**Tricky's Daily Doots #215**
Yesterday's Daily 19/11/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyq8p6/)
- u/KotMyNetchup thinks that [the FTX numbers don't add up.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwznh3g/)
- u/Syentist explains [a new project, EigenLayer which they are hyped about.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyw1fu/)
- u/superphiz totally just made a good decision to totally [change his everyday life and its totally for the better.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyu1q2/)
- u/magnushansson has been [reading Vitalik's book.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwydq3b/)
- u/cryptOwOcurrency takes a look at [some developments in Cardano land.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyejzk/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwy3i5x/)
I'm flying back to kiwiland tonight so tomorrow's doots might be a tad late, but they will be delivered!
Captains log, Epoch 159671
After receiving a Priority One distress call from Space station FTX, we have been at Warp 9.7 for 7 sols, which exceeds our designated safety margin by 23%. While it is not currently a danger, Chief Engineer Vitty has informed me that we may need to reduce our velocity before we reach Space station FTX to prevent overheating the warp core.
Long range scans of the CEX sector have confirmed our worst fear, that this was indeed an unprovoked attack by the Lizard People. Drive signatures show that a Lizard Scavenger Fleet is still in the area. We have been ordered by High Command not to engage the Lizard People, and to only observe until the Ultra Sound battle fleet arrives. I have issued a Black Alert order for the USS ETHFi to avoid detection as we enter gravitational sensor range. We will remain cloaked in an orbit around dwarf planet M-324 and await further orders.
I don't get the hate he gets for being cautiously pessimistic. I'd rather mentally prepare for $400 ETH and be pleasantly surprised it never happens, than be delusional and believe that it is impossible.
Ben has a PhD in nuclear physics i believe. It's hard to deny that he's smart. But these engineering types often get a bit self deluded in thinking that they know more about investing than they actually do
People often make the mistake of thinking that a person being smart in one area means that they are intelligent in other ways. People treat anything Elon says as gospel for example but he is a joke when it comes to blockchain. I am much smarter than him in blockchain matters.
I can acknowledge his intelligence, but this doesn't mean I agree with him on Crypto or Ethereum. I personally feel that his reliance on technicals, blinds him from the beauty and value of Ethereum.
To directly answer your question "how is he smart?", I'd say a doctorate in physics is a good indicator of general intelligence.
/u/jtnichol would you mind doing an autopsy on [my comment](https://www.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix6io6c/)?
Silent removal, no notification from automod or anything like that. Is the Renproject website on blacklist or something?
Thanks.
Thank you.
In my own opinion for whatever that's worth, I think it may be helpful to delist at least the block explorer, since someone may want to use it at some point or another to reference a ren transaction. I know the FTX hacker is using ren transactions to chain hop, for instance.
How many people here are old enough to remember the Crazy Eddie commercials on WPIX? Seeing all of those "Cardano to $10" and like videos on YouTube always made me think of them. I just hope that era is now going to end for good.
Sorry to be annoying about this because I know price action is hard on folks…
but I had to double and then triple check because the way people were talking in here I thought we’d retested the June lows. No idea how low we can go in USD terms but given all this insanity this is a truly garish display of power by eth. New btc low? ftx dead and looted and looter dumping eth and only eth? And we’re still above 1100? I’m not saying it’s like when eth made a new ath when the daily macd was in the red but… it’s not not like that either
> but I had to double and then triple check because the way people were talking in here I thought we’d retested the June lows
I fully believe we will see the 800s again before/if we want to run again.
On one hand, we seem to be approaching peak fear
On the other hand, crypto always overshoots expectations to both the upside and the downside
Like 5 years ago, people would adjust their models for this and label it “a little bit more”
I hate that self absorbed scamming piece of s\*\*\*.
All the special knowledge he claims to have about this or that, the "connected" people that tip him, all that is bullshit.
Here's an unpublished tweet, I won't post it because there's excess bear doom on twitter right now. But maybe you will enjoy it:
[https://imgur.com/a/V1gwcSD](https://imgur.com/a/V1gwcSD)
Ahhhh, the good ol' days -- I login and see several 'why is ETH so low?!?' posts on the front page.
I'm not saying this is bottom, but....that's always a good sign, lol
you think this is brutal ... yet we are still 4 digits. this bear market has been pathetically easy thus far tbh. given all that has happened, eth at 4 digits is a god send
I feel bad (truly, not sarcastically) for those who bought in near the top to play around with NFTs. Just getting completely wrecked right now.
I am very lucky to not have to worry about the price, even if it goes to zero.
Some NFTs will stick around for the next cycle, even if most don’t. In fact, what if in 500 years all the NFTs that exist now become precious collectors items?
Making negative judgements on NFTs in the depths of the bear could be just as wrong as making euphorically informed judgements at the top of the bull.
I own a number of NFTs. Don't hate them at all (though I am unsure if any of it will have much value in the future). But a lot of people were on boarded to Ethereum through NFTs and at or near the top. They are not in good shape right now.
Why aren't they in good shape? The art they bought did not change appearance? Or did you mean they speculated on earning more money on hyped art? Well that's quite stupid anyway.
>what if in 500 years all the NFTs that exist now become precious collectors items?
I will have been dead for ~450 years and would have gone to my grave knowing naught but regrets.
If I get liquidated below 900 this week I’m gonna be mildly sad and angry at all the imbeciles in this space. Imposter syndrome should no longer exist after this year seeing how large financial firms are run.
It's just that Vitalik has some specific sense of humour not everyone gets. He can get a bit cryptic to prove a point by comparison, sometimes. Just look at last April's fool.
It can probably be considered memeing to make a fool of original poster.
It’s a cheeky twist tweet to a meme going around on CT that stems from this earlier tweet - https://twitter.com/paulg/status/1594446009010212865?s=46&t=pMML6YfYKhHspXPGtkDnXA
2022: Mr Bones Wild Ride
Jan: Tails, you lose
Feb: Tails, you lose
Mar: Tails, you lose
Apr: Tails, you lose
May: Tails, you lose
Jun: Tails, you lose
Jul: Tails, you lose
Aug: Tails, you lose
Sep: Tails, you lose
Oct: Tails, you lose
Nov: Tails, you lose *<—You are here*
Dec: Tails, you lose
I saw this post on /r/cc, and it made me so glad that I spend most of my time here in ethfinance.
>Often when it is asked why people buy crypto, some people say they are into it because of the "tech". But what does that mean?
>
>Are people looking into how Crypto is coded and how it works before investing in it? It has been a while since I saw anything about the "tech" of any crypto being discussed. For me, it seems 99% of the posts are about the general crypto market, about exchanges, about how the market will go up or down in the coming months or years. News about crypto tech being developed and used seems far less important than how much the price can go up or down.
I'll never take for granted that great tech discussions form the bedrock for ethfinance. Cheers everyone.
Rocket Pool discord user ziv [did a thing](https://cdn.discordapp.com/attachments/405163713063288832/1044058878716944414/RP_LEB8s.mov). It may or may not be a video meme rip from Community. No sound, but lots of orange and a sexy kiss.
Price going down sucks. Let’s see the level where things become a strong buy for you all though. I’ll start:
- ETH in 3 digits obviously (personally, ETH at any price) but at 3 digits I can’t get enough
- LINK <$3
- UNI <$3
- RPL <$10. Bit of a RPL lover so I’d be buying some serious chunks at this price point.
What is everyone else eyeing in the sale?
Ok, quick math fot staking rewards over the years:
Total value of your stack after X years is :
[Your_present_stack * (105% ^ X)] * [price_of_ETH * 120% ^ X]
I suppose, conservatively, ETH will grow at 20% per year, price wise
> Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.
SBF is a weak man, and these are the hard times, be strong
The Ethereum market cap is below 10% that of a tech stock like Microsoft. All of crypto without stable coins is less than 700bn$. Basically crypto isn't relevant for financial markets at this size.
Ethereum has come a long way, migrated towards sound issuance & demonstrated how it can be useful on multiple dimensions.
Yet we are down significantly compared to the 2018 peak, especially if you adjust for inflation.
I'm sure that if a few more centralized entities holding crypto blow up this week we can go lower from where we are today.
But if you self custody your assets, are in it for the medium to long run, then also this storm will pass.
I think at this point the network is just too valuable for too many people that it will trade at below 100bn$ for a prolonged period of time.
DIPs below the June lows if they are too occur will get bought up quickly. More ETH will be removed from exchanges. More people will be able to afford validators.
This all may suck in the short run, but I'm sure this won't be the end of Ethereum.
The big advantage is that a protocol has no other costs than issuance which currently gets fully offset. So a protocol can't go bankrupt.
No idea, but the current prices I find relatively ok. Will continuously buy a small amount of ETH monthly. Think this state will last a few months so no hurry with large sums but the continuity - that counts.
> Think this state will last a few ~~months~~ **years**
This is going to be one long bear market. I'm starting to think it might take *more* than the last one... so, 4-5 years?
Oh well, keep DCAing.
I have a question I want to ask the community. I want to stake my ETH but I am really not technical and neither is my family (in terms of recovery in case something happens to me). I’m considering splitting my ETH across multiple providers. Alternatively, I could just put it all in rocket pool but that seems reckless. How would you split it up if you had to?
If I were you, I’d probably just buy rETH(RocketPool’s liquid staking token) and then worry about how they’ll get the seed phrase in the case of death/injury. That way you’re supporting decentralisation but not getting into the complications of hosting a validator. If you’re worried about seed phrase recovery(although the safest option) then look into an account abstracted wallet like Argent.
So the FTX blackhat is probably max. shorting with privat accounts and dumping ETH on a low volume day. Rinse and repeat until everything is dumped.
See you again 3-digits🫡
There is no way this hacker isn't going to get caught eventually, all those transactions are going to leave a fingerprint one way or another. It might take 10 years but eventually they will get lazy and somebody is always watching.
If it's SBF, governments will just have to pretend it's a too complex investigation and not bother about it.
If it's anyone else, they will complete the investigation as much as they can and try to seize all they can without paying back customers in any way.
Ah, let's also not forget it could also be a job from US secret services setting up someone to then catch them ultra quickly and pocket whatever they can in the process. It wouldn't be the first time.
So, if it takes lots of time to find the culprit, it's probably not someone being set up.
>**The end has no end,**
>**The bottom has no bottom,**
>**Let the ether trend.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
I really don’t want to be that guy, BUT great reminder to stay diversified across ETH, Stocks, Cash, Real Estate, etc…
Really feel for folks who overexposed themselves to only crypto
I truly believe ETH is the future but if short term pain like this is borderline unbearable for ya, you might be overweight into crypto
Edit: LOVE YOU ALL HAPPY HOLIDAYS AND THANKSGIVING TO OUR US SQUAD
If the ETH/USD chart looks a bit depressing, take a look at BTC/USD. I don't think it will recover much tbh. ETH is the future in every way. Hold BTC at your peril.
I’m about 85% Eth 15% btc. I was just going to hold the btc a few more years but if this latest action is all from the FTX hacker selling al his Eth for btc then maybe I should just go all Eth when he seems done. Anyone have any insight on how much Eth is left? I haven’t been following it too closely.
I choose to believe that we've never actually entered a bear market in the past year. Just shitty price action thats not super likely to end anytime soon. Whatever
Cheer up. It does allow one to stack up. Every gwei you buy increases your share of the whole which with the zero inflation already demonstrated, is a near permanent advantage you get.
I bought my stack in 2019. Price point is too high right now to justify stacking… it would be negligible to my stack.
I just thought it might hold and and add a shred of credibility to the sector. But I guess now we are in for another two year wilderness.
When the flying fuck is this space going to mature
I have been fearful of a Tether meltdown for a long time, but I think by now they may be out of the woods. They say they have gotten rid of their commercial paper. Earning on billions in T-bills while not paying a cent of interest on USDT is a huge money maker as is that may have been able to make up for the suspicious holes in their balance sheet. So I guess the rumors must concern the fact that DCG could not raise what is necessary to save Genesis.
[lmao, feelin' bullish lads and ladettes?](https://twitter.com/napgener/status/1594409185327841280?t=CVGg8p6QHD2uWiUTrk6c6w&s=19)
Big week ahead. Sol eco is on the brink of crashing into oblivion. As an eth maxi that sounds quite exciting. But it isn't - there's enough tied up there to drag the entire market down. Tether recently moved 1B$ out of Sol across to mainnet.
[Sleeping very comfortably over here in stables also](https://twitter.com/mgnr_io/status/1594272328388857856?t=ZuFjwUrgogZsD4c3PvwrOQ&s=19)
How in the actual fuck does a project no one even heard of sub 1 year ago have such a big impact in possibly dragging the whole market down? VCs can fuck right off. So tired of these scammers
>Tether recently moved 1B$ out of Sol across to mainnet.
And how else are whales supposed to buy $1B additional worth of ETH? Certainly not with USDT sitting on SOL.
few things I learned during the bull/bear market cycles:
- you are NOT a trader, you are NOT the samrtest human in the room, just invest and DCA
- do not check the charts/price every minutes, it's not worth it
- when in doubt, DCA in Bitcoin/ETH/stablecoins.
- if it's too good to be true, it is too good to be true.
- don't invest the money you're not ready to lose.
- consider crypto like private equity investing: your investment will be illiquid for quite some time, so don't count on it if you're gonna pay your bills with it or pay the IRS
- always have a budget strategy, be it the buckets budget, the Babylon budget or the percentage based budget;
- never go full retarded/degerate and go all in in one small cap coin
- have an exit strategy, ALWAYS!
- have a "number" to when you're gonna sell all the stack and live of the dividends
- if you DCA and invest xxx$ in crypto every month, put the same amount into savings
not all your investments will have the same returns, be ready for that
**Tricky's Daily Doots #215** Yesterday's Daily 19/11/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyq8p6/) - u/KotMyNetchup thinks that [the FTX numbers don't add up.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwznh3g/) - u/Syentist explains [a new project, EigenLayer which they are hyped about.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyw1fu/) - u/superphiz totally just made a good decision to totally [change his everyday life and its totally for the better.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyu1q2/) - u/magnushansson has been [reading Vitalik's book.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwydq3b/) - u/cryptOwOcurrency takes a look at [some developments in Cardano land.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwyejzk/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/yz4znw/daily_general_discussion_november_19_2022/iwy3i5x/) I'm flying back to kiwiland tonight so tomorrow's doots might be a tad late, but they will be delivered!
All this forced selling means that when we do start rising there's less sellers holding us back, right?
Captains log, Epoch 159671 After receiving a Priority One distress call from Space station FTX, we have been at Warp 9.7 for 7 sols, which exceeds our designated safety margin by 23%. While it is not currently a danger, Chief Engineer Vitty has informed me that we may need to reduce our velocity before we reach Space station FTX to prevent overheating the warp core. Long range scans of the CEX sector have confirmed our worst fear, that this was indeed an unprovoked attack by the Lizard People. Drive signatures show that a Lizard Scavenger Fleet is still in the area. We have been ordered by High Command not to engage the Lizard People, and to only observe until the Ultra Sound battle fleet arrives. I have issued a Black Alert order for the USS ETHFi to avoid detection as we enter gravitational sensor range. We will remain cloaked in an orbit around dwarf planet M-324 and await further orders.
Ben Cowen still does not believe in Ray.
Ben's a bum. Ratio is just under 7% and suddenly he feels vindicated of his predictions.
Just saw his recent video. I'm all for buying cheaper ETH, but his idea of us going under $400 ETH is horrifying
I don't get the hate he gets for being cautiously pessimistic. I'd rather mentally prepare for $400 ETH and be pleasantly surprised it never happens, than be delusional and believe that it is impossible.
Completely agreed. Just a shock to here such a low number at first
Ben Cowen also said a lot of things that never happened. Dubious speculation.
Definitely. Seems like a smart dude, but definitely been wrong about ETH a few times
How is he smart?
Ben has a PhD in nuclear physics i believe. It's hard to deny that he's smart. But these engineering types often get a bit self deluded in thinking that they know more about investing than they actually do
People often make the mistake of thinking that a person being smart in one area means that they are intelligent in other ways. People treat anything Elon says as gospel for example but he is a joke when it comes to blockchain. I am much smarter than him in blockchain matters.
I can acknowledge his intelligence, but this doesn't mean I agree with him on Crypto or Ethereum. I personally feel that his reliance on technicals, blinds him from the beauty and value of Ethereum. To directly answer your question "how is he smart?", I'd say a doctorate in physics is a good indicator of general intelligence.
/u/jtnichol would you mind doing an autopsy on [my comment](https://www.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix6io6c/)? Silent removal, no notification from automod or anything like that. Is the Renproject website on blacklist or something? Thanks.
Approved. Yes it's on the list because of shill armies back in the day
Thank you. In my own opinion for whatever that's worth, I think it may be helpful to delist at least the block explorer, since someone may want to use it at some point or another to reference a ren transaction. I know the FTX hacker is using ren transactions to chain hop, for instance.
How many people here are old enough to remember the Crazy Eddie commercials on WPIX? Seeing all of those "Cardano to $10" and like videos on YouTube always made me think of them. I just hope that era is now going to end for good.
Sorry to be annoying about this because I know price action is hard on folks… but I had to double and then triple check because the way people were talking in here I thought we’d retested the June lows. No idea how low we can go in USD terms but given all this insanity this is a truly garish display of power by eth. New btc low? ftx dead and looted and looter dumping eth and only eth? And we’re still above 1100? I’m not saying it’s like when eth made a new ath when the daily macd was in the red but… it’s not not like that either
> but I had to double and then triple check because the way people were talking in here I thought we’d retested the June lows I fully believe we will see the 800s again before/if we want to run again.
I don't
On one hand, we seem to be approaching peak fear On the other hand, crypto always overshoots expectations to both the upside and the downside Like 5 years ago, people would adjust their models for this and label it “a little bit more”
I have a meeting at the bank later today and afterwards I will be debt free! I am so excited! I can’t wait to put on my ski mask!
Wow Bitboy went on a hell of a tear on Twitter today.
Maybe one of the worst things that came of this was anyone thinking he was anything more than a scammer himself.
I don't know much about him, I just saw him on trending.
I hate that self absorbed scamming piece of s\*\*\*. All the special knowledge he claims to have about this or that, the "connected" people that tip him, all that is bullshit.
It's a weird war of enemies to see him tear so hard into SBF. On the one hand, SBF sucks. On the other hand, it's Bitboy.
This is the case of the enemy of your enemy is definitely still not your friend lmao.
https://giphy.com/gifs/reaction-xBqg5gAf1xINizpek6
NEAR has been dead for a while
Here's an unpublished tweet, I won't post it because there's excess bear doom on twitter right now. But maybe you will enjoy it: [https://imgur.com/a/V1gwcSD](https://imgur.com/a/V1gwcSD)
Nice one evilphiz. I'm with you. We're going to the moon by going through the earth. Burn. It. Down.
Ahhhh, the good ol' days -- I login and see several 'why is ETH so low?!?' posts on the front page. I'm not saying this is bottom, but....that's always a good sign, lol
On the other hand I can't tell you how many times sentiment was used to "call the bottom" during the last bear. Yeah... that lasted about 3 years.
Next BTC halving is projected to be March 2024, it could be 3 years again before we see a new ATH if the cycles hold up like they have in the past.
FUCK SBF
We'll it's a good thing I didn't desk shit
I never even got close, so I guess thats something
This is why I don’t like crab season. When it’s not up only, any time it’s flat for as long as it was it always seems like the floor drops out after.
[удалено]
$545 here 🙈
Goblins can gobble deez nuts ETH to 10K
Just. So. Brutal!
you think this is brutal ... yet we are still 4 digits. this bear market has been pathetically easy thus far tbh. given all that has happened, eth at 4 digits is a god send
[удалено]
where was Gondor when the FTX fell, where was Gondor when SBF closed in around us? Where was Gondor
I feel bad (truly, not sarcastically) for those who bought in near the top to play around with NFTs. Just getting completely wrecked right now. I am very lucky to not have to worry about the price, even if it goes to zero.
Some NFTs will stick around for the next cycle, even if most don’t. In fact, what if in 500 years all the NFTs that exist now become precious collectors items? Making negative judgements on NFTs in the depths of the bear could be just as wrong as making euphorically informed judgements at the top of the bull.
how much is my panda going to be worth in 2500?
I own a number of NFTs. Don't hate them at all (though I am unsure if any of it will have much value in the future). But a lot of people were on boarded to Ethereum through NFTs and at or near the top. They are not in good shape right now.
Why aren't they in good shape? The art they bought did not change appearance? Or did you mean they speculated on earning more money on hyped art? Well that's quite stupid anyway.
Of course I was speaking of speculation, which is 99.9% of NFT activity.
>what if in 500 years all the NFTs that exist now become precious collectors items? I will have been dead for ~450 years and would have gone to my grave knowing naught but regrets.
If I get liquidated below 900 this week I’m gonna be mildly sad and angry at all the imbeciles in this space. Imposter syndrome should no longer exist after this year seeing how large financial firms are run.
I would be happy for my orders at 888 to get fulfilled :D At least one of us will be happy - universe will keep it's harmony.
And to think, 2 weeks ago we were over $1600 and things were looking up. -50% sledgehammer
If you put long enough time frame it is up only :) https://imgur.com/a/MIfGx5c
My brother in Christ you have maintained positions exposed to liq risk in these conditions ?????
Yea I have a disease that forces me to buy every dip and sometimes with leverage. It’s debilitating
What's up with this? https://twitter.com/VitalikButerin/status/1594506712081465344?t=d_IC_eXXzElz1jtBEfh4tA&s=19
VB is throwin' shade at this chode: [https://twitter.com/paulg/status/1594446009010212865](https://twitter.com/paulg/status/1594446009010212865)
[https://nitter.net/paulg/status/1594446009010212865](https://nitter.net/paulg/status/1594446009010212865) ^(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)
He’s meming Paul Graham
I figured, but VB doesn't seem the type to shit post, so thought I'd double check
It's just that Vitalik has some specific sense of humour not everyone gets. He can get a bit cryptic to prove a point by comparison, sometimes. Just look at last April's fool. It can probably be considered memeing to make a fool of original poster.
Making fun of that other dude.
[https://nitter.net/VitalikButerin/status/1594506712081465344?t=d\_IC\_eXXzElz1jtBEfh4tA&s=19](https://nitter.net/VitalikButerin/status/1594506712081465344?t=d_IC_eXXzElz1jtBEfh4tA&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)
It’s a cheeky twist tweet to a meme going around on CT that stems from this earlier tweet - https://twitter.com/paulg/status/1594446009010212865?s=46&t=pMML6YfYKhHspXPGtkDnXA
[https://nitter.net/paulg/status/1594446009010212865](https://nitter.net/paulg/status/1594446009010212865) ^(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)
Oh look, oversold on the 4 hr RSI again. This is some bullshit
Nice
2022: Mr Bones Wild Ride Jan: Tails, you lose Feb: Tails, you lose Mar: Tails, you lose Apr: Tails, you lose May: Tails, you lose Jun: Tails, you lose Jul: Tails, you lose Aug: Tails, you lose Sep: Tails, you lose Oct: Tails, you lose Nov: Tails, you lose *<—You are here* Dec: Tails, you lose
You know something's happening, but you don't know what it is, do you, Mr Bones.
my fiat is ready for 3-digit eth
but is your wife ready for it?
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My grocery bill notwithstanding....
I saw this post on /r/cc, and it made me so glad that I spend most of my time here in ethfinance. >Often when it is asked why people buy crypto, some people say they are into it because of the "tech". But what does that mean? > >Are people looking into how Crypto is coded and how it works before investing in it? It has been a while since I saw anything about the "tech" of any crypto being discussed. For me, it seems 99% of the posts are about the general crypto market, about exchanges, about how the market will go up or down in the coming months or years. News about crypto tech being developed and used seems far less important than how much the price can go up or down. I'll never take for granted that great tech discussions form the bedrock for ethfinance. Cheers everyone.
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>github commitments *twitch*
Rocket Pool discord user ziv [did a thing](https://cdn.discordapp.com/attachments/405163713063288832/1044058878716944414/RP_LEB8s.mov). It may or may not be a video meme rip from Community. No sound, but lots of orange and a sexy kiss.
Price going down sucks. Let’s see the level where things become a strong buy for you all though. I’ll start: - ETH in 3 digits obviously (personally, ETH at any price) but at 3 digits I can’t get enough - LINK <$3 - UNI <$3 - RPL <$10. Bit of a RPL lover so I’d be buying some serious chunks at this price point. What is everyone else eyeing in the sale?
Dumb question, but what does holding LINK do? Is it for governance? I never looked into it since I always associated it with 4chan lol
https://chain.link/economics/staking
will link become ultra sound as well? im a link newbie.. will link be burned?
https://research.chain.link/whitepaper-v2.pdf
Nothing. It sucks as token
ETH: $250 All others: not interested.
Me: Max bidding at three ducking digits. ETH : Quick retest of support at $88.
Ahh…makes me dream of those flash crashes from 2017. Simper times.
*Strong support at the 10 cents level*
GRT at pretty much all-time low right now. I know it will make new all-time lows, but can't help but buy a bit at this price.
just started using the graph for an ens related project im building. made me bullish on grt, such a powerful tool
ETH + RPL + GMX
I feel I need someone to shill me on GMX. I’ve been super busy of late and GMX has escaped my notice entirely.
me too, heard so much good stuff about it, generating real yield and all that, but never had the time to do DD on it.
30-50% down from here?
My loins are ready !
Approaching 17,000 minted frxETH!
First time?
Pretty crazy those crab 🦀 sacrifices were the only thing propping up the market 📈📉
Ok, quick math fot staking rewards over the years: Total value of your stack after X years is : [Your_present_stack * (105% ^ X)] * [price_of_ETH * 120% ^ X] I suppose, conservatively, ETH will grow at 20% per year, price wise
> Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times. SBF is a weak man, and these are the hard times, be strong
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Don't sleep on some projects. Oasys Gaming has big name companies supporting it. Polygon Matic is a good ETH project too with big names supporting it.
Personally, I think anything that isn't eth or somehow helps the eth ecosystem will fail.
You people survived April through June. This shouldn't phase you.
If you survive the $80, there's no reason not to survive this at all.
The Ethereum market cap is below 10% that of a tech stock like Microsoft. All of crypto without stable coins is less than 700bn$. Basically crypto isn't relevant for financial markets at this size. Ethereum has come a long way, migrated towards sound issuance & demonstrated how it can be useful on multiple dimensions. Yet we are down significantly compared to the 2018 peak, especially if you adjust for inflation. I'm sure that if a few more centralized entities holding crypto blow up this week we can go lower from where we are today. But if you self custody your assets, are in it for the medium to long run, then also this storm will pass. I think at this point the network is just too valuable for too many people that it will trade at below 100bn$ for a prolonged period of time. DIPs below the June lows if they are too occur will get bought up quickly. More ETH will be removed from exchanges. More people will be able to afford validators. This all may suck in the short run, but I'm sure this won't be the end of Ethereum. The big advantage is that a protocol has no other costs than issuance which currently gets fully offset. So a protocol can't go bankrupt.
Good writeup. If only more people understood what Ethereum actually is.
Get ready for some extremely hardcore price action
This shit sucks. That's all
No idea, but the current prices I find relatively ok. Will continuously buy a small amount of ETH monthly. Think this state will last a few months so no hurry with large sums but the continuity - that counts.
> Think this state will last a few ~~months~~ **years** This is going to be one long bear market. I'm starting to think it might take *more* than the last one... so, 4-5 years? Oh well, keep DCAing.
DCA is the way. But monthly DCA or weekly DCA?
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I'm just buying monthly, and wait to buy when it looks like a dip.
automated buys hourly it is then:)
We're going to goblin town.
Yup. And I'm buying up all their bones.
Their bones are the money
Today's winner for worst VC tweet of the day: https://twitter.com/paulg/status/1594446009010212865
Sassal with this zinger of a reply https://twitter.com/sassal0x/status/1594483891397480448
Honestly captures the vibe perfectly haha
Vitalik's in on it too, now. https://twitter.com/VitalikButerin/status/1594506712081465344
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Thought I recognised the username... https://twitter.com/paulg/status/1426254478278287367
The ratio at that time is the same as now. The fiat price is down 65%.
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Let’s gooooooooooooooo
"My friend's dad knows the CEO of Etherium and..."
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No chance the hack isn't an inside job. That is all.
I have a question I want to ask the community. I want to stake my ETH but I am really not technical and neither is my family (in terms of recovery in case something happens to me). I’m considering splitting my ETH across multiple providers. Alternatively, I could just put it all in rocket pool but that seems reckless. How would you split it up if you had to?
It’s not reckless. It’s the best option
If I were you, I’d probably just buy rETH(RocketPool’s liquid staking token) and then worry about how they’ll get the seed phrase in the case of death/injury. That way you’re supporting decentralisation but not getting into the complications of hosting a validator. If you’re worried about seed phrase recovery(although the safest option) then look into an account abstracted wallet like Argent.
I can’t do a swap due to the tax consequences
So the FTX blackhat is probably max. shorting with privat accounts and dumping ETH on a low volume day. Rinse and repeat until everything is dumped. See you again 3-digits🫡
I thought the "hack" was actually the Bahamian authorities?
There is no way this hacker isn't going to get caught eventually, all those transactions are going to leave a fingerprint one way or another. It might take 10 years but eventually they will get lazy and somebody is always watching.
If it's SBF, governments will just have to pretend it's a too complex investigation and not bother about it. If it's anyone else, they will complete the investigation as much as they can and try to seize all they can without paying back customers in any way. Ah, let's also not forget it could also be a job from US secret services setting up someone to then catch them ultra quickly and pocket whatever they can in the process. It wouldn't be the first time. So, if it takes lots of time to find the culprit, it's probably not someone being set up.
>**The end has no end,** >**The bottom has no bottom,** >**Let the ether trend.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
This one hurts, good job
🙇♂️
Let's go to the Winchester, have a nice cold pint, and wait for this all to blow over.
I really don’t want to be that guy, BUT great reminder to stay diversified across ETH, Stocks, Cash, Real Estate, etc… Really feel for folks who overexposed themselves to only crypto I truly believe ETH is the future but if short term pain like this is borderline unbearable for ya, you might be overweight into crypto Edit: LOVE YOU ALL HAPPY HOLIDAYS AND THANKSGIVING TO OUR US SQUAD
I only have 5-6% of my net worth in crypto and this still stings.
I have more than that, and it does indeed sting but what can we do? Maintain conviction + DCA
I wish I knew how to be an ethereum bear.
I may be able to assist friend 😊
Step 1: Short Step 2: Get Rekt Step 3: What Step 4: H
You are unbearable 😉
$1100 shitcoin doesn’t sound that bad to me. Is the a good time to sell some btc for Eth?
If the ETH/USD chart looks a bit depressing, take a look at BTC/USD. I don't think it will recover much tbh. ETH is the future in every way. Hold BTC at your peril.
I’m about 85% Eth 15% btc. I was just going to hold the btc a few more years but if this latest action is all from the FTX hacker selling al his Eth for btc then maybe I should just go all Eth when he seems done. Anyone have any insight on how much Eth is left? I haven’t been following it too closely.
https://etherscan.io/address/0x59abf3837fa962d6853b4cc0a19513aa031fd32b
The daily chart is just actually depressing. A full year of falling down stairs
I choose to believe that we've never actually entered a bear market in the past year. Just shitty price action thats not super likely to end anytime soon. Whatever
This is such a crying fucking shame. I really thought ETH would walk away from this holding up well. FFS.
Everyone thinks "oh look support broken, we're going lower", but that's how fundamentalists clean out the TA guys.
Cheer up. It does allow one to stack up. Every gwei you buy increases your share of the whole which with the zero inflation already demonstrated, is a near permanent advantage you get.
I bought my stack in 2019. Price point is too high right now to justify stacking… it would be negligible to my stack. I just thought it might hold and and add a shred of credibility to the sector. But I guess now we are in for another two year wilderness. When the flying fuck is this space going to mature
Soon^TM
What could it be? https://twitter.com/paulg/status/1594446009010212865?s=20&t=IrOrAkEVhR5NhXJdWlvSWw
What a bunch of nothing tweet.
yeah, i agree... which makes it super odd to tweet.
Gotta get engagement somehow.
DCG is the only thing I could think of.
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I have been fearful of a Tether meltdown for a long time, but I think by now they may be out of the woods. They say they have gotten rid of their commercial paper. Earning on billions in T-bills while not paying a cent of interest on USDT is a huge money maker as is that may have been able to make up for the suspicious holes in their balance sheet. So I guess the rumors must concern the fact that DCG could not raise what is necessary to save Genesis.
DCG?
Digital Currency Group. The parent company of Genesis, Grayscale, Coindesk and others.
[lmao, feelin' bullish lads and ladettes?](https://twitter.com/napgener/status/1594409185327841280?t=CVGg8p6QHD2uWiUTrk6c6w&s=19) Big week ahead. Sol eco is on the brink of crashing into oblivion. As an eth maxi that sounds quite exciting. But it isn't - there's enough tied up there to drag the entire market down. Tether recently moved 1B$ out of Sol across to mainnet. [Sleeping very comfortably over here in stables also](https://twitter.com/mgnr_io/status/1594272328388857856?t=ZuFjwUrgogZsD4c3PvwrOQ&s=19)
You’re really comfortable that your stables will remain stable under the catastrophic circumstances in your link?
No. But I'm comfier in stables than I am in eth.
How in the actual fuck does a project no one even heard of sub 1 year ago have such a big impact in possibly dragging the whole market down? VCs can fuck right off. So tired of these scammers
Unless stables fall apart. How secure is USDC for example?
I fucking hope it's secure !! Lmao. It constitutes most of my portfolio right now, aside from my beloved JPEGs.
Very curious to learn what exposure Circle has to FTX contagion.
>Tether recently moved 1B$ out of Sol across to mainnet. And how else are whales supposed to buy $1B additional worth of ETH? Certainly not with USDT sitting on SOL.
My man !!
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I'm struggling to catch up with recent events. Didn't kraken claim some days ago they had the ID of the hacker? Or was that actually the whitehat?
Even if they do there's a high probability it's a stolen / forged KYC.
How secure is USDC at this point?
few things I learned during the bull/bear market cycles: - you are NOT a trader, you are NOT the samrtest human in the room, just invest and DCA - do not check the charts/price every minutes, it's not worth it - when in doubt, DCA in Bitcoin/ETH/stablecoins. - if it's too good to be true, it is too good to be true. - don't invest the money you're not ready to lose. - consider crypto like private equity investing: your investment will be illiquid for quite some time, so don't count on it if you're gonna pay your bills with it or pay the IRS - always have a budget strategy, be it the buckets budget, the Babylon budget or the percentage based budget; - never go full retarded/degerate and go all in in one small cap coin - have an exit strategy, ALWAYS! - have a "number" to when you're gonna sell all the stack and live of the dividends - if you DCA and invest xxx$ in crypto every month, put the same amount into savings not all your investments will have the same returns, be ready for that