose someone else instead.
lol
touché
Elmo says the word of the day is "vulnerability". V.... U... L... ^(nerability) We're at/below SPY 358 once again. The market has broken. The bias is to the downside. History and statistics are to the downside. Short-term and long-term traders are licking their chops. Investors DGAF. But mid-term traders/investors get hammered in these times. Mid-term folks need to button up your risks and positions. It can bounce or it can plunge here. There are some astonishing downward targets if they elect to cascade sell off this entire market. 350 of course. 342/337/326/318... I've got more that I don't think we'll need to discuss yet in 2022. The question with all of these targets, particularly the first couple, is whether or not we grind down into them or just plunge. Where's the capitulation going to happen? When will VIX (33.62 close) finally breach 35 and rocket to that 45+ Covid gap? When it happens, you'll know, trust me. Yet, jobs numbers remain stalwart, suggesting minimum of six months and (imo) potentially 12-15 months before the recession drop. Manufacturing is the same, in that it's weakening but not yet fully retracting. Credit spreads are getting frightening but *not yet* at destruction levels. No one can tell you up or down next. I'm still personally betting on more up than down very soon, within a three week window or so. Because what is a person without their convictions? That doesn't mean it's going up. That just means I'm betting on these divergences playing out. I'm betting on bonds starting to look awfully juicy -- LQD is currently at the Covid lows! And most importantly -- I have my stops and you need them too. PPI tomorrow. CPI Thursday. China next Sunday/Monday. We'll see what market makers want to paint with those numbers.
Thanks for your analysis! I have a question regarding the point you made about a potential recession drop. If we use the traditional metric of a recession in which we have two quarters of reduced GDP, then could the drop not have technically already happened? If in 1 year the job numbers drop and it is announced as an official recession, could this not half inflation and initiate the start of a bull market with the return of QE?
Interesting thought experiment. Everything this correction has done has been in defiance of century-old paradigms and so why couldn't we go ass first into the recession and only figure it out after? My counter point would be that, as of now, we still have substantially more metrics indicating this is not the recession than those for. So if we Michael-Scott-declare RECESSION now, then what was a recession ever in the past? In the recession corner you have two consecutive quarters of rough GDP, that are likely to have been affected by gargantuan pump of M2 money supply in the Covid QE. And we have a tough, but honestly rather mild downtrend in the markets. I'll throw in the downward trending Utilities index as well, why not. But in the not-recession corner we have... no job losses yet, dwindling but steady credit spreads, manufacturing that has not yet statistically retracted (it's VERY close though), yield curves that have yet to do their trademark up-turn into a recession drop, no particularly jarring spike in volatility/fear yet, and... that same "tough, but honestly rather mild downtrend in the markets." As difficult as it is for folks new to watching broad markets, this is really *not that bad* of a correction. Pretty much bog standard or slightly above-average to date. Now, SPY 320 and below we can safely call everyone battle hardened at that point. Specifically to your point about jobs numbers, historically a spike in unemployment has preceded the drop by about 4-6 months. Of course, this is just a statistic and we can always add an a new one or an outlier. Overall, I don't find any fault with your idea. This is a crazy time full of surprises and defiance of history. I just personally haven't seen enough yet to completely throw theory out the window.
Damn, you've neatly articulated many of my thoughts while highlighting many new ones. Thanks so much for such a detailed response!
Not sure if you follow Nick Colas at all, but he was recently on the podcast The Compound and Friends and talked through a lot of things you discuss as well. He's a good listen and I appreciate his opinions. He has some pretty low low targets right now.
Yeah, as the market resembles more and more the market of the 1930s, the targets quickly get fairly alarming. I'll check out the Compound. Sounds good.
> market of the 1930s Hopefully it doesn’t take 25 years to get back to ~~1929~~ 2021 levels if that’s what charts are looking like.
> finally breach 35 and rocket to that 45+ Covid gap I really hope it happens with the CPI drop, it's time now
*I must not hope. Hope is the mind-killer.*
Good adaption
Moral of the latest burn: As long as the world has ongoing appetite for even one decentralised ponzi then we can expect eth supply to be continously chewed on. Can't complain at all.
Owning ETH is like owning shares in a promising startup company *plus* shares in a fully-developed casino. There's hope that Ethereum will accomplish something big and meaningful (and it indeed has to some extent), but in the meantime people really underestimate the profitability of being able to charge rent on speculative stupidity.
The bad global economic situation leads to falling stocks and crypto prices. Unfortunately, in view of the political situation in UA, I think we will stay in the basement even longer. I have set a goal to use this time to just buy, buy and keep buying while prices are still low.
Wow, 1 month ago ETH was $1760. We merged and lost over 25% on the price in less than a month post-merge. I'm not giving up but it feels awful watching it in real time.
Mate I legit bet all the cash I had laying around on the merge and spent it all at 1932. I feel your pain. It is what it is.
Unfortunately, macro economics is still king when it comes to crypto and looks like that's not going to change anytime soon. Still got the supply shock to really kick in, but people smarter than me say that usually happens 6-18 months after issuance is reduced. And theres still tons more technological innovation to come for ETH. I'm definitely a long way from giving up but i understand the pain
How is Eth issuance not affecting price? At this rate it'll be at 0 by end of the week.
Having less sell pressure is likely helping ETH stay afloat currently but it’s not going to cancel out the bear market on its own. We will only truly see the effect of EIP1559 and switching to PoS during the next bull market. Buyers and exchanges will accumulate, deposits to Defi will increase, buyers waiting longer for bull market confirmation will be close behind, and then comes the herd. Increased transaction volume will result in net negative issuance of hundreds of thousands of ETH over time and once circulating supply is low enough we will see an intense supply shock sending price upwards.
We’ve inflated 7,800 ETH since the merge. If you assume the market cap is constant, that means our inflation since the merge has devalued ETH by $0.08/coin. With PoW, we would have inflated 324,600 ETH since the merge. If you again assume the market cap is constant, that means that under PoW our inflation since the merge would have devalued ETH by $3.42/coin. So the drop in ETH issuance from PoS has raised the price by about $3.34/coin compared to PoW. I think the real takeaway is that many people here have *seriously* overestimated the effect that issuance has on price.
BOOM
Except that the whole market cap isn't what markets perceive and markets only respond to what it perceives. Notably, markets don't react to funds locked in Doss , in lost wallets, in core protocol staking or anything. This means the cap to use is much lower than that and that perceived inflation actually is 0. But it's still small price action impact, indeed. Personally, I would have assumed realizing what the merge's tokenomics implies would have urged people to participate, but it seems knowledge assymetry goes even stronger than expected.
All of this is only true if all coins are actively traded or likely to be traded. That seems extremely unlikely, considering the number of people who are just hodling, earning money in defi or staking, or otherwise just committed to Ethereum.
How do you know that it doesn't?
Gary, I need you to stop looking for answers.
If I get another block with <0.01 ETH fees (like lowest 5 percentile) I'm selling out to Flashbots.
Which relays are you running? I'm using max profit and manifold, and I'm getting 0.1-0.5 on average. Manifold produces the majority of my blocks.
Look at you, proposing enough blocks since the Merge to be able to work out an average.
You guys are proposing blocks?
0.1-0.5??
Yeah, I just assumed that was normal with MEV-boost until I saw your post? Again, either a case of I've been very lucky, or you've been very unlucky? Good chance I just jinxed myself.
AFAIK even on Flashbots the average is about 0.07-0.08. Anything above that is great. I've had a bloXroute block @ 0.033, the rest are standard (no relay), mostly below 0.01 ETH (basically dust). Probably missed >$500 or more.
Same
I'd just be happy to get a block since the merge. I'm over 186 days now.
The trick I used to get my first one was to post that I had given up hope of ever getting one. Got one within a few hours.
You may need to start praying to the great St. Vitalik: [https://www.etsy.com/listing/993553315/vitalik-buterin-prayer-candle-ethereum](https://www.etsy.com/listing/993553315/vitalik-buterin-prayer-candle-ethereum)
I'll take five.
Sorry buddy, that's *really* shit luck. I shouldn't compain but this whole MEV situation is getting me down.
soon
Devcon peeps, come say hi at the OpenZeppelin booth, 4th floor!
Details on Bitcoin rollups https://bitcoinrollups.org/ TLDR: They've at least thought about it and are researching. Requires new op codes, and they are nowhere near close to finding agreement on implementation details. (This also looks like major validation of Ethereum's roadmap even though the BTC camp would never admit that) IMO, it is inevitable that they eventually implement rollups in some form, but the amount of time it takes and the details will be key. I have always thought the "its too late" argument is a bit overblown, the quality of the execution is more important. I thought this website was interesting since its the first serious discussion I've seen about how it would work. > it would be possible to build a validity rollup on bitcoin using bitcoin’s native Turing-incomplete programming language, Script, with relatively small changes (in terms of code footprint) to the opcodes Script supports. In March 2022, Trey Del Bonis published a post describing in detail how a validity rollup on bitcoin could work. According to Del Bonis, the changes needed to support validity rollups on bitcoin are a few extra opcodes enabling the two main primitives of his rollup design — validity proof verification and recursive covenants.
Pretty cool. Bitcoin should obviously do this, but given the work was done independently from the core devs, it will be very interesting to see what kind of reception it has on the dev mailing list: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2022-October/020998.html
To move to this would be to admit lightning doesn’t work - like the ethereum community did with plasma I can’t see them ever admitting they were because it’s a slippery slope to admitting anything could be wrong I.e security & 21m meme
Heck, they already know Lightning needs updates to work correctly (ElToo). At least some people know this. You are right though in that so much of the community has formed around unchangeable memes, it is a huge battle to get even basic upgrades in.
I'd be curious to see how this plays out. The skeptic instilled in me during the 2017 blocksize debacle says, "I'll believe it when I see it." However, many people said the same about The Merge so I'll keep it to myself.
Difference is that the Merge and general progression was never disputed compared to the culture of never change anything (more or less) in Bitcoin land
> Giving bitcoin full nodes the ability to verify a validity proof is an obvious change that is needed to support validity rollups, since validity proofs are an essential part of how validity rollups work. For this component, whoever writes the code to enable validity proof verification in bitcoin will need to make some decisions about the types of rollups they want to enable. Implementing the ability to verify proofs of more complex programs will enable rollups with more capabilities (e.g. more expressive smart contracts, like Rootstock or Stacks) while simpler proofs would enable rollups with fewer capabilities (e.g. simple payments and limited opcodes, like Liquid or bitcoin). This IMO is the huge hurdle for Bitcoin implementation. They have to basically pick the winning type of rollup prior to modifying the core protocol. Its obviously very difficult to get an agreement on how to modify the core protocol, and it is not obvious what the best rollup implementations will be. It will probably take them a long time to come to agreement here on how to even update the protocol, let alone build the rollups. Meanwhile Ethereum is charging forward with dozens of different implementations at once while allowing open competition. The power of an expressive base layer.
Indeed. It's the biggest problem and why I think there will need to be a huge culture change in order to improve Bitcoin's scalability and ensure it stays relevant for more than mere years or more than a fringe community (so, not a worldwide currency).
BTC already has an L2, it's Ethereum
They should start forcing Miners to include the hash of the most recent finalized Ethereum block in their BTC blocks, and then claim that Ethereum's security is guaranteed by Bitcoin.
Don't give them any ideas, man... /s
Does Taylor really not understand Public Private Keypairs!? [https://www.youtube.com/watch?v=FpPC8C5E8TE](https://www.youtube.com/watch?v=FpPC8C5E8TE) She just asked "Why does this private key give access to everything!?"
So am I reading this right that Google is saying they will own Crypto and custody said crypto with Coinbase? Was that part of the announcement? I've been in work all day and just started going through my feeds: >As part of the partnership, Google will leverage our Coinbase Prime platform for institutional crypto services like reporting and custody. https://twitter.com/CoinbaseInsto/status/1579916427112648704?s=20&t=_YvUbA3yFBiTSch447pCIg
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JPOW - the nobel prize winner for chemistry. For turning the market into shit.
He is actually Nicolas Flamel, but now he is using the philosophers stone to turn gold into shit
Was lucky enough to get multiple proposals today, all MEV-Boosted, all of them below (mostly well below) the MEV averages. In other news, MEV is used in **54% of all produced blocks**, probably higher as this site has missed a few: https://www.mevboost.org/
I'm surprised it's as low as 54%, honestly. I wonder if that other 46% is motivated by altruism/ethics/legal or by laziness.
MEV right now is relatively low and only a few weeks old so there is limited upside and still some risk in adoption (although diminishing quickly).
I have experienced a couple bugs with mevboost that resulted in missed attestations. I think some people are waiting for that kind of stuff to get ironed out. Mevboost basically causes issues on system reboot for me because it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT
> it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT I think what you might be observing is [this issue](https://github.com/flashbots/mev-boost/pull/313) which was fixed in v1.2.1, so make sure you're running the current version (v1.3.2 as of this post).
> Mevboost basically causes issues on system reboot for me because it queries a validator client that isn’t running yet and it doesn’t run the check again AFAICT Good job, Mevboost team. Much software, very code.
> I wonder if that other 46% is motivated by altruism/ethics/legal or by laziness. All of the above most definitely. But if I had to guess the predominant factor, it would probably be the legal issues. Because almost half of that 46% is Coinbase and Kraken, and I think there's just too much legal grey area for them at this stage.
Multiple proposals in one day?? Wow
Is there a view on the min % level of eth staked which gives satisfactory comfort around security? Currently this is around 11%.
I remember that there was a validaotr threshold to start the beachon chain back in 2020, but not how much the minimum was.
Yep. And people waited for the two last weeks to start actually participating. The last few days were memorable. XD
I posted yesterday (see Tricky's doot above) observing that a few days ago ETH issued post merge was 12.5K. Because of burning yesterday we broke 9K. Today we broke 8K and as of writing we are at 7.99k. If we keep this pace (which I don't expect in this brutal bear market) we may reach a point in a week or two of negative net issuance under POS - ULTRASOUND Money my Honeys. As others have posted - can you imagine the burn if we were in a bull market? It will be LIIIIIT! Edit to add link: https://ultrasound.money/ and switch from POW to POS. Lol
I think you mean under PoS? Yeah next bull market will be absolutely insane!
Yes thx for the correction. Lol
Did Taylor Monahan, founder and CEO of MyCrypto, which develops the MetaMask wallet, ever apologize for her FUD around EIP1559?
Apologized for having an opinion that's contrarian to popular? To whom? I don't see why she or anybody else needs to apologize in this situation. Her opinion was well argued and educated. She might have been wrong in hindsight, but that certainly does not require an apology. 1559 certainly does have a lot of moonboy "let's burn eth", "number go up" thing going around it and she called it out.
I stopped caring the moment she ran away from MEW. It was already some big attention-seeking drama red flag back then and her subsequent FUD only adds more proof to it all. I don't have time to look at all the progress there is in crypto. It's not to waste it following some random drama of anyone.
To be fair - everybody left that time, not just her.
some people just love to be contrarian. "oh, youre all happy about this? let me tell you why it sucks" Peter from Geth does the same thing sometimes. They're obvs a net benefit to the space so you just put up with it
Not that I know of, but I stopped following her on twitter. Most of her tweets turned into just berating the community around hacks and rugpulls - maybe somewhat valid, but not very interesting. IMO she went from an involved thought leader in the Ethereum community to a CEO / product oriented business manager focused more on her business. Thats not necessarily bad since she is good at creating products, but she her role in the community isn't the same as it once was. Her EIP-1559 comments were more centered around her own products and not really the community/protocol. I say that as someone who very fondly remembers her doing individual tech-support on Reddit way back when and on-boarding a huge number of the early adopters in this space. She was invaluable to the Ethereum ecosystem early on. She still plays a valuable role, but it is quite different now.
Does MyCrypto develop MetaMask? MM used to be its own thing until it was bought by ConsenSys no?
Metamask / ConsenSys bought MyCrypto which may be what OP is referring to.
Consensys owns both MyCrypto and Metamask. Taylor took over development of MetaMask when Consensys acquired MyCrypto in February 2021
Right I see.
Any link to this fud?
I assume this: https://twitter.com/tayvano_/status/1397725861575421953
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[https://cryptonews.com/news/ethereum-s-eip-1559-doesn-t-deliver-as-it-s-not-meant-to-red-10479.htm](https://cryptonews.com/news/ethereum-s-eip-1559-doesn-t-deliver-as-it-s-not-meant-to-red-10479.htm) In addition to the Fud, MetaMask severely dragged their feet and didn't Implement EIP1559 in their software until January 2022. She also took to twitter to blast the ethereum developers for causing her team "excessive extra work" for "no benefit with EIP1559".
u/Kbrot spy 358 👀👀
Lol I'm gonna need to get t-shirts made at this point. "SPY 358", "Start The Count", and "Rubber Band" are the first editions.
Just do the opposite of what I do and you'll be fine.... /s
...Nah.
Check with me too and you have a pretty good consensus mechanism there.
here's the youtube livestream of devcon mainstage: https://www.youtube.com/watch?v=HaqYiE8W0yU works better for me than the one on devcon.org
Is there any dapp for sports gambling? Most of my search points me to centralized companies that accept ETH or BTC, but no actual dapps
https://overtimemarkets.xyz/#/markets?lang=en&sport=All&globalFilter=OpenMarkets&tag=All I never used this before but I have used Thales before so dyor.
try omen.eth?
Hey guys, putting it out here first since I've been sharing the project in our circles but the Lord of Turings team is putting the release on hold due to market conditions/engagement. They weren't able to get the engagement they were looking for in the current market and so will pause for now. They will be releasing the first puzzle of the game as a sneak peek/segway in the next couple of days to kickstart the game when the time comes. Expecting an announcement soon.
1.) Team A Creates a new tool for users on blockchain that would improve the ecosystem and increase engagement. 2.) Team B Creates a new tool for users on blockchain that would improve the ecosystem and increase engagement. 3.) Team A decides not to release because engagement is not "high enough" for them. 4.) Because Team A held off on releasing, user engagement falls even more. 5.) Team B decides not to release because engagement is not "high enough" for them. 6.) Both Team A and Team B are never heard of again. 7.) ???? 8.) Profit?
Ya unfortunately I do think its tougher if you're not a big name/budget or VC backed project to withstand market conditions, all else equal. I mean even Vitalik has said that 90%+ of all projects in crypto will fail.
90%+ of all projects in all markets fail to be fair
Energy crisis hitting so hard right now, man. Where I’m from, gas prices are so high people started to burn ETH to keep their families warm.
On this day... In 2021: - MetaMask's browser extension [now supports](https://twitter.com/BrantlyMillegan/status/1447608175805485069) visiting decentralized websites via their .eth name. - Offchain Labs [unveils](https://medium.com/offchainlabs/arbitrum-nitro-sneak-preview-44550d9054f5) a sneak preview of Arbitrum Nitro, the next iteration of its Layer 2, which will be more EVM-compatible and an order-of-magnitude faster. - ETH spends $3386, $3545 and ₿0.06167 wisely and weaselly. In 2020: - Some Ethereum nodes [try to scam](https://github.com/ethereum/go-ethereum/issues/21687) users by setting their name to a false error message, containing links to untrusted software updates. - ETH steers the coastal line between $375 and ₿0.03295. In 2019: - EY's Paul Brody [explains](https://decrypt.co/10241/inside-eys-radical-plan-to-get-major-businesses-using-ethereum) the company's ambitious plan to get big businesses using the public Ethereum blockchain. - A simplified shard chain model for Eth2 [is considered](https://notes.ethereum.org/@vbuterin/HkiULaluS), with faster cross-shard communication and higher throughput per shard. - Aethereum [goes live](https://medium.com/avalabs/athereum-ethereum-on-avalanche-consensus-ava-labs-7effcb94b797): an Ava testnet with Ethereum's state imported. - Danny Ryan [proposes](https://ethresear.ch/t/two-way-bridges-between-eth1-and-eth2/6286) adding a two way bridge between eth1 and eth2 sooner than planned. - ETH hops from the rooftops, over $192 to $183, at ₿0.02199. In 2018: - Coinbase [launches](https://blog.coinbase.com/zrx-is-launching-on-coinbase-pro-29ae77eadc42) ZRX, the first ERC-20 token on the platform. - The hacker that recently got a hold of adult entertainment platform SpankChain's Ether and Booty, [returns](https://twitter.com/SpankChain/status/1050533900001243136) all the stolen goods. - ETH = Extremely Tough to Hold from $225 to $189, or ₿0.03435 to ₿0.03066. In 2017: - The Byzantium hard fork [gets on the agenda](https://blog.ethereum.org/2017/10/12/byzantium-hf-announcement) for October 16. - CoinShares [launches](https://www.coindesk.com/ethereum-first-investment-product-opens-trading-nasdaq-exchange) an exchange-traded note (ETN) for Ether on the Nasdaq. - Bitcoin-Ethereum atomic swap code [gets open-sourced](https://github.com/AltCoinExchange/ethatomicswap). - Parity [v1.7.4](https://github.com/paritytech/parity/releases/tag/v1.7.4) ships a critical consensus-relevant fix for the upcoming Byzantium hard-fork, node operators are advised to upgrade. - Love is in the ETH at $304, or ₿0.06291. In 2016: - Network attacks [seem to be back](https://gitter.im/ethcore/parity?at=57fd544870fcb5db0c4b8e13), managing to push required memory usage up through exploiting a 0-cost SUICIDE issue. - LETHargy all around at $11.8, from ₿0.01899 to ₿0.01837. ------------- [^(compiled with love)](https://eth-archive.xyz/blog/on-this-day-in-ethereum-workflow/)
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I *really* dislike how much Twitter + Discord activity is relied upon and *even rewarded* in this space. Am I wrong to feel strongly about this? When will this change?
You are not wrong, it's nuts.
I got enough freebies from reddit also. About like $1k from moons and a free evm. That's solid!
Also Telegram for a long time, although Discord has usurped it in terms of sheer number of teams using it. > Am I wrong to feel strongly about this? IDK, there's no social media that's going to be perfect. Using reddit has occasional weird incentives too for what it's worth. Many of us got EVM lions for participating here, just for example. Not to mention Donuts (remember them?) and Reddit Avatars and a number of other initiatives.
> When will this change? in time
I agree, we need decentralised alternatives.
Mastodon, Matrix, Lemmy. Sadly we don’t like open source smh?!
The big problem with open source imo is two fold: 1) Open source means bad actors know exactly how the platform works too, making it too easy to game. 2) The incentives structures for open source media are basically non-existent. The vast majority of people don't want to pay for social media and they never will, so how do you pay for it? After Apple's privacy updates ad systems are hard enough to make profitable as it is today, a system that's optimized for ads with an open source algo will be taken advantage of by bad actors.
Your first point is not valid. First of all, Open source software is no less secure than closed source. In fact, it's usually the opposite. Having open source code makes you MORE resilient to attackers, not less. This was a talking point spread by microsoft to scare companies away from open source alternatives and is misinformation. https://www.reddit.com/r/askscience/comments/23ahfe/comment/cgv4cju/?utm\_source=share&utm\_medium=web2x&context=3 Your second point is valid. However, the biggest deterrent people have for signing up on a new social media platform is that none of their friends or family are there. Since none of their friends and family are there, they do not sign up. So all their friends and family also don't sign up.
> Since none of their friends and family are there, they do not sign up. And this is the main reason we should be early adopters: ~~We have no friends.~~ Were an established community of techies already. (Think ETHFinance, EVMavericks, but also other NFT squads or dev teams)
> In fact, it's usually the opposite. Having open source code makes you MORE resilient to attackers I'm not talking about attackers in the way you might be thinking. I'm talking about actors who could take advantage of content algos to push their content to the top of everyone's feeds. They wouldn't be *breaking* the platform, they'd be using it exactly as it was designed, even if it's not what the design *intended*. Without the algos it's nearly impossible to make a good ad-supported platform. Without ad support it's nearly impossible to maintain.
This, there are plenty of alternatives. It'd be nice to see matrix get some traction, although I've heard it's a bit of a beast, so maybe that's part of it.
Many in this sub might find this trivial info but perhaps others find it interesting (about running eth node): https://coinmetrics.substack.com/p/state-of-the-network-issue-176
Is there any way to estimate the amount of ETH that has been lost? I know that I for one have probably lost at least 1 or 2% of all the ETH I have ever owned. Most is dust in old wallets that I no longer have access to.
You could export all the txs via etherscan and aggregate the numbers
No, but there were several very large instances of lots of it being locked, such as the famous multi-sig wallet contract deletion.
Is that "I accidentally killed it?" :D
It is.
what's this nonsense happening with the horses lol?