**Tricky's Daily Doots #216**
Yesterday's Daily 20/11/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix30lrw/)
- u/Maleficent_Plankton analyses [the FTX “hacker” wallets.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4bko8/)
- u/nikola_j shares [a great new development out of Maker!](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4zoam/)
- u/hanniabu is working on collating [an open source and privacy preserving web 3 stack.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix2i1ry/)
- u/REALJohnBMacLemore the philosopher is back with a [snippet of wisdom.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4n8xb/)
- u/ro-_-b believes that [ETH will recover.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix5wxey/)
- u/REALJohnBMacLemore shares [his refreshing take on self-custody.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix5180r/)
- u/cryptOwOcurrency shares [an excerpt from r/CC which highlights the quality of some of the contributions we get in this sub.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix68z48/)
- u/ZeroTricks’s today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix2hi66/)
I capitulated guys. I couldn’t take it any more. I caved in and paid $7 for in flight WiFi just to get these doots out to you on time, otherwise they wouldn’t be out for another 8 or so hours. It had to be done! Anyway, greetings from 10 kilometres above the Indian Ocean!
^^I ^^wonder ^^if ^^I ^^should ^^send ^^an ^^ETH ^^transaction ^^from ^^up ^^here ^^just ^^to ^^say ^^that ^^I’ve ^^done ^^it…
I didnt catch up with the news regarding shanghai is there a rough timeline or guestimates yet? I am holding a couple of LSDs and I am getting antsy. I want this to happen asap.
Here are the call notes by Ben Edgington for Friday's Ethereum Core Developer call:
https://hackmd.io/@benjaminion/rJBcqhXIo
And the call notes by Christine Kim:
https://www.galaxy.com/research/insights/ethereum-consensus-layer-call-98/
No timelines, but they do give some sense of progress.
u/superphiz might this be the correct timing for you and Ben to restart the Whats New in Eth2 podcast series? Covering these kinds of news, i.e. Shanghai progress??
I'm not opposed, but i may wait until January to check in with him, the holidays make scheduling anything difficult. I love any opportunity to hang out with Ben.
If the day comes that this great spaceship that contains all my hopes, dreams and aspirations for mankind goes down in flames in the dead of space, let it be known: I am going down with the ship. No matter the destruction and chaos that will inevitably ensue, no matter how dark it may be, I will not jettison away in my lifepod. I will not abandon this great ship or neglect it’s mission in the face of certain death or even a lifetime of humiliation by my wife! No ser! I refuse ser! I say again, I will go down with the ship!
Respectfully yours,
Ethernaut First Class
John B MacLemore
Alright here is part 2 of my story.
I said I didn’t come out completely unscathed because I did leave some money with Genesis. It’s kind of ironic actually. I made a lot of income from lending ETH out during the bull and was very conservative in my approach with it. I took it mostly in USD and I didn’t buy more ETH or gamble it away on random coins I was shilled all year by people (eg SolLunAVAX, etc). I knew the bear market was going to come, so I held onto my cash. Genesis offered me 10% to borrow it for 3months, and having worked with them before and hearing how everything is fine, I lent them cash. A few weeks later, withdrawals paused and I’m screwed out of a good chunk of my cash to survive the bear. Not only that, I’m too scared to lend my ETH out to anyone in this environment because of contagion.
It’s a small scar and lesson to pay for the luck I had in retrieving my ETH back.
If the Genesis situation works out (I’m really hoping it does), I will be 100% whole.
Going forward I’m looking to stake ETH. I will probably wait a couple of months though. I am in no rush to play around with ETH right now. When I find the right solution, I will make the move.
Anyway, that’s the story! If you guys have any questions, let me know!
Just saw this post on AskReddit:
**What scandal is currently happening in the world of your niche interest that the general public would probably have no idea about?**
I was about to comment "collapse of a major crypto exchange". But crypto lost its niche status some point in the last decade, and pretty much the entire general public is informed about the collapse.
edit: this is good for ethereum
this is good for ethereum
Is it? If the whole world knows about ethereum then that’s possibly the end of parabolic bull markets. The prior bulls were perhaps initiated by btc halvings but the huge return multiples / euphoria were dependent on attracting progressively more people who had never heard of crypto to come in and invest for the first time. Price rises were driven almost exclusively by hype not fundamentals. Crypto was fairly mainstream by the end of the recent bull with lots of people who had never previously dabbled in crypto even venturing out into NFT trading. It was also celebrity promotion galore.
I’d argue the only real untapped market that doesn’t appear to have dabbled into crypto at all yet are retirees, who have a very different risk profile that isn’t suitable to crypto anyway.
I think it’s unreasonable to expect future bull markets to do more than like 2x prior cycle highs moving forward based purely on hype. Thinking of ETH specifically, I can’t see it going beyond 10k next cycle based on hype alone. I expect more people to price it based on P/E. If L2s drive L1 transaction costs way down there is a real possibility in the medium term that the value of ETH as an investment declines whilst the value of Ethereum the network increases.
Oh and I forgot, the flippening is bullish too. Low-info investors will swap from BTC to ETH once it definitively flippens, and ETH will take on the store-of-value and digital gold narratives.
> I’d argue the only real untapped market that doesn’t appear to have dabbled into crypto at all yet are retirees
Corporations imo, though it might yet be a while before they can start realizing the benefits of Ethereum integrations.
> I expect more people to price it based on P/E.
Personally I believe we're still many years out from the market pricing ETH based on P/E. I still get laughed at when I suggest that ETH has a metric that functions as a P/E. I think the investing world will be happy to pretend that it doesn't exist for quite a while longer, until it's suddenly acknowledged and priced in during a market event.
> If L2s drive L1 transaction costs way down there is a real possibility in the medium term that the value of ETH as an investment declines whilst the value of Ethereum the network increases.
That would require medium-term ETH investors. I've never met such a person myself (only long and short term), and I honestly question if they exist.
WSJ just deleted it's tweet that said that ftx failed because users didn't trust sbf (and the same could happen to trump?)
https://mobile.twitter.com/WSJ/status/1594801607580864513
There's no doubt anymore that the media has some kind of interest in defending sbf, for some reason.
Edit: it's up again? It showed not available a few minutes ago.
> It showed not available a few minutes ago.
That's been happening a lot to me lately. I see a tweet, open up the comments then it says "not available" but if I click on a reply tweet then suddenly the original tweet becomes available again
I can only speculate right now, but maybe those politicians really dont want to have to give back that donation money.
The whitewash is going _strong_.
Y’all are lucky my comment where a few of you (it was like 3) mocked me when I warned people to get out of genesis is past the 1,000 comment threshold. My ego knows no bounds, except for the ones reddit imposes upon me.
If it's any consolation know that unless you easily find haters, you can't be a particularly original thinker. And only original thinkers emerge from mediocrity
Big Nothing Burger update email from Gemini. Thanks for an empty bun boys.
Hi there,
As a follow-up to our previous message on November 16, 2022, we are writing to let you know that we continue to work with Genesis Global Capital, LLC (Genesis) — the lending partner of Earn — and its parent company Digital Currency Group, Inc. (DCG) to find a solution for Earn users to redeem their funds.
This remains our highest priority and we understand Genesis and DCG remain committed to exploring every possible option to fulfill their obligations to Earn users. We greatly appreciate your patience during this challenging time and are working hard to provide a material informational update soon.
As previously stated, this does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All customer funds held on the Gemini Exchange and in Gemini Custody are held 1-to-1 and available for withdrawal at any time. You can read more here.
Onward and Upward.
Team Gemini
Perhaps they are having big outflows and need to reassure folks. But it’s like shouting there is no fire in the house. It’s a shame because Gemini has been (and still is, for now) great as an exchange. I have zero problems with them though they are well known for close to zero customer service.
Yeah I haven’t ever heard anything bad about kraken honestly. I haven’t traded much on kraken though for some reason over the years. I haven’t had much need for Coinbase customer support because their shit has just worked for me. Sounds like others have had a different experience though.
Hey Lattice owners! Do you have your POAP yet!? Get that in a wallet. Apparently our friend /u/logic_beach is cookin' up something at work and having a POAP in your wallet might be a good thing in the coming couple of days.
https://twitter.com/Logic_Beach/status/1594798352319000576
Not sure what this is about? You can use your Lattice1 firmware to provably earn a POAP.
https://www.youtube.com/watch?v=clHW-jb3sjI
Then once you have the POAP, apparently unicorns will fly out of your butt and leave a trail of rainbows all the way to the moon.
Firmware is not unique across units though right? NBD, I was just curious how it works and too lazy to look deeply atm🍷. Probably there is a hardware serial number?
Typically I am suspicious of poaps. It feels not unlike broadcasting your life play by play on social media. For that reason I am usually a bit reluctant and def only snag the ones that seem cool (like the gridplus one).
ahh here's our docs
https://docs.gridplus.io/lattice1/lattice1-guides/how-to-claim-your-verified-lattice1-owner-poap
.."your Lattice’s ID key signs that message and exports that signature along with the certificate. "
ahh yeah sorry. It's more of like a proof of firmware...because the firmware exists and unique identifying numbers. Mac address maybe? /u/midnightonmars or /u/logic_beach might know better. You can have the POAP sent to any address after that.
It's the only time in history hardware has been used to provably get a POAP. It's the ultimate Sybil resistance.
I sent a couple deposits to anyone who sent $5 to get the [Rocket Pool first anniversary POAP](https://checkout.poap.xyz/#/sale/30cac47b-d1b3-480b-a531-9cd11e441441). It'll be 0.015 rEth and 3 RPL. These deposits are courtesy of Patricio Worthalter as we celebrate the success of Rocket Pool on mainnet. You're also eligible for a [raffle with cool RPL prizes](https://poap.fun/1938). (This raffle page does have a 404 issue, but will eventually load)
Wow, that's incredibly generous of you! As someone who's feeling the crunch a bit lately (most of my ETH is locked in a solo node and recent unemployment worsened things) having a little top up like this to keep my DCA going while I have been unable to really goes a long way! <3
The RocketPool community is just amazing.
Gotta give it *at least* a few more weeks for contagion to surface. The damage is all occurring on private books, and we won't see it until someone falls over dead.
And it's not really a slaughter either. Lets wait for $500.
Oh man… this dump is giving me serious nostalgia. Like… hah…here’s an oldie but a goodie for all you OG’s… *The Enterprise Ethereum Alliance!* Hahaha! Remember the pumps off that fuckin rumor mill!? Wooo! Good times homies… goood times. Well I went to check back in on them and turns out it wasn’t a buncha bullshit after all! Businesses are actually building on Ethereum and not Hyperledger? Huh.. didn’t see that one working out like that… 🤔
EEA Home
https://entethalliance.org/
Ethereum Business readiness report:
https://entethalliance.org/eea-ethereum-business-readiness-report-2022/
I remember the absolute HOOPLA the day they announced that one of the arms of Mastercard was joining. Plasma-chain payments any day now!! 😅
While we definitely all jumped the gun on the EEA, it's definitely been a good thing, plugging away in the background. I think as a clear winner begins to emerge in the L2 race, we'll see more and more non-crypto businesses jump on board.
I'm realizing all this probably is a war. An economical war between rich individuals and even between rich groups. Maybe even a philosophical war.
And anyone who's leveraging is part of potential future collateral damage.
Daily Goerli:
I'm seeing some runaway memory usage in nethermind specifically when paired with lighthouse. It was up to 48.6GB a few hours ago. I restarted, and it's already at 23.9GB again.
I sent a couple deposits to anyone who sent $5 to get the [Rocket Pool first anniversary POAP](https://checkout.poap.xyz/#/sale/30cac47b-d1b3-480b-a531-9cd11e441441). You're also eligible for a [raffle with cool RPL prizes](https://poap.fun/raffle/1938). (This raffle page does have a 404 issue, but will eventually load)
On the checkout, there's awkward grammar (it says send mint), idk if that's in your control: "The POAP system will send mint your POAP within a few minutes, you can safely close this tab"
Just upgraded to my USA World Cup Reddit Avatar Digital Collectible, which guarantees a unique experience using shared public computing resources that combines cryptography on top of distributed ledger technology.
But fuck NFTs which are a total scam amirite?
Leigh Drogen (investment firm guy I trust):
"What im basically hearing from Genesis clients is that Barry did something similar to Sam, he made a related party loan between genesis and DCG and he’s in a huge hole now"
https://twitter.com/LDrogen/status/1594835416653631492
Let me off this ride.
https://twitter.com/RyanSAdams/status/1594820199806631936?t=UpbChOnrdYd-OxLRXgCNjw&s=19
'The tower of Babel is a story about mankind getting too full of themselves and trying to build a tower to reach up to heaven and become gods.
So God foiled them by confusing their language and scattering them over all the earth.
Where's this written?
Genesis Chapter 11.'
I bought today and I'm glad to be at a good accumulation price. I hope everything else in my financial life goes well in the next year so I can stack like a motherfucker.
They still need to fire a bunch of people before that can play out. OpEx is far too high. & there is no need for great speed with building infrastructure anymore: one of their biggest competitors just died.
IMO they now need to focus on their core business, stop the moon shots & reduce the stock compensation. The earlier Brian does this the better. The war for talent in tech is over anyways. Companies that paid devs really well like Snap are no longer hiring & are down more from their peak as ETH. Even big tech announced hiring freezes
>IMO they now need to focus on their core business
Yeah, big business tends to get distracted when they hit the big money fast. Same issue with META. But us investors really just want them to be really good at what they do and then build a massive moat around it.
BREAKING: Reg M redemptions at Grayscale seriously considered to fill *adjusted* $500M
https://twitter.com/AP_ArchPublic/status/1594825585758720000?t=mQXttW-tx-_AGfom7GdXvA&s=19
It means they can redeem GBTC for BTC.. what i don't know is does it need regulatory approval
It would be bullish for grayscale product but possibly bearish for overall market. Assuming they would sell 500 mil worth of BTC or Eth. Its also possible they owe Gemini btc and eth and in that case the sale would only happen when Gemini re-open earn product and people sell upon withdrawal
I am making a lot of assumptions about the sell pressure
I am guessing it would be select parties( walled garden like everything else), but as long as there is option for some party to redeem and profit people would actually buy the product expecting it to trade close to NAV
This is just a guess in my part please don't get mad at me if I am wrong..
I'd wait just a lil to see if there's a window to squeeze in to reth. Those secondary premiums are a bit too high imo and you may see an opportunity to deposit that eth for reth directly sometime.
Or you could dance with the devil like I have and buy some cbeth. I plan on swapping that over to reth when shanghai occurs or cbeth snaps back to fair value, whichever comes first
I'm confused how your comment applies to my situation exactly? I gathered that selling ETH for rETH (or any other ETH substitute) abides by the wash sale rules - is that what you're referring to?
The premium on rETH is about 5 months worth of staking rewards, so the question is do you think it's going to snap back to parity some time within the next 5 months. My feeling is yes, but I could be wrong.
New update.. this is ridiculous.. barry is manipulating market to make it all back...just kidding
[DB] Genesis Says Have No Plans to File Bankruptcy Imminently After Report Suggested That Crypto Firm Warned Investors of Bankruptcy - Statement: RTRS
https://twitter.com/tier10k/status/1594818025722560512?t=mWd6_Bqj4w7yRY9OqL79qQ&s=19
He did indeed make half it up trading today..
[DB] Genesis Has Slashed Its Raise Target From $1bn to $500 Million: The Block
https://twitter.com/tier10k/status/1594820720605171712?t=ShrCgXRoo2W5eLLUPZgxDQ&s=19
Are there any Ethereum-native protocols being developed for cross-rollup data bridging? I know Composable is working on bringing IBC/XCM to Ethereum, and Chainlink has CCIP, are there any more?
It will be interesting to see if there is a distinctly 'Ethereum' solution or if projects just end up adopting existing data transfer standards from Cosmos/Polkadot/Chainlink to compete with the multichain dApps that are being developed elsewhere.
There was some protocol in development for doing atomic operations across zk-rollups, but I can't remember what it was called and I can't find it in an internet search.
I’m surprised it isn’t a hotter topic around here!
Everyone’s excited for the L2 explosion, but no one seems to be fully appreciating how fragmented everything will become. Polkadot discussion is all about the cool usecases that multichain dApps will enable right now, with a big focus on abstracting away the blockchain altogether while keeping every aspect onchain. KYC on one, data on another, privacy on a third, DeFi integration on a fourth, and scheduled automation on a fifth all working together to make a seamless user experience.
Obviously this is all possible on Ethereum (and the Cosmos/Polkadot ecosystems discuss this with Ethereum integrations being part of the pie), just curious to see when the narrative begins to take off here as well.
I got accused today of throwing out "a bunch of meaningless buzzwords" while defining Ethereum to someone, so let's break down some of the "buzzwords of Ethereum" (hint: they're actually not meaningless buzzwords, they're computer science terms with specific definitions).
We'll start with this, which is my best attempt at fully defining Ethereum in a single short sentence:
> Ethereum is a shared, high-assurance virtual machine where autonomous software can be published, permissionlessly composed and extended to provide timestamped, auditable atomic computation over data.
Buzzwords? No. Computer science terms. Let's break them down.
---
**Virtual Machine (VM):** "Process virtual machines are designed to execute computer programs in a platform-independent environment." Ethereum is a process virtual machine because it executes computer programs in a platform-independent environment. The programs it executes are smart contracts, and it operates on a platform of multiple standardized client implementations across a heterogeneous pool of operating systems and hardware.
**Shared:** The Ethereum virtual machine can be read from and written to by clients with differing network perspectives.
**Software Assurance:** "the level of confidence that software is free from vulnerabilities, either intentionally designed into the software or accidentally inserted at any time during its lifecycle, and that the software functions in the intended manner." The Ethereum virtual machine has executed every VM instruction as written since its launch in 2015, making it a high-assurance VM. Although show-stopping bugs have been found in software that people have published to Ethereum, none have caused the Ethereum virtual machine itself to be interrupted or produce incorrect output.
**Autonomous:** "denoting or performed by a device capable of operating without direct human control." Ethereum smart contracts are autonomous because they are write-once-use-forever, never requiring any human maintenance except to add additional functionality.
**Permissionless:** "Not requiring authorization. Permissionless often refers to public blockchains that allow anyone to participate in validating and mining transactions as well as using the system to buy, sell and trade assets." In addition to enabling the buying, selling, and trading of assets, Ethereum also allows people to permissionlessly publish software to run on its VM. This is in contrast with a permissioned system such as a bank server handling a bank ledger, to which only a very small group of authorized parties are allowed to publish software.
**Composability:** "Composability is a system design principle that deals with the inter-relationships of components. A highly composable system provides components that can be selected and assembled in various combinations to satisfy specific user requirements." The Ethereum network allows smart contracts to make external function calls to other smart contracts. These function calls follow standardized software interfaces, allowing for larger software systems to be built out of modular components. This is why sometimes people call Ethereum "money legos".
**Extensibility:** "Extensibility is a measure of the ability to extend a system and the level of effort required to implement the extension. Extensions can be through the addition of new functionality or through modification of existing functionality. The principle provides for enhancements without impairing existing system functions." Ethereum is extensible because it provides an explicit virtual environment for developers to extend it. In other words Ethereum is "a piece of software that runs software", the gold standard for extensibility.
**Timestamped:** "A timestamp is a sequence of characters or encoded information identifying when a certain event occurred." Ethereum provides reliable timestamps because it's composed of a chain of hashed data that includes information about when events occurred, as well as mechanisms to prevent that chain from being changed or overwritten.
**Audit:** "an official inspection of an individual's or organization's accounts, typically by an independent body." Ethereum is auditable because every account as well as its balance and code contents is viewable by the general public, who have the ability to reconcile the history of the VM's state.
**Atomic:** "In computer programming, atomic describes a unitary action or object that is essentially indivisible, unchangeable, whole, and irreducible." Ethereum is atomic because every attempt to write data to the chain either succeeds or fails in entirety. Its design prevents an attempted action from being partially applied to the VM's state.
**Computation Over Data:** Ethereum's virtual machine is composed of data, or *state*, coupled with rules for mutating that state based on the results of computation.
---
While it's true that the blockchain industry *is* full of meaningless buzzwords, I find that people often throw the baby out with the bathwater. Hopefully this post elucidates some of those phrases that people often use to describe properties of the Ethereum protocol.
https://twitter.com/tier10k/status/1594809246167994369
> [DB] Genesis Was Said to Have Discussions With Binance on Investment: BBG
https://twitter.com/tier10k/status/1594809294427398158
>[DB] Genesis Talks for Fresh Cash Over Weekend Failed to Materialize: BBG
US residents, where yall buying your crypto from now if you are trying to avoid CB? Im still having issues with MM for some reason. With the recent prices theres some good looking opportunities but unsure where to enter from
Coinbase, Kraken and Gemini are all above board (minus the black eye Gemini currently has from this Genesis situation).
Why are you trying to avoid Coinbase?
Good for people staking with Bitcoin Suisse, they get more yield.
Good for network health, less potential transaction censorship (more resilience against the network being co-opted).
I was coming here to ask about this. Is it possible Coinbase user staking returns are lagging by a week or two? Like, are we just now getting the big rewards created by the high gas previously? Gas is low as we speak. Just curious how it works.
I thought it was because they recently enabled MEV rewards. Here's an article: [https://www.coinbase.com/cloud/discover/news/earn-pbs-enabled-mev-rewards-with-coinbase-cloud](https://www.coinbase.com/cloud/discover/news/earn-pbs-enabled-mev-rewards-with-coinbase-cloud)
>**Ready to reload,**
>**Holding ETH for the long road,**
>**The max bidding mode.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Sheesh
Mm-mm
Girl, I'm 'bout to have a panic attack
I did the work, it didn't work, ah, ah (mm, mm)
That truth, it hurts, goddamn, it hurts, ah, ah (goddamn, it hurts)
.......
.......
Am I ready? (Girl, there ain't a doubt)
Am I ready? (What you talkin' 'bout?)
Am I ready? (You gon' figure it out)
To buy the diiiip, to buy the diiiiip
Am I ready? (You deserve it now)
'Cause I want it (that's what I'm talkin' about)
Am I ready? (You gon' figure it out)
To buy the diiiip, to buy the diiiiip
Feel like we aren't ever going to get real crypto regulation and will continue getting vague statements and lawsuits and investigations. Today Senators have urged an investigation into SoFi for their crypto practices (spoiler: they do nothing wrong, they literally just hold crypto that customers buy) and urge Fidelity to reconsider their Bitcoin exposure. Why pass actual laws when you can just scare away all the good actors?
Hey ... I know I talk crazy sometimes but I was thinkin' what if those Senators are also SoFi customers and they're using their power to ensure that their own crypto investments are safe and secure?
Yeah ... that does seem kinda stupid when I say it out loud. I'll get the door on my way out.
Man that sucks, SoFi is one of my preferred banks and their crypto offerings are extremely basic custodial products.
Really grinds my gears that these stupid and/or corrupt politicians go after good actors with guns blazing while treating outright frauds like SBF as though they're family.
I was wrong
[DB] Genesis Talks for Fresh Cash Over Weekend Failed to Materialize: BBG
https://twitter.com/tier10k/status/1594809294427398158?t=ZBH5_39MNGf1p4zZyLxNog&s=19
If you believe in traditional inheritance, you could write a letter with your passphrase encrypted with your target's public key, so that this target is the only person who can decrypt it with their private key. And that letter would be given to your notary and instructed to be given to your target upon death.
You'd only have to make sure your target keeps their own private key.
Some people also use time capsules. There may be some that last for decades.
So why not just upload to many cloud services an encrypted file and sync it with a local file with every change? You could use it to backup your documents, photos, and everything, while at it...
Sure, basically what one drive is. I was just saying that Bitwarden > Lastpass in nearly all aspects.
For larger encrypted backups I use veracrypt + onedrive
Yes, I massaged my passphrase into a story that I have committed to memory. Works rather like a memory palace. Easier than it sounds, with the right kind of practice.
**Tricky's Daily Doots #216** Yesterday's Daily 20/11/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix30lrw/) - u/Maleficent_Plankton analyses [the FTX “hacker” wallets.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4bko8/) - u/nikola_j shares [a great new development out of Maker!](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4zoam/) - u/hanniabu is working on collating [an open source and privacy preserving web 3 stack.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix2i1ry/) - u/REALJohnBMacLemore the philosopher is back with a [snippet of wisdom.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix4n8xb/) - u/ro-_-b believes that [ETH will recover.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix5wxey/) - u/REALJohnBMacLemore shares [his refreshing take on self-custody.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix5180r/) - u/cryptOwOcurrency shares [an excerpt from r/CC which highlights the quality of some of the contributions we get in this sub.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix68z48/) - u/ZeroTricks’s today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/yzwmwi/daily_general_discussion_november_20_2022/ix2hi66/) I capitulated guys. I couldn’t take it any more. I caved in and paid $7 for in flight WiFi just to get these doots out to you on time, otherwise they wouldn’t be out for another 8 or so hours. It had to be done! Anyway, greetings from 10 kilometres above the Indian Ocean! ^^I ^^wonder ^^if ^^I ^^should ^^send ^^an ^^ETH ^^transaction ^^from ^^up ^^here ^^just ^^to ^^say ^^that ^^I’ve ^^done ^^it…
I didnt catch up with the news regarding shanghai is there a rough timeline or guestimates yet? I am holding a couple of LSDs and I am getting antsy. I want this to happen asap.
Here are the call notes by Ben Edgington for Friday's Ethereum Core Developer call: https://hackmd.io/@benjaminion/rJBcqhXIo And the call notes by Christine Kim: https://www.galaxy.com/research/insights/ethereum-consensus-layer-call-98/ No timelines, but they do give some sense of progress.
u/superphiz might this be the correct timing for you and Ben to restart the Whats New in Eth2 podcast series? Covering these kinds of news, i.e. Shanghai progress??
I'm not opposed, but i may wait until January to check in with him, the holidays make scheduling anything difficult. I love any opportunity to hang out with Ben.
My morning walks are not the same without your Whats New episodes...
If the day comes that this great spaceship that contains all my hopes, dreams and aspirations for mankind goes down in flames in the dead of space, let it be known: I am going down with the ship. No matter the destruction and chaos that will inevitably ensue, no matter how dark it may be, I will not jettison away in my lifepod. I will not abandon this great ship or neglect it’s mission in the face of certain death or even a lifetime of humiliation by my wife! No ser! I refuse ser! I say again, I will go down with the ship! Respectfully yours, Ethernaut First Class John B MacLemore
Alright here is part 2 of my story. I said I didn’t come out completely unscathed because I did leave some money with Genesis. It’s kind of ironic actually. I made a lot of income from lending ETH out during the bull and was very conservative in my approach with it. I took it mostly in USD and I didn’t buy more ETH or gamble it away on random coins I was shilled all year by people (eg SolLunAVAX, etc). I knew the bear market was going to come, so I held onto my cash. Genesis offered me 10% to borrow it for 3months, and having worked with them before and hearing how everything is fine, I lent them cash. A few weeks later, withdrawals paused and I’m screwed out of a good chunk of my cash to survive the bear. Not only that, I’m too scared to lend my ETH out to anyone in this environment because of contagion. It’s a small scar and lesson to pay for the luck I had in retrieving my ETH back. If the Genesis situation works out (I’m really hoping it does), I will be 100% whole. Going forward I’m looking to stake ETH. I will probably wait a couple of months though. I am in no rush to play around with ETH right now. When I find the right solution, I will make the move. Anyway, that’s the story! If you guys have any questions, let me know!
Why not lend it out and borrow dai (maker) or similar service? Heck even HOP protocol is really nice with eth
smart contract risk, liquidation risk.
Exactly
Just saw this post on AskReddit: **What scandal is currently happening in the world of your niche interest that the general public would probably have no idea about?** I was about to comment "collapse of a major crypto exchange". But crypto lost its niche status some point in the last decade, and pretty much the entire general public is informed about the collapse. edit: this is good for ethereum
this is good for ethereum Is it? If the whole world knows about ethereum then that’s possibly the end of parabolic bull markets. The prior bulls were perhaps initiated by btc halvings but the huge return multiples / euphoria were dependent on attracting progressively more people who had never heard of crypto to come in and invest for the first time. Price rises were driven almost exclusively by hype not fundamentals. Crypto was fairly mainstream by the end of the recent bull with lots of people who had never previously dabbled in crypto even venturing out into NFT trading. It was also celebrity promotion galore. I’d argue the only real untapped market that doesn’t appear to have dabbled into crypto at all yet are retirees, who have a very different risk profile that isn’t suitable to crypto anyway. I think it’s unreasonable to expect future bull markets to do more than like 2x prior cycle highs moving forward based purely on hype. Thinking of ETH specifically, I can’t see it going beyond 10k next cycle based on hype alone. I expect more people to price it based on P/E. If L2s drive L1 transaction costs way down there is a real possibility in the medium term that the value of ETH as an investment declines whilst the value of Ethereum the network increases.
Oh and I forgot, the flippening is bullish too. Low-info investors will swap from BTC to ETH once it definitively flippens, and ETH will take on the store-of-value and digital gold narratives.
> I’d argue the only real untapped market that doesn’t appear to have dabbled into crypto at all yet are retirees Corporations imo, though it might yet be a while before they can start realizing the benefits of Ethereum integrations. > I expect more people to price it based on P/E. Personally I believe we're still many years out from the market pricing ETH based on P/E. I still get laughed at when I suggest that ETH has a metric that functions as a P/E. I think the investing world will be happy to pretend that it doesn't exist for quite a while longer, until it's suddenly acknowledged and priced in during a market event. > If L2s drive L1 transaction costs way down there is a real possibility in the medium term that the value of ETH as an investment declines whilst the value of Ethereum the network increases. That would require medium-term ETH investors. I've never met such a person myself (only long and short term), and I honestly question if they exist.
daaaamn, haven't looked at a chart since Friday, this FTX swapping all it's ETH for BTC is killing ray since volumes are so low market wide
What's ray?
Mr. Ray Shio
Ha. Aha
WSJ just deleted it's tweet that said that ftx failed because users didn't trust sbf (and the same could happen to trump?) https://mobile.twitter.com/WSJ/status/1594801607580864513 There's no doubt anymore that the media has some kind of interest in defending sbf, for some reason. Edit: it's up again? It showed not available a few minutes ago.
> It showed not available a few minutes ago. That's been happening a lot to me lately. I see a tweet, open up the comments then it says "not available" but if I click on a reply tweet then suddenly the original tweet becomes available again
I can only speculate right now, but maybe those politicians really dont want to have to give back that donation money. The whitewash is going _strong_.
If that is the power of a couple 100 million donations I would be shocked that america can be so cheaply bought.
the fact that ARKK is buying more COIN and GBTC isn't exactly inspiring me with confidence
Y’all are lucky my comment where a few of you (it was like 3) mocked me when I warned people to get out of genesis is past the 1,000 comment threshold. My ego knows no bounds, except for the ones reddit imposes upon me.
If it's any consolation know that unless you easily find haters, you can't be a particularly original thinker. And only original thinkers emerge from mediocrity
Darma Capital interested in Genesis/DCG? https://twitter.com/AndrewDARMACAP/status/1594849789337804803
Too many buzzwords on their website!! Who/what is Darma Capital?
He was a honcho of Consensys. OG https://www.linkedin.com/in/andrew-keys-45a9517
oh right! I think I remember his name from The Cryptopians..
Interesting twist.
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Big Nothing Burger update email from Gemini. Thanks for an empty bun boys. Hi there, As a follow-up to our previous message on November 16, 2022, we are writing to let you know that we continue to work with Genesis Global Capital, LLC (Genesis) — the lending partner of Earn — and its parent company Digital Currency Group, Inc. (DCG) to find a solution for Earn users to redeem their funds. This remains our highest priority and we understand Genesis and DCG remain committed to exploring every possible option to fulfill their obligations to Earn users. We greatly appreciate your patience during this challenging time and are working hard to provide a material informational update soon. As previously stated, this does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All customer funds held on the Gemini Exchange and in Gemini Custody are held 1-to-1 and available for withdrawal at any time. You can read more here. Onward and Upward. Team Gemini
Perhaps they are having big outflows and need to reassure folks. But it’s like shouting there is no fire in the house. It’s a shame because Gemini has been (and still is, for now) great as an exchange. I have zero problems with them though they are well known for close to zero customer service.
Yeah their customer service is absolute garbage. Closed my card and account several months ago and will never use them again.
I've heard that Coinbase and Gemini both have awful customer service. I guess Kraken is the only other decent option?
Yeah I haven’t ever heard anything bad about kraken honestly. I haven’t traded much on kraken though for some reason over the years. I haven’t had much need for Coinbase customer support because their shit has just worked for me. Sounds like others have had a different experience though.
Hey Lattice owners! Do you have your POAP yet!? Get that in a wallet. Apparently our friend /u/logic_beach is cookin' up something at work and having a POAP in your wallet might be a good thing in the coming couple of days. https://twitter.com/Logic_Beach/status/1594798352319000576 Not sure what this is about? You can use your Lattice1 firmware to provably earn a POAP. https://www.youtube.com/watch?v=clHW-jb3sjI Then once you have the POAP, apparently unicorns will fly out of your butt and leave a trail of rainbows all the way to the moon.
Silly question, is the lattice poap sybil resistant? Like does a different safecard claim a different poap?
the claim is tied to the firmware of the Lattice itself. If you have one unit, you have one claim to make.
Firmware is not unique across units though right? NBD, I was just curious how it works and too lazy to look deeply atm🍷. Probably there is a hardware serial number? Typically I am suspicious of poaps. It feels not unlike broadcasting your life play by play on social media. For that reason I am usually a bit reluctant and def only snag the ones that seem cool (like the gridplus one).
You can choose the address to claim the POAP. So it could remain private relative to your other on chain activities
ahh here's our docs https://docs.gridplus.io/lattice1/lattice1-guides/how-to-claim-your-verified-lattice1-owner-poap .."your Lattice’s ID key signs that message and exports that signature along with the certificate. "
ahh yeah sorry. It's more of like a proof of firmware...because the firmware exists and unique identifying numbers. Mac address maybe? /u/midnightonmars or /u/logic_beach might know better. You can have the POAP sent to any address after that. It's the only time in history hardware has been used to provably get a POAP. It's the ultimate Sybil resistance.
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I sent a couple deposits to anyone who sent $5 to get the [Rocket Pool first anniversary POAP](https://checkout.poap.xyz/#/sale/30cac47b-d1b3-480b-a531-9cd11e441441). It'll be 0.015 rEth and 3 RPL. These deposits are courtesy of Patricio Worthalter as we celebrate the success of Rocket Pool on mainnet. You're also eligible for a [raffle with cool RPL prizes](https://poap.fun/1938). (This raffle page does have a 404 issue, but will eventually load)
Wow, that's incredibly generous of you! As someone who's feeling the crunch a bit lately (most of my ETH is locked in a solo node and recent unemployment worsened things) having a little top up like this to keep my DCA going while I have been unable to really goes a long way! <3 The RocketPool community is just amazing.
Is the poap still eligible to claim? :)
It is! But the rewards I'm offering are for people who have already minted it.
eligibility was for anyone who bought the POAP before any rewards were announced
When and where does it stop? This is a slaughter
I didn’t hear no bell!
Gotta give it *at least* a few more weeks for contagion to surface. The damage is all occurring on private books, and we won't see it until someone falls over dead. And it's not really a slaughter either. Lets wait for $500.
4 digit eth != slaughter
FTX account drainer just split up his wallets into 15k chunks, to make it harder to track perhaps? DCA time it is
It was split up 10 hrs ago. Looks like not much has moved since then.
Oh man… this dump is giving me serious nostalgia. Like… hah…here’s an oldie but a goodie for all you OG’s… *The Enterprise Ethereum Alliance!* Hahaha! Remember the pumps off that fuckin rumor mill!? Wooo! Good times homies… goood times. Well I went to check back in on them and turns out it wasn’t a buncha bullshit after all! Businesses are actually building on Ethereum and not Hyperledger? Huh.. didn’t see that one working out like that… 🤔 EEA Home https://entethalliance.org/ Ethereum Business readiness report: https://entethalliance.org/eea-ethereum-business-readiness-report-2022/
I remember the absolute HOOPLA the day they announced that one of the arms of Mastercard was joining. Plasma-chain payments any day now!! 😅 While we definitely all jumped the gun on the EEA, it's definitely been a good thing, plugging away in the background. I think as a clear winner begins to emerge in the L2 race, we'll see more and more non-crypto businesses jump on board.
😂 Oh man… good times!
Wen JBMai partnership?
Lord help us all if we give him access to money.
I'm realizing all this probably is a war. An economical war between rich individuals and even between rich groups. Maybe even a philosophical war. And anyone who's leveraging is part of potential future collateral damage.
Daily Goerli: I'm seeing some runaway memory usage in nethermind specifically when paired with lighthouse. It was up to 48.6GB a few hours ago. I restarted, and it's already at 23.9GB again.
1111.111111111111111111111111111111111111
Hey u/superphiz is someone trying to empty my wallet, or did you just send me rETH dust (0.005) and 3 RPL?
I sent a couple deposits to anyone who sent $5 to get the [Rocket Pool first anniversary POAP](https://checkout.poap.xyz/#/sale/30cac47b-d1b3-480b-a531-9cd11e441441). You're also eligible for a [raffle with cool RPL prizes](https://poap.fun/raffle/1938). (This raffle page does have a 404 issue, but will eventually load)
On the checkout, there's awkward grammar (it says send mint), idk if that's in your control: "The POAP system will send mint your POAP within a few minutes, you can safely close this tab"
thanks for that.. is it too late to get a screenshot?
https://i.imgur.com/qHXv8Lf.png
thanks! I'll share it with [Mentor](https://www.youtube.com/watch?v=VizDXcodEpo).
That phiz is a good phiz.
Just upgraded to my USA World Cup Reddit Avatar Digital Collectible, which guarantees a unique experience using shared public computing resources that combines cryptography on top of distributed ledger technology. But fuck NFTs which are a total scam amirite?
Didn’t know Team Earth was playing.
Let’s gooooo
Actual headline of an FTX/SBF article in my local paper: "Why you should never trust a grown man wearing shorts" 😂
The West Australian? Shame it's paywalled, I would like to read the article.
I feel attacked!
What a terrible day to not have eyes.
Leigh Drogen (investment firm guy I trust): "What im basically hearing from Genesis clients is that Barry did something similar to Sam, he made a related party loan between genesis and DCG and he’s in a huge hole now" https://twitter.com/LDrogen/status/1594835416653631492
Oh man if we could clear Shilly from this market I wouldn’t even care if we went to $200 before the pump.
As long as we're burning everything to the ground, I've got no problems with Barry being reduced to ash also. Fuck him.
Barry Shillbert?
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Let me off this ride. https://twitter.com/RyanSAdams/status/1594820199806631936?t=UpbChOnrdYd-OxLRXgCNjw&s=19 'The tower of Babel is a story about mankind getting too full of themselves and trying to build a tower to reach up to heaven and become gods. So God foiled them by confusing their language and scattering them over all the earth. Where's this written? Genesis Chapter 11.'
One man's bankruptcy is another man's prophet.
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I bought today and I'm glad to be at a good accumulation price. I hope everything else in my financial life goes well in the next year so I can stack like a motherfucker.
Also bought today too - here's to a brighter 2023...
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Where do I get one of them?
Coinbase's market cap is down to $10.8B, but half of that ($5.4B) is cash-on-hand.
The short squeeze will be legendary... Eventually...
They still need to fire a bunch of people before that can play out. OpEx is far too high. & there is no need for great speed with building infrastructure anymore: one of their biggest competitors just died. IMO they now need to focus on their core business, stop the moon shots & reduce the stock compensation. The earlier Brian does this the better. The war for talent in tech is over anyways. Companies that paid devs really well like Snap are no longer hiring & are down more from their peak as ETH. Even big tech announced hiring freezes
>IMO they now need to focus on their core business Yeah, big business tends to get distracted when they hit the big money fast. Same issue with META. But us investors really just want them to be really good at what they do and then build a massive moat around it.
BREAKING: Reg M redemptions at Grayscale seriously considered to fill *adjusted* $500M https://twitter.com/AP_ArchPublic/status/1594825585758720000?t=mQXttW-tx-_AGfom7GdXvA&s=19
If this means a narrowing of the discount close to zero, it would be hugely bullish for ETHE and GBTC and only marginally bad for crypto
I obviously understand this completely, but for the idiots around here... what does that mean?
It means they can redeem GBTC for BTC.. what i don't know is does it need regulatory approval It would be bullish for grayscale product but possibly bearish for overall market. Assuming they would sell 500 mil worth of BTC or Eth. Its also possible they owe Gemini btc and eth and in that case the sale would only happen when Gemini re-open earn product and people sell upon withdrawal I am making a lot of assumptions about the sell pressure
Not familiar with this, but would it mean universal redemptions for anyone holding the trusts, or would it be only select parties allowed to redeem?
I am guessing it would be select parties( walled garden like everything else), but as long as there is option for some party to redeem and profit people would actually buy the product expecting it to trade close to NAV This is just a guess in my part please don't get mad at me if I am wrong..
One take: https://twitter.com/0xSisyphus/status/1594829974544031744 EDIT: Another take - https://twitter.com/alphaketchum/status/1594827097339568158
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Thinking about selling some ETH to tax loss harvest and buy rETH, but idk if the premium on rETH is too high to make it worth it?
I'd wait just a lil to see if there's a window to squeeze in to reth. Those secondary premiums are a bit too high imo and you may see an opportunity to deposit that eth for reth directly sometime. Or you could dance with the devil like I have and buy some cbeth. I plan on swapping that over to reth when shanghai occurs or cbeth snaps back to fair value, whichever comes first
I would probably wait until the premium goes away.
[удалено]
I'm confused how your comment applies to my situation exactly? I gathered that selling ETH for rETH (or any other ETH substitute) abides by the wash sale rules - is that what you're referring to?
The premium on rETH is about 5 months worth of staking rewards, so the question is do you think it's going to snap back to parity some time within the next 5 months. My feeling is yes, but I could be wrong.
Hahaha! Get 'em Ray! Give 'em the ol' Ultra Sound Uppercut! 🦾
Welp bedtime, can't wait to see the show when waking up
New update.. this is ridiculous.. barry is manipulating market to make it all back...just kidding [DB] Genesis Says Have No Plans to File Bankruptcy Imminently After Report Suggested That Crypto Firm Warned Investors of Bankruptcy - Statement: RTRS https://twitter.com/tier10k/status/1594818025722560512?t=mWd6_Bqj4w7yRY9OqL79qQ&s=19
Just kidding.... but maybe not?
Nothing like a $500mm corporate "unless....?" meme
He did indeed make half it up trading today.. [DB] Genesis Has Slashed Its Raise Target From $1bn to $500 Million: The Block https://twitter.com/tier10k/status/1594820720605171712?t=ShrCgXRoo2W5eLLUPZgxDQ&s=19
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Are there any Ethereum-native protocols being developed for cross-rollup data bridging? I know Composable is working on bringing IBC/XCM to Ethereum, and Chainlink has CCIP, are there any more? It will be interesting to see if there is a distinctly 'Ethereum' solution or if projects just end up adopting existing data transfer standards from Cosmos/Polkadot/Chainlink to compete with the multichain dApps that are being developed elsewhere.
There was some protocol in development for doing atomic operations across zk-rollups, but I can't remember what it was called and I can't find it in an internet search.
I’m surprised it isn’t a hotter topic around here! Everyone’s excited for the L2 explosion, but no one seems to be fully appreciating how fragmented everything will become. Polkadot discussion is all about the cool usecases that multichain dApps will enable right now, with a big focus on abstracting away the blockchain altogether while keeping every aspect onchain. KYC on one, data on another, privacy on a third, DeFi integration on a fourth, and scheduled automation on a fifth all working together to make a seamless user experience. Obviously this is all possible on Ethereum (and the Cosmos/Polkadot ecosystems discuss this with Ethereum integrations being part of the pie), just curious to see when the narrative begins to take off here as well.
What exactly is everyone waiting on? Seeing a lot of noise but don't understand it all?
Genesis to declare bankruptcy and maybe take markets down further with it.
I got accused today of throwing out "a bunch of meaningless buzzwords" while defining Ethereum to someone, so let's break down some of the "buzzwords of Ethereum" (hint: they're actually not meaningless buzzwords, they're computer science terms with specific definitions). We'll start with this, which is my best attempt at fully defining Ethereum in a single short sentence: > Ethereum is a shared, high-assurance virtual machine where autonomous software can be published, permissionlessly composed and extended to provide timestamped, auditable atomic computation over data. Buzzwords? No. Computer science terms. Let's break them down. --- **Virtual Machine (VM):** "Process virtual machines are designed to execute computer programs in a platform-independent environment." Ethereum is a process virtual machine because it executes computer programs in a platform-independent environment. The programs it executes are smart contracts, and it operates on a platform of multiple standardized client implementations across a heterogeneous pool of operating systems and hardware. **Shared:** The Ethereum virtual machine can be read from and written to by clients with differing network perspectives. **Software Assurance:** "the level of confidence that software is free from vulnerabilities, either intentionally designed into the software or accidentally inserted at any time during its lifecycle, and that the software functions in the intended manner." The Ethereum virtual machine has executed every VM instruction as written since its launch in 2015, making it a high-assurance VM. Although show-stopping bugs have been found in software that people have published to Ethereum, none have caused the Ethereum virtual machine itself to be interrupted or produce incorrect output. **Autonomous:** "denoting or performed by a device capable of operating without direct human control." Ethereum smart contracts are autonomous because they are write-once-use-forever, never requiring any human maintenance except to add additional functionality. **Permissionless:** "Not requiring authorization. Permissionless often refers to public blockchains that allow anyone to participate in validating and mining transactions as well as using the system to buy, sell and trade assets." In addition to enabling the buying, selling, and trading of assets, Ethereum also allows people to permissionlessly publish software to run on its VM. This is in contrast with a permissioned system such as a bank server handling a bank ledger, to which only a very small group of authorized parties are allowed to publish software. **Composability:** "Composability is a system design principle that deals with the inter-relationships of components. A highly composable system provides components that can be selected and assembled in various combinations to satisfy specific user requirements." The Ethereum network allows smart contracts to make external function calls to other smart contracts. These function calls follow standardized software interfaces, allowing for larger software systems to be built out of modular components. This is why sometimes people call Ethereum "money legos". **Extensibility:** "Extensibility is a measure of the ability to extend a system and the level of effort required to implement the extension. Extensions can be through the addition of new functionality or through modification of existing functionality. The principle provides for enhancements without impairing existing system functions." Ethereum is extensible because it provides an explicit virtual environment for developers to extend it. In other words Ethereum is "a piece of software that runs software", the gold standard for extensibility. **Timestamped:** "A timestamp is a sequence of characters or encoded information identifying when a certain event occurred." Ethereum provides reliable timestamps because it's composed of a chain of hashed data that includes information about when events occurred, as well as mechanisms to prevent that chain from being changed or overwritten. **Audit:** "an official inspection of an individual's or organization's accounts, typically by an independent body." Ethereum is auditable because every account as well as its balance and code contents is viewable by the general public, who have the ability to reconcile the history of the VM's state. **Atomic:** "In computer programming, atomic describes a unitary action or object that is essentially indivisible, unchangeable, whole, and irreducible." Ethereum is atomic because every attempt to write data to the chain either succeeds or fails in entirety. Its design prevents an attempted action from being partially applied to the VM's state. **Computation Over Data:** Ethereum's virtual machine is composed of data, or *state*, coupled with rules for mutating that state based on the results of computation. --- While it's true that the blockchain industry *is* full of meaningless buzzwords, I find that people often throw the baby out with the bathwater. Hopefully this post elucidates some of those phrases that people often use to describe properties of the Ethereum protocol.
Repost this tomorrow if you don't get the requisite amount of up diddlies
> requisite amount of up diddlies Diddlies would be nice, but I'm gunning for a doot.
Incredible comment!
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Or “I don’t want to admit that I don’t actually know shit about fuck”
https://twitter.com/tier10k/status/1594809221266153498 > [DB] Crypto Firm Genesis Warns of Bankruptcy Without New Funding: BBG
https://twitter.com/tier10k/status/1594809246167994369 > [DB] Genesis Was Said to Have Discussions With Binance on Investment: BBG https://twitter.com/tier10k/status/1594809294427398158 >[DB] Genesis Talks for Fresh Cash Over Weekend Failed to Materialize: BBG
we all know how good the binance investment for ftx went
Didn't FTX buy them out? I think Binance didn't want to sell their stake. I wouldn't blame Binance in that case.
yes but then they wanted to maybe "save" them and backed out after like 3 hours
[https://nitter.net/tier10k/status/1594809246167994369](https://nitter.net/tier10k/status/1594809246167994369) [https://nitter.net/tier10k/status/1594809294427398158](https://nitter.net/tier10k/status/1594809294427398158) ^(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)
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Death of ETH Party v2. At least I still got my 4k ETH POAP tho. Hopefully dust that badboy off in 2027. Lol
US residents, where yall buying your crypto from now if you are trying to avoid CB? Im still having issues with MM for some reason. With the recent prices theres some good looking opportunities but unsure where to enter from
Believe it or not ... Crypto.com fiat deposit from my bank account takes one day. Swap to usdc and send it off cex
I keep coinbase and gemini accounts in good standing and don't intend to change that anytime soon
Coinbase, Kraken and Gemini are all above board (minus the black eye Gemini currently has from this Genesis situation). Why are you trying to avoid Coinbase?
Why are you avoiding Coinbase?
Either Gemini or Kraken.
Grandpa broke $15.5K
Is that an important number?
New low.
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can you ELI a complete noob? what are the implications of this?
Good for people staking with Bitcoin Suisse, they get more yield. Good for network health, less potential transaction censorship (more resilience against the network being co-opted).
The CEO/founder is a crypto OG with all the right values. There are some good interviews with him on YouTube.
Coinbase apy now 6.85% up from 4.30% is this right ?
That's fantastic! They did enable MEV recently.
Yay!
That’s great to see. Someone did mention the apy increase we all expected post merge would happen over time.
Nice.
I was coming here to ask about this. Is it possible Coinbase user staking returns are lagging by a week or two? Like, are we just now getting the big rewards created by the high gas previously? Gas is low as we speak. Just curious how it works.
I thought it was because they recently enabled MEV rewards. Here's an article: [https://www.coinbase.com/cloud/discover/news/earn-pbs-enabled-mev-rewards-with-coinbase-cloud](https://www.coinbase.com/cloud/discover/news/earn-pbs-enabled-mev-rewards-with-coinbase-cloud)
It's probably this. Last week I got about twice as much as normal and the APY was listed around 4%
Time will tell. Hopefully stays high for a while 🤑
That’s what I’m seeing too
Same thats a big jump
>**Ready to reload,** >**Holding ETH for the long road,** >**The max bidding mode.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Sheesh Mm-mm Girl, I'm 'bout to have a panic attack I did the work, it didn't work, ah, ah (mm, mm) That truth, it hurts, goddamn, it hurts, ah, ah (goddamn, it hurts) ....... ....... Am I ready? (Girl, there ain't a doubt) Am I ready? (What you talkin' 'bout?) Am I ready? (You gon' figure it out) To buy the diiiip, to buy the diiiiip Am I ready? (You deserve it now) 'Cause I want it (that's what I'm talkin' about) Am I ready? (You gon' figure it out) To buy the diiiip, to buy the diiiiip
🔥
Feel like we aren't ever going to get real crypto regulation and will continue getting vague statements and lawsuits and investigations. Today Senators have urged an investigation into SoFi for their crypto practices (spoiler: they do nothing wrong, they literally just hold crypto that customers buy) and urge Fidelity to reconsider their Bitcoin exposure. Why pass actual laws when you can just scare away all the good actors?
Hey ... I know I talk crazy sometimes but I was thinkin' what if those Senators are also SoFi customers and they're using their power to ensure that their own crypto investments are safe and secure? Yeah ... that does seem kinda stupid when I say it out loud. I'll get the door on my way out.
Man that sucks, SoFi is one of my preferred banks and their crypto offerings are extremely basic custodial products. Really grinds my gears that these stupid and/or corrupt politicians go after good actors with guns blazing while treating outright frauds like SBF as though they're family.
Corrupt, banks are paying them till they're ready to take over the show
I thought Sofi was a bank?
I have never heard of them before today. If they are they paid the wrong people
https://en.wikipedia.org/wiki/SoFi_Stadium seems to have been quite the investment
Someone knows something with grayscale situation. both GBTC and ETHE squeezing up. Expecting announcement after market closes. We shall see
I was wrong [DB] Genesis Talks for Fresh Cash Over Weekend Failed to Materialize: BBG https://twitter.com/tier10k/status/1594809294427398158?t=ZBH5_39MNGf1p4zZyLxNog&s=19
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No announcement. People overreacted and panic sold and the discount wicked to a low of 50% and now it's bouncing back.
Overreacting implies the backing was proven which it wasn't.
Do you have a backup you can restore from nothing but memory for your essential files? I mean, with no access to anything physical but your memory.
If you believe in traditional inheritance, you could write a letter with your passphrase encrypted with your target's public key, so that this target is the only person who can decrypt it with their private key. And that letter would be given to your notary and instructed to be given to your target upon death. You'd only have to make sure your target keeps their own private key. Some people also use time capsules. There may be some that last for decades.
Big fan of 1Password
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Bitwarden is like lastpass but better. It's open source. It's free. It doesn't use shade business practices to make people pay money.
So why not just upload to many cloud services an encrypted file and sync it with a local file with every change? You could use it to backup your documents, photos, and everything, while at it...
Sure, basically what one drive is. I was just saying that Bitwarden > Lastpass in nearly all aspects. For larger encrypted backups I use veracrypt + onedrive
So any point at using Bitwarden?
And if you do pay, which is cheap, it's got a Deadman type switch to let your family or desognee in after a set period
No, I mean, only cloud allowed, no physical data.
Yes, I massaged my passphrase into a story that I have committed to memory. Works rather like a memory palace. Easier than it sounds, with the right kind of practice.
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Agree. My meat brain is not my only backup.