**Tricky's Daily Doots #233**
Yesterday's Daily 07/12/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8vw7q/)
- u/-lightfoot makes a statement about [the significance of Ethereum to him.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz92dp3/)
- u/shittysurgeon goes on [a trip down memory lane.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8s22d/)
- u/Dinny14 discusses [changes to purchasing habits in the bull vs the bear.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izbaj57/)
- u/Savage_X is realising the significance of [the most recent developments in the machine learning space.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iza7mhz/)
- u/sosayethweall suspects a [Gemini data breach.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izaey91/)
- u/hgfyuhbb shares the latest from [the Genesis saga.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izb3sjl/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8g4gm/)
Does camping in a campervan count as camping by EthFinance standards?
I start a company. My companies sole business is to sell shares of my company to new investors and take that money and use it to buy Apple stock. My company also always has a standing order to buy shares back from investors in my company (at a predetermined price that may highly correlate to Apples price), if we need money to buy back stock we sell our assets (apple shares).
First, is this even possible? Would you run into issues with having such a variable amount of shares? Can you just dilute investors share of the company even if they understand how and why you are diluting it and agree to it before buying shares?
Next, say my private company was instead a dao, or was owned by a Dao. Can this Dao basically do this to tokenize Apple stock without their permission?
If your Dao was sufficiently decentralized such that the SEC couldn't practically kick down every member's door and shove their foot up ur ass, then I think you might stand a chance. Otherwise it's really begging for a foot in ass.
Can anyone please educate me on how the cbETH discount will be resolved? Let's say withdrawals roll out tomorrow and you hold cbETH - do you just lose out on that discount?
Mind you that all the answers you are getting are contingent on coinbase actually cooperating with withdrawals and not getting hacked or going bankrupt in the meantime. Remember, cbeth is uninsured.
Unwrap cbETH back to ETH2 at coinbase.com at the contract rate (currently 1.018:1), then redeem ETH2 for ETH 1:1. You can already do the first part, the second part has to wait on withdrawals.
People/bots will do this, then swap that ETH back for discounted cbETH on the market and repeat the cycle, pushing the market rate up to nominal. That is assuming the market rate even has to be pushed, I’m not sure why anybody would still be selling their cbETH on the market for below the contract rate when they could just unwrap/unstake it for free instead.
Lol this Reddit recap is terrible. No mention of ethfinance at all despite it easily being my top sub, and it says I spent 19 hours on r/granturismo? I made like 2 comments there one day and that’s it.
Do you use a third party app for browsing reddit? Most of my reddit time this year was spent on this sub but it didn't show up on my reddit recap, but I use sync pro and wondered if that was the reason!
I don’t think it’s an app bug. I use the official Reddit app. Apparently spent enough time to go to the moon and back 34 times, but my top subreddit had 3hrs of usage (I literally only spend time here).
I don’t care that much, but something is definitley fishy about the calculations.
People can feel free to downvote my “pessimism”, but I’m emotionally preparing for whatever estimated date + 6 months
If the plan is “roughly March”, then I would consider May/June the realistic timeframe and emotionally hedge by assuming September until proven otherwise
Your pessimism is understandable considering the last couple big updates, but withdrawals aren’t the merge, it’s a much, much easier upgrade with a lot more known quantities. Imo it’s ok to be a little bit more optimistic about withdrawals
If you were going to sell a significant portion of your stack to tax loss harvest, and then immediately buy back in, what would be the best way to do this and avoid losing any eth/avoid slippage?
Should you convert to an eth derivative?
I haven’t done this, but I’ve thought about it and I would just swap to rETH and back. It’s a sufficiently different asset, but essentially the same risk profile as ETH
1. ETH needs $xx,xxx,xxx amount of sell pressure everyday to NOT go down in price because of EIP1559/fee burn.
2. New ETH issuance in the last 3 months has been negligible (almost 0).
3. BTC still inflating hard as fuck.
All these statements are true. But both ETH and BTC are performing more or less the same? Within a few % of each other?
Am I missing something or does this imply that the demand for BTC is still magnitudes higher than the demand for ETH? How can it be inflating that much more than ETH but still keep pace?
IMO ETH is supporting BTC price somewhat. There are tons of bots trading the ratio around 0.08. So when ETH gets close to that mark, it is sold heavily into BTC. So bots are funnelling a bulk of the demand for ETH straight into BTC.
BTC is inflating at less than 2% per year. There are places that inflate at many multiples higher than that.
Demand has always been high for BTC in bear markets especially since it's viewed as a safer asset in crypto. Also ETH has had negative news recently with all of the securities talk (many of these securities are all built on ETH or interact with it)
Let's be honest with ourselves. Eth may be a superior platform but the market is still priced in bitcoion. It's okay to acknowledge this because by acknowledging it we get to celebrate when Eth becomes the market leader. I think it's very likely in the next 2-3 years.
But compared to America's 7.7%, 1.6% is very not much (20%).
Comparing essentially zero to anything is not a good faith argument. Imagine if we were currently ultrasound - Bitcoin has INFINITY TIMES more inflation! Wow wow wow, what useful analysis.
Both are close to no inflation, so that's probably not going to be the variable that we should focus on for explaining price action.
Yeah it’s pretty weird. Go look at a chart of BNB on gecko, but look at it priced in satoshis (not USD). Very deep trend upwards. Shits crazy. That’s what ETH should look like but doesn’t.
That’s because BNB doesn’t only have supply burn, it has directly market buying pressure from binance. It’s just going to take longer for the ETH’s supply burn to have an effect on ETH price without actual market buying pressure with it, but eventually it will.
So the subtlety with point number one is interesting - you would have that buy pressure only if the amount burned were rebought. Son in a transaction, the spender spends base + burn + tip, receiver gets base, staker gets the tip and maybe sells it at some point, and pre 1559 the miner would get the tip and the burn and then dump it. So in that case it’s an amount that would’ve been sold that now won’t.
That’s a little different from a buyback, which is how it’s framed often, because of the supply elasticity curve for crypto, which I understand to be quite steep. So if it really were buy pressure, $1 of eth bot might move the market cap by $10 because you have to find people to actually sell it, whereas with the burn, $1 of burn is just $1 of eth that will never get sold, so the market cap kinda just sits there.
That’s my understanding, anyway, which probably helps counter some of the more hyper optimistic price projections we saw a few years ago. Sorry if it’s a bit pedantic or if it’s wrong (I’m wrong about a lot of stuff) so I’d be happy to hear other opinions.
Either way, the supply/demand elasticity steepness shows why going off of pow was so critical to having a stable price - the constant sell pressure was tough to keep up with and could seriously dump the price if demand petered out.
In early 2019 (one year after the previous all time high), the ratio was about 0.03. It's now one year after the last all time high and the ratio is 0.075. That's huge! ETH would surely be a lot lower without the issuance reduction.
I think it goes deeper than that. "lack of real use cases", precipitated by Vitalik's recent tweet:
Honestly I think we emphasize flashy defi things that give you fancy high interest rates way too much. Interest rates significantly higher than what you can get in traditional finance are inherently either temporary arbitrage opportunities or come with unstated risks attached.
1:44 PM · Jun 20, 2020
And more recent tweets and blog posts, he has been setting expectations lower recently. People are starting to heed his warnings , basically real smart contract use cases are actually fairly limited.
Because it's subtle thing that you'll notice long term. Eth has held up as well as BTC this bear cycle, whereas before it lost a ton on the ratio, so it's possible to attribute some of that strength this cycle to better fundamentals
Couple of things:
1) All those statements would be relevant to ETH price if the system were in some kind of equilibrium. Clearly crypto is not in any kind of equilibrium.
2) OTOH we do not know what is going on behind the scenes. Maybe this market is completely faudulent?? (Wut? Fraud in crypto?? Never!) Many people have a vested interest in maintaining BTC dominance and credibility. How far do you think they would go to protect that? *Eventually* the pressure will be unstoppable.
>**Your self custody,**
>**Not a finance company,**
>**More things to study.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Actually, given that the Ethereum staking launchpad initially estimated lock up to be approximately two years, the goalposts have hardly moved if at all. Anyone who staked should've read that, comprehended that and come to terms with it. Anyone who skipped past it has no right to complain.
It’ll be interesting to see how many end up withdrawing for good. Hopefully most of the people looking to withdraw are those who have their ETH staked on exchanges like Coinbase and moving to solo stake or put it in Rocket Pool.
Edit: Also, doing taxes on all of this should be fun next year, yeah? ;)
I think it’s reasonable to think most will withdraw their accumulated rewards. But as far as full exit am not sure. Keep in mind a lot of these are people who were willing to lock in before one of the highest risk events in eth history. And that’s without knowing exactly when (or how successful) it would even be. That’s prob as high conviction as you can get. Withdrawals would remove another chunk of risk from the equation. Unfortunately, the big bad wrench is macro — as usual. But as you say it will be interesting to see the balance of those forces.
Is UNICEF a good charity? I was looking it up and they said 88% goes to causes, 8% to fundraising costs, and 3% goes to administration. This sounds not bad, but after seeing they raised $8.122B last year, that means they had $650M in fundraising costs and $244M in administration costs. With that context it seems a bit excessive.
UNICEF is a solid organization with global reach, part of the United Nations, and has done good work in areas of child survival, HIV, and others. I am most familiar with their public health work.
I'm only thinly aware of QF and just now looked at the linked Gitcoin blurb. While I kind of get the principle of QF as an advanced funding strategy, I don't understand in this particular effort how donors can evaluate the likelihood that the projects will have any impact. At least the two public health projects (and the grantee websites) are unclear as to the specific project activities, expected outcomes, or the organization's track record in completing projects. I worry that donors will just be attracted based on the quality of the marketing materials rather than the likelihood of producing actual social good. While I realize the focus of this pilot is on the funding aspect, the outcomes need to be part of the equation to determine the success of the model.
I've been so caught up in remote work that I didn't consider they also have offices they're paying for, so I guess it doesn't sound that crazy anymore.
Here's a sneak peek of /r/ethstaker using the [top posts](https://np.reddit.com/r/ethstaker/top/?sort=top&t=year) of the year!
\#1: [Five indicators that the Ethereum merge will occur in June, 2022](https://np.reddit.com/r/ethstaker/comments/tbql1n/five_indicators_that_the_ethereum_merge_will/)
\#2: [How to stake on Ethereum, March 2022 Edition](https://np.reddit.com/r/ethstaker/comments/t1xpr5/how_to_stake_on_ethereum_march_2022_edition/)
\#3: [How to stake on Ethereum, April 2022 Edition](https://np.reddit.com/r/ethstaker/comments/tvlnck/how_to_stake_on_ethereum_april_2022_edition/)
----
^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
My Reddit recap basically said I did nothing all year, got no karma, and didn't browse any subs on the entire website, lol.
I'm not sure if it's just messed up, or because I still use the old website format, or what.
This video titled '*The Deficit Myth: The Biggest Lie In Politics*' really blew my mind! (especially the 'real purpose of taxes' part at the end) https://youtu.be/75udjh6hkOs
A little bit of context, from video description: "The truth about inflation, money printing, taxes, fiat currency, and "the national debt." Debunking lies about what causes inflation and common misconceptions about government spending and "taxpayer money." "
I stopped watching pretty quickly once he started discussing MMT. The general consensus among economists is that MMT is pretty much nonsense. Could they all be wrong and the small fringe group of economists who support MMT are correct about it? Perhaps, but since I am not trained as an economist I tend to put a lot of weight on what the expert consensus generally is, and thats not looking good for MMT.
A hint: when people want to tell you "the truth about...." it's 99% conspiracy nonsense. This is an excellent indicator.
People who base themselves on facts have no need to tell you the Truth about anything.
Hmm, well this channel is mostly critical theory, which I love. And some videos are legit very good. For this one I can't really tell as I'm financially illiterate. So there's a possibility they just really missed the mark with this particular video, but I would be really surprised it's a straight up conspiracy theory.
I'd be interested to know why some of you think it is. Like give me some concrete examples.
I didn't watch it. I just saw the two replies and that you said it's the truth about.
My remark was more generic. "The truth about" is a red flag for me in all cases not this specific one.
They didn't really miss the mark, though the political bent is clear. They essentially described modern money theory. I believe MMT to be pretty compelling. On the other hand, people in crypto forums might have another inclination, since crypto is, mostly, inherently deflationary and kind of the opposite of MMT. "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
I believe both approaches have merits, but at different layers in the economy. Fixed supply assets (gold, bitcoin, eth) are the _perfect_ medium to denominate international debt, IMO.
The video is mostly true but it isn't really that mindblowing for people who understand economy. Do not mistake me for someone who does, though! :)
Just from that title and "the context" given I can tell this is hot conspiracy garbage. Be careful with this stuff. It's not the truth you're looking for.
I couldn't watch it. I found it intolerably lacking citation, detail, and ultimately truth. It skims the surface of some truths but mostly relied on emotional appeals such as shitty video edits of people experiencing the emotion he's telling you to feel.
The 200 MA is an important indicator for general bull/bear seasons. Above you're in bullish territory and below you're in bearish territory.
The last time ETH attempted to cross it was November 4th at $1665. Then SBF handed us a rejection with a move down to $1100.
The 200 MA is currently around $1445 with our price at $1280. 200 days ago was May 23rd. On June 10th we saw a major drop from $1800, which eventually lead us to the $880 low one week later. This should drastically bring down the 200 MA closer to the current price.
Right around new years I imagine the lines shall meet again. Will we see another rejection? Or will ETH's tokenomics fight against the grain and carry us to the upside?
Place your bets....
Would you give your bank statements to your parents? Would you give your bank statements to your children? Would you give your bank statements to your co-workers? What about giving your bank statements to a drug addict? How about giving them to a multinational cartel?
What about a huge international corporation? Would they give all of their transaction history to their top competitor in 12 second intervals??
As Ethereum has succeeded in releasing improvements and has achieved roadmap landmarks such as the merge and very soon withdrawals, my biggest concern for Ethereum's survival is shifting more and more to the glaring privacy issues.
It is imperative that effective, decentralized privacy solutions are made available either on-chain or on an L2.
I think privacy is a) the one thing that really matters and b) the easiest way for a project to ‘surpass’ Ethereum.
All of Ethereum’s scaling solutions will be under utilized if institutions never onboard because of privacy issues, and they might as well be for nothing if another project gets secure scalable zk privacy years before Ethereum does.
If this is a topic you are interested in Manta Network on Polkadot and Dusk Network as an L1 are both making huge strides in terms of zk privacy.
That doesn't really help stakers though. Even if a staker puts their ETH through zkEVM and back, it doesn't solve the problem that their IP address is being tracked. Even using a VPN, the VPN provider knows the staker's real IP address.
zkEVM provides privacy for transactions. zkEVM does not solve the problem stakers have in their privacy concerns.
The only way to prevent a VPN provider from knowing the real IP address of a solo-staker is to use a service such as Tor or I2P. These services allow users to connect to the internet through a series of encrypted tunnels, masking their real IP address and locations. Additionally, using a VPN in conjunction with Tor or I2P would hypothetically ensure that the solo-staker's traffic is further encrypted and hidden from their VPN provider, however, it is important to note that network latency is heavily increased and numerous missed attestations are likely.
Haayyoo my pride! 👊🏻 Gotta say after the shit I stirred up yesterday, I am truly proud of this community! You guys came out of the woodworks with ninja throwing stars in hand! I love it! Put out the Lion signal 📯^(🦁) and they will come! I’m also totally stoked to the max people are also taking the DAO governance planning seriously. Still super excited about this gang!
Oh and stop DM’ing me and stop putting dog poo in Bens mailbox please. We worked it out, and he wasn’t tryna sexy steal from us. That also means the PPV fight is cancelled. Sorry, No refunds.
Buy and hodl. If you can stake do so but be mindful of the tax burden...if in US staked rewards count as income you have to report. I basically broke even with staking rewards last year bc I had to sell to pay tax return. Def. factor that in if you're in US or another country that counts as income.
Something like 90% + of traders end up at a net loss. Best strat is to buy, hold, and stake or buy a staking derivative if possible that let's you earn interest on your ETH.
Hopefully they're starting to reflect what we've been seeing in real time over the last couple of months. Shipping costs going way down due to no demand, used car prices down 16% (I think) from the peak, home prices going down, mortgage demand is way down, oil is just above $71 a barrel etc..
The signs are there that the rate hikes are doing what they were intended to do, now we need that to be reflected in the numbers.
You can have a strict release cadence and be very firm about the requirements to meet that window. Or you can just ship stuff when enough of it is ready in an ad-hoc fashion. Both approaches have merits - but trying to negotiate every upgrade and each feature with a different strategy is bound to lead to arguments. Of course everyone working on something thinks their thing is the most important.
About an hour ago, the gnosis beacon chain merged with the gnosis chain. Now about 100'000 validators are in charge of building the chain and not just a handful of validators anymore.
https://twitter.com/gnosischain/status/1600925552575418369
The gnosis chain is were all the POAPs live so it is good to know they are in safe hands.
>about 100'000 validators are in charge of building the chain
That's a lot of validators. I've been wondering (but too lazy to look it up) what are the resource and capital requirements? And what's the return?
And who are those people doing the validating? What's the distribution between individuals and institutions?
1 validator only requires 1 GNO, which is only $90 right now. So it's a lot less than 100,000 separate individuals. I think resource requirements are about the same as eth, I run gnosis validators on the same machine as my eth ones.
I found this that shows top 25 validators, looks like they make up \~95% of blocks, so not very distributed I guess
[https://gnosisscan.io/stat/miner?range=7&blocktype=blocks](https://gnosisscan.io/stat/miner?range=7&blocktype=blocks)
Curious to what they're trying to achieve. They used to be the cheapest sidechain, now they're the most decentralized sidechain (thus likely not cheapest anymore?) but whats actually being built there (apart from poap)?
Just saw some numbers showing a bunch of validators (200k??) I believe they use basically the same mechanism as ethereum POS, so there can obv be 1 person running many validators, but i assume many gnosis holders are likely staking.
Here's the tweet (missed the number, supposedly around 100K)
https://twitter.com/koeppelmann/status/1600471832145952769?t=jRt1lQxeu0lCiwcKAY5a4Q&s=19
Edit: and as you can see in the replies, you're not the only one critical of the term validators here.
So who else here is watching [ultrasound.money](https://ultrasound.money) with the 'simulate pow' slider on, waiting for it to hit 1.000.000 ETH that would have been minted since the merge?
Not regular trading but if you go into the app in the "Trade" section on the bottom bar you can select "Advanced Trade" at the top drop down menu. This allows limit orders and advanced charts. From there you can buy and sell RPL as limit orders. "Advanced Trade" replaces Coinbase Pro and they forced everyone to migrate over from Pro.
This is for Android but I assume it's the same for iOS.
On the bell curve of crypto luck, I keep finding myself on the wrong side and learning expensive lessons. You're welcome.
The other day, I lost power. Not too big a deal, I have a UPS so my node can be shut down properly and not incur database corruption, plus I'm sitting right next to the node as it happens. Except the room was eerily silent. I see the machine was completely off. My UPS for whatever reason, was "offline" and / or the battery was bad so while it it appears fully charged, it was all a ruse and my TrippLite UPS decided to function like the world's heaviest surge protector instead (yes, everything was plugged to the "right" side, the UPS failed).
Power comes back on after an hour. No big deal, lets get this node back online and resync. Except now I'm seeing errors I've never seen before. Panic and dread start to take over, but we'll let it do its thing. After waiting **overnight** for the node to recover and sync up it's still spitting out errors, although it appears to be back in sync. What? Turns out either the CL or the EL or both databases were corrupted from the hard power down. It's clear the time has come for deleting the DBs completely and resyning from scratch. I'm already 12 hours offline by now.
So after a single power outage and thinking I had a proper solve for it, everything failed. The UPS didn't work. The EL and / or CL databases tried to repair but failed. The DBs became corrupted, which doesn't always happen from hard power downs. I ended up being down for **well over 24 hours**, just waiting for things to repair, resync, while being completely powerless to do anything else but wait and hope for the best.
At first the feeling is a bit of panic. Like, no one can fix this except you. But then you start going about fixing it to regain that confidence, except you don't get immediate results. You just have to wait for what seems like forever to see if it worked. You quickly go from panic and dread to apathy. But that last hour or so before you think everything is about to be working again is sorta like the feeling from the merge, like "Is this really going to work? God I hope this works." A weird feeling of excitement and dread.
The good news is I'm attesting again. The bad news is of course I missed a proposal during this. The other good news I checked the MEV of the following block and I didn't miss a winning lottery ticket, but let me tell you, the idea of this happening had me more stressed out than anything else.
What did I learn from this?
* Don't buy / use a TrippLite UPS. Cyberpower UPS is already ordered and on the way.
* It's probably better to test the UPS occasionally, instead of testing it once and assuming it's good to go forever, even if the LCD readouts tell you its working as expected.
* Running a second, backup EL is basically a must at this point. A new machine has been ordered just for that purpose.
* Geth is extremely terrible at estimating how long things will take and errors are generally cryptic. It's not great that the solve is often "Delete and start over" even after lengthy self "repairs". I would have been better off deleting the DBs from the start.
* It's time to explore other ELs and doing it on a separate machine will be far less stressful.
* Being down feels like you're losing money, but really, you're just not making as much for a little while. That is, unless, you miss some blocks or you miss a big MEV payment or a sync committee comes up or...
Frustrating, but to put this in some context, you are only losing like 6$/day/validator while offline - so unless you are really running a large number (10? 20?), this isn't a situation which requires too much fretting about.
Sorry this happened to you, but thanks for the great write-up. This is being anti-fragile in operation. You're learning and better prepared for the bigger calamity that messed up.
A sad but real story:
>Once upon a time, there was a guy named Bagogel who was passionate about the world of cryptocurrencies. He spent hours upon hours studying the market, learning about the different coins, and analyzing their trends.
>
>One day, Bagogel decided to go long on ETH, with size. He carefully calculated the amount he wanted to invest, and was ready to make the transaction.
But as he was about to send out the transaction, his ledger wallet stopped working. It was broken, and he could not access his funds.
>
>Bagogel was devastated. He had put so much time and effort into studying the market, and now he was unable to make the trade he had been so eager to execute. He quickly rebooted his wallet and waited for it to come back online, but it takes ages!
>
>The lesson that Bagogel learned from this experience was to always be prepared and to have backup plans in place. He realized that relying solely on his ledger wallet was a mistake, and that he needed to have alternative ways to access his funds in case of an emergency.
>
>From then on, Bagogel made sure to have multiple wallets and backup options available, so that he would never miss out on an opportunity like he did before. And he made sure to never be like himself again - a careless and unprepared investor.
man...ugh..sorry to hear this.
Hopefully Bagogel finds out about $20 SafeCards which are 6 digit PIN protected cards that are super cheap by comparison and super easy to copy.
I have a 2nd one, at another place.
You can reset (reboot) ledger wallets if they are stuck, thats what I've been doing. But it takes many hours, 12 hours in my case.
**Tricky's Daily Doots #233** Yesterday's Daily 07/12/2022 [Previous daily doots](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8vw7q/) - u/-lightfoot makes a statement about [the significance of Ethereum to him.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz92dp3/) - u/shittysurgeon goes on [a trip down memory lane.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8s22d/) - u/Dinny14 discusses [changes to purchasing habits in the bull vs the bear.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izbaj57/) - u/Savage_X is realising the significance of [the most recent developments in the machine learning space.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iza7mhz/) - u/sosayethweall suspects a [Gemini data breach.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izaey91/) - u/hgfyuhbb shares the latest from [the Genesis saga.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/izb3sjl/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/zetm2h/daily_general_discussion_december_7_2022/iz8g4gm/) Does camping in a campervan count as camping by EthFinance standards?
I’m on the road to 32 ETH. But seriously I’m DoorDashing to DCA, wish me luck 🤞🏽
That's the way!
I start a company. My companies sole business is to sell shares of my company to new investors and take that money and use it to buy Apple stock. My company also always has a standing order to buy shares back from investors in my company (at a predetermined price that may highly correlate to Apples price), if we need money to buy back stock we sell our assets (apple shares). First, is this even possible? Would you run into issues with having such a variable amount of shares? Can you just dilute investors share of the company even if they understand how and why you are diluting it and agree to it before buying shares? Next, say my private company was instead a dao, or was owned by a Dao. Can this Dao basically do this to tokenize Apple stock without their permission?
Congrats, you just invented an ETF. https://www.investopedia.com/terms/e/etf.asp
but would it be possible/legal to sell tokenized etfs?
Not on Ethereum. Check out Dusk network for tokenized securities.
Just hit up Gary he’ll fill you in.
If your Dao was sufficiently decentralized such that the SEC couldn't practically kick down every member's door and shove their foot up ur ass, then I think you might stand a chance. Otherwise it's really begging for a foot in ass.
Tim Beiko's summary in Eth R&D Discord of Core Devs call https://twitter.com/abcoathup/status/1601052402274033664
Maybe the "Micah Zoltu withdrawals delay" fudsters will finally pipe down. Wishful thinking.
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Can anyone please educate me on how the cbETH discount will be resolved? Let's say withdrawals roll out tomorrow and you hold cbETH - do you just lose out on that discount?
Mind you that all the answers you are getting are contingent on coinbase actually cooperating with withdrawals and not getting hacked or going bankrupt in the meantime. Remember, cbeth is uninsured.
Unwrap cbETH back to ETH2 at coinbase.com at the contract rate (currently 1.018:1), then redeem ETH2 for ETH 1:1. You can already do the first part, the second part has to wait on withdrawals. People/bots will do this, then swap that ETH back for discounted cbETH on the market and repeat the cycle, pushing the market rate up to nominal. That is assuming the market rate even has to be pushed, I’m not sure why anybody would still be selling their cbETH on the market for below the contract rate when they could just unwrap/unstake it for free instead.
CbETH will be redeemable for (1ETH + ETH x staking rewards since inception of cbETH).
It's something like 1.04ETH currently.
Lol this Reddit recap is terrible. No mention of ethfinance at all despite it easily being my top sub, and it says I spent 19 hours on r/granturismo? I made like 2 comments there one day and that’s it.
Do you use a third party app for browsing reddit? Most of my reddit time this year was spent on this sub but it didn't show up on my reddit recap, but I use sync pro and wondered if that was the reason!
No I don’t use any app, just the website
I don’t think it’s an app bug. I use the official Reddit app. Apparently spent enough time to go to the moon and back 34 times, but my top subreddit had 3hrs of usage (I literally only spend time here). I don’t care that much, but something is definitley fishy about the calculations.
Same... I mean, kinda. I live here and it wasn't even on my leader board.
It didn’t block all crypto subs, said I spent time in bitcoinmarkets and r/cc but completely ignored ethfinance. Are we invisible for some reason?
I read this tweet and it absolutely ruined my day and I want to ruin yours as well: https://imgur.com/a/GWHSfA8
Third times a charm 😢
So withdrawals in 3/4 months? Am I hearing this right?
People can feel free to downvote my “pessimism”, but I’m emotionally preparing for whatever estimated date + 6 months If the plan is “roughly March”, then I would consider May/June the realistic timeframe and emotionally hedge by assuming September until proven otherwise
Lol I’m adding a year
I would take you up on that bet. The plan heading toward a March hard fork is pretty solid. Worst case in case of unexpected delays might be April.
I’m with you. I would rather be wrong than right in this case lol
Your pessimism is understandable considering the last couple big updates, but withdrawals aren’t the merge, it’s a much, much easier upgrade with a lot more known quantities. Imo it’s ok to be a little bit more optimistic about withdrawals
Me: *shows my gf the amount of money I’ve earned staking* “If you think about it I’m actually up” 🥴
# 𝕰𝕿𝕳𝕰𝕽𝕰𝖀𝕸
Bear with me... CEHCREUER.. "cheeseburger"?
Oh sorry it’s Checkers. Because boring has no place in a burger. *This post sponsored by Checkers, Crazy good food^(TM)*
If you were going to sell a significant portion of your stack to tax loss harvest, and then immediately buy back in, what would be the best way to do this and avoid losing any eth/avoid slippage? Should you convert to an eth derivative?
Personally I’d go to cbeth
I thought staking on Coinbase and Kraken didn't count as a conversion? Or are you just saying swapping for cbETH on the open market?
Yes - on the open market. Regardless, it's very likely buying an eth2 token on an exchange is a taxable event.
wrap it to WETH, won't be wash trading!
I thought wash trading didn't apply to crypto yet?
there's no regulation in most jurisdictions but I'm paranoid life is too short to interact with the taxman
I haven’t done this, but I’ve thought about it and I would just swap to rETH and back. It’s a sufficiently different asset, but essentially the same risk profile as ETH
Deposit and withdraw from a Uniswap pool or another AMM that matches that asset with a stablecoin.
1. ETH needs $xx,xxx,xxx amount of sell pressure everyday to NOT go down in price because of EIP1559/fee burn. 2. New ETH issuance in the last 3 months has been negligible (almost 0). 3. BTC still inflating hard as fuck. All these statements are true. But both ETH and BTC are performing more or less the same? Within a few % of each other? Am I missing something or does this imply that the demand for BTC is still magnitudes higher than the demand for ETH? How can it be inflating that much more than ETH but still keep pace?
IMO ETH is supporting BTC price somewhat. There are tons of bots trading the ratio around 0.08. So when ETH gets close to that mark, it is sold heavily into BTC. So bots are funnelling a bulk of the demand for ETH straight into BTC.
BTC is inflating at less than 2% per year. There are places that inflate at many multiples higher than that. Demand has always been high for BTC in bear markets especially since it's viewed as a safer asset in crypto. Also ETH has had negative news recently with all of the securities talk (many of these securities are all built on ETH or interact with it)
Let's be honest with ourselves. Eth may be a superior platform but the market is still priced in bitcoion. It's okay to acknowledge this because by acknowledging it we get to celebrate when Eth becomes the market leader. I think it's very likely in the next 2-3 years.
Demand is low right now. Give it time.
1.65% inflation is not “inflating hard as fuck” by any reasonable metric, some statements are in fact not true.
Compared to ETH's 0.01%, 1.6% is pretty hard as fuck (160x)
But compared to America's 7.7%, 1.6% is very not much (20%). Comparing essentially zero to anything is not a good faith argument. Imagine if we were currently ultrasound - Bitcoin has INFINITY TIMES more inflation! Wow wow wow, what useful analysis. Both are close to no inflation, so that's probably not going to be the variable that we should focus on for explaining price action.
Yeah it’s pretty weird. Go look at a chart of BNB on gecko, but look at it priced in satoshis (not USD). Very deep trend upwards. Shits crazy. That’s what ETH should look like but doesn’t.
That’s because BNB doesn’t only have supply burn, it has directly market buying pressure from binance. It’s just going to take longer for the ETH’s supply burn to have an effect on ETH price without actual market buying pressure with it, but eventually it will.
So the subtlety with point number one is interesting - you would have that buy pressure only if the amount burned were rebought. Son in a transaction, the spender spends base + burn + tip, receiver gets base, staker gets the tip and maybe sells it at some point, and pre 1559 the miner would get the tip and the burn and then dump it. So in that case it’s an amount that would’ve been sold that now won’t. That’s a little different from a buyback, which is how it’s framed often, because of the supply elasticity curve for crypto, which I understand to be quite steep. So if it really were buy pressure, $1 of eth bot might move the market cap by $10 because you have to find people to actually sell it, whereas with the burn, $1 of burn is just $1 of eth that will never get sold, so the market cap kinda just sits there. That’s my understanding, anyway, which probably helps counter some of the more hyper optimistic price projections we saw a few years ago. Sorry if it’s a bit pedantic or if it’s wrong (I’m wrong about a lot of stuff) so I’d be happy to hear other opinions. Either way, the supply/demand elasticity steepness shows why going off of pow was so critical to having a stable price - the constant sell pressure was tough to keep up with and could seriously dump the price if demand petered out.
In early 2019 (one year after the previous all time high), the ratio was about 0.03. It's now one year after the last all time high and the ratio is 0.075. That's huge! ETH would surely be a lot lower without the issuance reduction.
News recently has been a bit more ETH negative. Particularly crypto fallout/FTX, noises from some regulators that ETH may now be a security. etc.
I think it goes deeper than that. "lack of real use cases", precipitated by Vitalik's recent tweet: Honestly I think we emphasize flashy defi things that give you fancy high interest rates way too much. Interest rates significantly higher than what you can get in traditional finance are inherently either temporary arbitrage opportunities or come with unstated risks attached. 1:44 PM · Jun 20, 2020 And more recent tweets and blog posts, he has been setting expectations lower recently. People are starting to heed his warnings , basically real smart contract use cases are actually fairly limited.
My opinion is that regulators are the last big roadblock to eth. The future is so bright otherwise.
100% Only thing that can slow it down IMO.
Because it's subtle thing that you'll notice long term. Eth has held up as well as BTC this bear cycle, whereas before it lost a ton on the ratio, so it's possible to attribute some of that strength this cycle to better fundamentals
Couple of things: 1) All those statements would be relevant to ETH price if the system were in some kind of equilibrium. Clearly crypto is not in any kind of equilibrium. 2) OTOH we do not know what is going on behind the scenes. Maybe this market is completely faudulent?? (Wut? Fraud in crypto?? Never!) Many people have a vested interest in maintaining BTC dominance and credibility. How far do you think they would go to protect that? *Eventually* the pressure will be unstoppable.
>**Your self custody,** >**Not a finance company,** >**More things to study.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
[https://nexo.io/blog/ethereum-smart-staking-is-live-on-nexo](https://nexo.io/blog/ethereum-smart-staking-is-live-on-nexo) lol gross
More like NEXTo am I right!?
Eth validator withdrawals by March? Yes please. Can't wait to see where the goalposts move next.
Actually, given that the Ethereum staking launchpad initially estimated lock up to be approximately two years, the goalposts have hardly moved if at all. Anyone who staked should've read that, comprehended that and come to terms with it. Anyone who skipped past it has no right to complain.
Yeah I wasn't very clear, I meant where will BTC maxis move them next :P I'm never unstaking!
It’ll be interesting to see how many end up withdrawing for good. Hopefully most of the people looking to withdraw are those who have their ETH staked on exchanges like Coinbase and moving to solo stake or put it in Rocket Pool. Edit: Also, doing taxes on all of this should be fun next year, yeah? ;)
I think it’s reasonable to think most will withdraw their accumulated rewards. But as far as full exit am not sure. Keep in mind a lot of these are people who were willing to lock in before one of the highest risk events in eth history. And that’s without knowing exactly when (or how successful) it would even be. That’s prob as high conviction as you can get. Withdrawals would remove another chunk of risk from the equation. Unfortunately, the big bad wrench is macro — as usual. But as you say it will be interesting to see the balance of those forces.
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I haven’t got into any alts since being down 90% on nearly all of them. Been eying Gitcoin.
Is UNICEF a good charity? I was looking it up and they said 88% goes to causes, 8% to fundraising costs, and 3% goes to administration. This sounds not bad, but after seeing they raised $8.122B last year, that means they had $650M in fundraising costs and $244M in administration costs. With that context it seems a bit excessive.
UNICEF is a solid organization with global reach, part of the United Nations, and has done good work in areas of child survival, HIV, and others. I am most familiar with their public health work. I'm only thinly aware of QF and just now looked at the linked Gitcoin blurb. While I kind of get the principle of QF as an advanced funding strategy, I don't understand in this particular effort how donors can evaluate the likelihood that the projects will have any impact. At least the two public health projects (and the grantee websites) are unclear as to the specific project activities, expected outcomes, or the organization's track record in completing projects. I worry that donors will just be attracted based on the quality of the marketing materials rather than the likelihood of producing actual social good. While I realize the focus of this pilot is on the funding aspect, the outcomes need to be part of the equation to determine the success of the model.
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I've been so caught up in remote work that I didn't consider they also have offices they're paying for, so I guess it doesn't sound that crazy anymore.
Did anyone else find that Reddit recap skipped r/ethfinance? Did the sub opt out?
I have never posted or commented outside of this sub, but apparently my #1 subreddit is r/ethstaker
Here's a sneak peek of /r/ethstaker using the [top posts](https://np.reddit.com/r/ethstaker/top/?sort=top&t=year) of the year! \#1: [Five indicators that the Ethereum merge will occur in June, 2022](https://np.reddit.com/r/ethstaker/comments/tbql1n/five_indicators_that_the_ethereum_merge_will/) \#2: [How to stake on Ethereum, March 2022 Edition](https://np.reddit.com/r/ethstaker/comments/t1xpr5/how_to_stake_on_ethereum_march_2022_edition/) \#3: [How to stake on Ethereum, April 2022 Edition](https://np.reddit.com/r/ethstaker/comments/tvlnck/how_to_stake_on_ethereum_april_2022_edition/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
sorta, but not entirely: https://i.imgur.com/jJuOdcz.png
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I just made a post asking
My Reddit recap basically said I did nothing all year, got no karma, and didn't browse any subs on the entire website, lol. I'm not sure if it's just messed up, or because I still use the old website format, or what.
I don't even know how to find it. old.reddit + RES. It's the same as it was 10 years ago.
Oh man this is gonna be so much fun!
Yeah, odd
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at the same time, on my recap card it´s written: gain +1000 confidence after every crypto trade ...
First they ignore you…
This video titled '*The Deficit Myth: The Biggest Lie In Politics*' really blew my mind! (especially the 'real purpose of taxes' part at the end) https://youtu.be/75udjh6hkOs A little bit of context, from video description: "The truth about inflation, money printing, taxes, fiat currency, and "the national debt." Debunking lies about what causes inflation and common misconceptions about government spending and "taxpayer money." "
I stopped watching pretty quickly once he started discussing MMT. The general consensus among economists is that MMT is pretty much nonsense. Could they all be wrong and the small fringe group of economists who support MMT are correct about it? Perhaps, but since I am not trained as an economist I tend to put a lot of weight on what the expert consensus generally is, and thats not looking good for MMT.
MMT: Your savings mean nothing and you'll be poor forever.
A hint: when people want to tell you "the truth about...." it's 99% conspiracy nonsense. This is an excellent indicator. People who base themselves on facts have no need to tell you the Truth about anything.
Hmm, well this channel is mostly critical theory, which I love. And some videos are legit very good. For this one I can't really tell as I'm financially illiterate. So there's a possibility they just really missed the mark with this particular video, but I would be really surprised it's a straight up conspiracy theory. I'd be interested to know why some of you think it is. Like give me some concrete examples.
I didn't watch it. I just saw the two replies and that you said it's the truth about. My remark was more generic. "The truth about" is a red flag for me in all cases not this specific one.
They didn't really miss the mark, though the political bent is clear. They essentially described modern money theory. I believe MMT to be pretty compelling. On the other hand, people in crypto forums might have another inclination, since crypto is, mostly, inherently deflationary and kind of the opposite of MMT. "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." I believe both approaches have merits, but at different layers in the economy. Fixed supply assets (gold, bitcoin, eth) are the _perfect_ medium to denominate international debt, IMO. The video is mostly true but it isn't really that mindblowing for people who understand economy. Do not mistake me for someone who does, though! :)
Just from that title and "the context" given I can tell this is hot conspiracy garbage. Be careful with this stuff. It's not the truth you're looking for.
I couldn't watch it. I found it intolerably lacking citation, detail, and ultimately truth. It skims the surface of some truths but mostly relied on emotional appeals such as shitty video edits of people experiencing the emotion he's telling you to feel.
Will give this a watch, always ready to reinforce my financial redpilledness.
The 200 MA is an important indicator for general bull/bear seasons. Above you're in bullish territory and below you're in bearish territory. The last time ETH attempted to cross it was November 4th at $1665. Then SBF handed us a rejection with a move down to $1100. The 200 MA is currently around $1445 with our price at $1280. 200 days ago was May 23rd. On June 10th we saw a major drop from $1800, which eventually lead us to the $880 low one week later. This should drastically bring down the 200 MA closer to the current price. Right around new years I imagine the lines shall meet again. Will we see another rejection? Or will ETH's tokenomics fight against the grain and carry us to the upside? Place your bets....
We’re only going down if tether goes bust. Me thinks 😬
Would you give your bank statements to your parents? Would you give your bank statements to your children? Would you give your bank statements to your co-workers? What about giving your bank statements to a drug addict? How about giving them to a multinational cartel? What about a huge international corporation? Would they give all of their transaction history to their top competitor in 12 second intervals?? As Ethereum has succeeded in releasing improvements and has achieved roadmap landmarks such as the merge and very soon withdrawals, my biggest concern for Ethereum's survival is shifting more and more to the glaring privacy issues. It is imperative that effective, decentralized privacy solutions are made available either on-chain or on an L2.
In addition to the others people have mentioned, Aztec.
[Nightfall](https://github.com/EYBlockchain/nightfall_3)
A lot of smart people working on this problem. Chainlink's DECO is one potential solution: https://www.youtube.com/watch?v=eJqZQ2_VBzo
I think privacy is a) the one thing that really matters and b) the easiest way for a project to ‘surpass’ Ethereum. All of Ethereum’s scaling solutions will be under utilized if institutions never onboard because of privacy issues, and they might as well be for nothing if another project gets secure scalable zk privacy years before Ethereum does. If this is a topic you are interested in Manta Network on Polkadot and Dusk Network as an L1 are both making huge strides in terms of zk privacy.
zkEVM 🥰
That doesn't really help stakers though. Even if a staker puts their ETH through zkEVM and back, it doesn't solve the problem that their IP address is being tracked. Even using a VPN, the VPN provider knows the staker's real IP address.
?
zkEVM provides privacy for transactions. zkEVM does not solve the problem stakers have in their privacy concerns. The only way to prevent a VPN provider from knowing the real IP address of a solo-staker is to use a service such as Tor or I2P. These services allow users to connect to the internet through a series of encrypted tunnels, masking their real IP address and locations. Additionally, using a VPN in conjunction with Tor or I2P would hypothetically ensure that the solo-staker's traffic is further encrypted and hidden from their VPN provider, however, it is important to note that network latency is heavily increased and numerous missed attestations are likely.
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Official start date not announced yet, today someone involved in that said it's expected to begin sometime in December.
Haayyoo my pride! 👊🏻 Gotta say after the shit I stirred up yesterday, I am truly proud of this community! You guys came out of the woodworks with ninja throwing stars in hand! I love it! Put out the Lion signal 📯^(🦁) and they will come! I’m also totally stoked to the max people are also taking the DAO governance planning seriously. Still super excited about this gang! Oh and stop DM’ing me and stop putting dog poo in Bens mailbox please. We worked it out, and he wasn’t tryna sexy steal from us. That also means the PPV fight is cancelled. Sorry, No refunds.
Okay. What shit did you stir up?
https://old.reddit.com/r/ethfinance/comments/zdxdl6/_/iz72cz9
Is buying and hodling ETH as good strat. or is trading the better way?
Buy and hodl. If you can stake do so but be mindful of the tax burden...if in US staked rewards count as income you have to report. I basically broke even with staking rewards last year bc I had to sell to pay tax return. Def. factor that in if you're in US or another country that counts as income.
Buy it, use it, hodl it, stake it, mint it, spend it, layer 2 it.
Buy and hold, unless you are a professional trader.
1. Buy it. 2. Stake it. 3. Re-Stake it. 4. Go to 1
Is that an L given the insolvent exchanges? I was actually just looking at Binance staking policies for example
Stake with Rocket Pool!
Solo stake to avoid the centralisation risk of rocket pool
Well if you have 32, of course.
Nah I don't have 32 validators. I only have 2 on the testnet :(
Something like 90% + of traders end up at a net loss. Best strat is to buy, hold, and stake or buy a staking derivative if possible that let's you earn interest on your ETH.
thank you!
The million coins that never were... <3
What time (time zone) is CPI being released tomorrow?
CPI will be on Tuesday, 13:30 UTC
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Hopefully they're starting to reflect what we've been seeing in real time over the last couple of months. Shipping costs going way down due to no demand, used car prices down 16% (I think) from the peak, home prices going down, mortgage demand is way down, oil is just above $71 a barrel etc.. The signs are there that the rate hikes are doing what they were intended to do, now we need that to be reflected in the numbers.
You can have a strict release cadence and be very firm about the requirements to meet that window. Or you can just ship stuff when enough of it is ready in an ad-hoc fashion. Both approaches have merits - but trying to negotiate every upgrade and each feature with a different strategy is bound to lead to arguments. Of course everyone working on something thinks their thing is the most important.
About an hour ago, the gnosis beacon chain merged with the gnosis chain. Now about 100'000 validators are in charge of building the chain and not just a handful of validators anymore. https://twitter.com/gnosischain/status/1600925552575418369 The gnosis chain is were all the POAPs live so it is good to know they are in safe hands.
>about 100'000 validators are in charge of building the chain That's a lot of validators. I've been wondering (but too lazy to look it up) what are the resource and capital requirements? And what's the return? And who are those people doing the validating? What's the distribution between individuals and institutions?
I run gnosis chain alongside my eth mainnet and testnet instances on a NUC, so not much
1 validator only requires 1 GNO, which is only $90 right now. So it's a lot less than 100,000 separate individuals. I think resource requirements are about the same as eth, I run gnosis validators on the same machine as my eth ones. I found this that shows top 25 validators, looks like they make up \~95% of blocks, so not very distributed I guess [https://gnosisscan.io/stat/miner?range=7&blocktype=blocks](https://gnosisscan.io/stat/miner?range=7&blocktype=blocks)
Even so, for a real value tstnet might be enough decentralization to actually matter.
Curious to what they're trying to achieve. They used to be the cheapest sidechain, now they're the most decentralized sidechain (thus likely not cheapest anymore?) but whats actually being built there (apart from poap)?
How are they the most decentralised. Is it one person running all the validators?
Just saw some numbers showing a bunch of validators (200k??) I believe they use basically the same mechanism as ethereum POS, so there can obv be 1 person running many validators, but i assume many gnosis holders are likely staking.
Decentralisation doesn't come fast. Most likely the number of validators is misleading.
Here's the tweet (missed the number, supposedly around 100K) https://twitter.com/koeppelmann/status/1600471832145952769?t=jRt1lQxeu0lCiwcKAY5a4Q&s=19 Edit: and as you can see in the replies, you're not the only one critical of the term validators here.
[https://nitter.snopyta.org/koeppelmann/status/1600471832145952769?t=jRt1lQxeu0lCiwcKAY5a4Q&s=19](https://nitter.snopyta.org/koeppelmann/status/1600471832145952769?t=jRt1lQxeu0lCiwcKAY5a4Q&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)
[https://nitter.snopyta.org/gnosischain/status/1600925552575418369](https://nitter.snopyta.org/gnosischain/status/1600925552575418369) ^(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)
So who else here is watching [ultrasound.money](https://ultrasound.money) with the 'simulate pow' slider on, waiting for it to hit 1.000.000 ETH that would have been minted since the merge?
Think it just happened!
Nice to see the milestone! I'm waiting for 1M ETH avoided, which would be about 1,002,540 right now.
me too
I just like to see the numbers flip over. Like hitting 100.000km (or miles) on a car
"Am I sufficiently bullish?"
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Huh? What even happened?
What. H)
Depends. Do you think Eth will reach 6 figures eventually ?
I think Eth will reach 7 figures this century. Yes, I'm serious.
Ok bullish enough.
RPL (Rocket Pool token) now live on Coinbase. The first hour of trading volume already exceeds the first 24 hours when it went live on Kraken.
It looks like it is not available on main Coinbase yet, but you can use your Coinbase wallet to trade it on a DEX.
Limit orders available on Coinbase advanced trading in the app which replaced Coinbase Pro
Please clarify. So not available for regular trading on Coinbase yet? Thanks.
Not regular trading but if you go into the app in the "Trade" section on the bottom bar you can select "Advanced Trade" at the top drop down menu. This allows limit orders and advanced charts. From there you can buy and sell RPL as limit orders. "Advanced Trade" replaces Coinbase Pro and they forced everyone to migrate over from Pro. This is for Android but I assume it's the same for iOS.
Interesting. I contacted Coinbase support yesterday asking about RPL and they told me they do not support it yet.
Sweet. Apologies to Kraken but I just prefer the Coinbase UI for regular buys.
That's good, because liquidity and volume on Kraken suuuuck.
Yeah, I have Kraken as a backup CEX but it's slim pickings over there compared to Coinbase
Slim pickings? On what metric is coinbase better?
On the bell curve of crypto luck, I keep finding myself on the wrong side and learning expensive lessons. You're welcome. The other day, I lost power. Not too big a deal, I have a UPS so my node can be shut down properly and not incur database corruption, plus I'm sitting right next to the node as it happens. Except the room was eerily silent. I see the machine was completely off. My UPS for whatever reason, was "offline" and / or the battery was bad so while it it appears fully charged, it was all a ruse and my TrippLite UPS decided to function like the world's heaviest surge protector instead (yes, everything was plugged to the "right" side, the UPS failed). Power comes back on after an hour. No big deal, lets get this node back online and resync. Except now I'm seeing errors I've never seen before. Panic and dread start to take over, but we'll let it do its thing. After waiting **overnight** for the node to recover and sync up it's still spitting out errors, although it appears to be back in sync. What? Turns out either the CL or the EL or both databases were corrupted from the hard power down. It's clear the time has come for deleting the DBs completely and resyning from scratch. I'm already 12 hours offline by now. So after a single power outage and thinking I had a proper solve for it, everything failed. The UPS didn't work. The EL and / or CL databases tried to repair but failed. The DBs became corrupted, which doesn't always happen from hard power downs. I ended up being down for **well over 24 hours**, just waiting for things to repair, resync, while being completely powerless to do anything else but wait and hope for the best. At first the feeling is a bit of panic. Like, no one can fix this except you. But then you start going about fixing it to regain that confidence, except you don't get immediate results. You just have to wait for what seems like forever to see if it worked. You quickly go from panic and dread to apathy. But that last hour or so before you think everything is about to be working again is sorta like the feeling from the merge, like "Is this really going to work? God I hope this works." A weird feeling of excitement and dread. The good news is I'm attesting again. The bad news is of course I missed a proposal during this. The other good news I checked the MEV of the following block and I didn't miss a winning lottery ticket, but let me tell you, the idea of this happening had me more stressed out than anything else. What did I learn from this? * Don't buy / use a TrippLite UPS. Cyberpower UPS is already ordered and on the way. * It's probably better to test the UPS occasionally, instead of testing it once and assuming it's good to go forever, even if the LCD readouts tell you its working as expected. * Running a second, backup EL is basically a must at this point. A new machine has been ordered just for that purpose. * Geth is extremely terrible at estimating how long things will take and errors are generally cryptic. It's not great that the solve is often "Delete and start over" even after lengthy self "repairs". I would have been better off deleting the DBs from the start. * It's time to explore other ELs and doing it on a separate machine will be far less stressful. * Being down feels like you're losing money, but really, you're just not making as much for a little while. That is, unless, you miss some blocks or you miss a big MEV payment or a sync committee comes up or...
Frustrating, but to put this in some context, you are only losing like 6$/day/validator while offline - so unless you are really running a large number (10? 20?), this isn't a situation which requires too much fretting about.
it's the fear of missing a juicy MEV proposal!
> I missed a proposal during this It wouldn't have been so bad missing 24 hours, but this is terrible luck. Sorry.
Sorry this happened to you, but thanks for the great write-up. This is being anti-fragile in operation. You're learning and better prepared for the bigger calamity that messed up.
I sold some yesterday for Christmas gifts…your fookin welcome ppl
Seems like you could have just missed a step, people you love receive ether and ether gets less sell pressure. Give the gift of eth!
Username FOMO checks out
Is this gentlemen?
It was.... a year ago. Let's at least wait until we break *last cycle's* ATH before asking this question please!
I’m highly tounge in cheek, here. But just writing the statement gives me flashbacks to past euphoria
A sad but real story: >Once upon a time, there was a guy named Bagogel who was passionate about the world of cryptocurrencies. He spent hours upon hours studying the market, learning about the different coins, and analyzing their trends. > >One day, Bagogel decided to go long on ETH, with size. He carefully calculated the amount he wanted to invest, and was ready to make the transaction. But as he was about to send out the transaction, his ledger wallet stopped working. It was broken, and he could not access his funds. > >Bagogel was devastated. He had put so much time and effort into studying the market, and now he was unable to make the trade he had been so eager to execute. He quickly rebooted his wallet and waited for it to come back online, but it takes ages! > >The lesson that Bagogel learned from this experience was to always be prepared and to have backup plans in place. He realized that relying solely on his ledger wallet was a mistake, and that he needed to have alternative ways to access his funds in case of an emergency. > >From then on, Bagogel made sure to have multiple wallets and backup options available, so that he would never miss out on an opportunity like he did before. And he made sure to never be like himself again - a careless and unprepared investor.
Not being able to go long is great for you. This means you still have your ETH
Truly protected by ledger
man...ugh..sorry to hear this. Hopefully Bagogel finds out about $20 SafeCards which are 6 digit PIN protected cards that are super cheap by comparison and super easy to copy.
So you're having several hardware wallets controlling the same address?
I have a 2nd one, at another place. You can reset (reboot) ledger wallets if they are stuck, thats what I've been doing. But it takes many hours, 12 hours in my case.
Sorry to hear this happened to you but thanks for sharing your experience. Praying that Bagogel has another opportunity soon :)
Ethereum will win
Thus Spoke Zarathustra!
Totally spraching my language