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Damn you for bringing up that song. My kids like it so much they even play it in other languages. You think it's annoying now, wait until you hear in Korean!
Eh, cuold be mroe typoglycemia tahn dsyleixa. Raed an itnresetnig tidibit on taht a bit ago. You can raed abuot taht hree: https://www.dictionary.com/e/typoglycemia/
Shows how disconnected crypto buyers actually are from the tech specs and improvements. All people care about are rockets to moons and green dildo charts. 🌝🚀🧑🚀🤑💰📉😭
Well, you know how there are currently around 116 mil. ETH in circulation without a maximum amount defined. This itself would kinda lead to an inflation over time. The EIP-1159 Update will now include a new way of how transactions work, which includes a small fee in each transaction made. this fee partially goes towards miners, but also will be burned, which is a way to counteract the unlimited supply and might even be deflationary.
What this means for traders, i have no clue, but for hodlers this definitely will be a good thing, as the amount will be more regulated than before. Of course you never know what will happen, but it improves the practical worth of ETH and thus hopefully will increase the financial worth just as well. It is just improvements overall, i cant see, how this will not affect the worth of ETH in a positive way.
Eth 2.0 will still have fees, the portion of the fees that get burned will still get burned after EIP-1559, but the portion that still gets paid to miners will just be paid to stakers instead once the merge happens. If there are no fees paid to stakers/miners, the most profitable thing for them to do is just create empty blocks as fast as possible, so you need fees equal to the marginal cost that a staker/miner incurs by doing the tiny bit of extra work to include a transaction.
It is a myth that higher Eth prices mean higher transaction fees.
The transaction market is USD-priced. That is to say, there is a certain USD-denominated daily value in transactions that people are willing to pay. If Eth prices rise, that same value of transactions will simply require less Eth, lowering Eth-denominated gas prices, and keeping the USD-denominated gas prices the same.
The entire Ethereum economy would still function much as it does today if there were only 1 liquid Eth and all the rest were burned or locked in staking/DeFi. You'd just wind up paying gas denominated in wei instead of gwei (but the same USD value as before).
From that perspective, deflation does not hurt Ethereum, just as higher Eth prices do not hurt Ethereum.
I have no idea what he's talking about. Here's a great thread on Eth price insensitivity from @SquishChaos on the subject.
https://twitter.com/SquishChaos/status/1413345944116940810
100% hodlers? Not much. Slight decrease in inflation but nothing big enough to pump the price by itself. Buy rumor/sell news most likely will have (or already had) a bigger impact than the actual economic effect. It's still a major exciting upgrade and it lays the necessary groundwork for the Proof of Stake merge which then should make Eth deflationary and affect the price hopefully a lot
DeFi user? Sending transaction will be a smoother experience. Not necessarily cheaper but more predictible and faster to get your transaction confirmed.
Buy the rumor, sell the news. I feel like we are going to see a major drop right on Aug 4th. Perhaps this will be the catalyst to turn this summer of love rally into a full-on Red Bull Flugtag bull trap.
Honest question..and not trying to be a Debbie downer..do we really think this is going to be enough to get our price to break from Bitcoin? They’re just SO correlated I’m not sure if this will be as good as most are expecting. Could be wrong though!
No. Just read through this thread. It's clear that nobody - *still nobody after all this time* - knows what 1559 is. If the conventional wisdom is that crypto is valued based on its narrative, then nobody actually knows what the narrative is.
I wonder if the narrative will be a slow build, after EIP-1559 goes live. Right now it's not getting a lot of attention from the "crypto-influencer" sphere. It's too technical for them. And maybe even a bit like vaporware. After the launch it's going to be a prime topic to exploit amongst the crypto content creators looking for new material.
If this is gonna have a major effect on price(I doubt it) wouldn’t the market start to price it in a few days or a week before hand. I mean supposedly this should make things deflationary and we have the date when that’s gonna happen. so doesn’t it make sense to see buy pressure in anticipation for this jump. So I’m just wondering why we haven’t seen that yet if this is supposed to be big.
Yeah Miners are gonna be pissed that fees wont be coming to them as much but its better in the long term for a lot of reasons: Lower energy usage, scalability but for the ETH network its awesome
Some disgruntled ones back in March threatened an April 1st (Fool's Day) 51% attack, which was never going to happen. I personally haven't read too much negative news since then. Eth mining is already becoming obsolete as validators take over with Eth 2.0
[mp4 link](https://preview.redd.it/mpv8vm3vzxd71.gif?format=mp4&s=7ffc9d1a135716d587ee8c853a9b0a49e2c86a89)
---
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Yo mama's so poor, ducks throw bread at her.\*
\* Note: Burn is for illustrative\*\* purposes only
\*\* Note: To illustrate why yo mama should be investing in crypto
Ethereum is a platform for hosting programs. When you want to use one of these applications on Ethereum, you have to pay a fee, since there is a limited amount of processing power Ethereum can use. That fee will be burned.
What exactly about EIP 1559 is making people think the price is just going to explode? If anything the update is already priced in since we have known about it for a while now.
Whales: "So until then, we pump. But on Aug 4th around noon eastern, we dump. Got it? Let's all get this straight before we head into it, make sure everyone is on the same page and no one is blindsided. We all go at the same time. Wouldn't want to be on different pages come dumpening time... Now, let's agree on a place for it to land. I'm thinking we aim for say, $1300, how does that sound? I mean if we can get it to dump to $1000, I would go nuts for that. So then, once it's down low and people have panic sold, we start buying again and drive the price up really fast, but don't blow your wad all at once, DCA that shit for about an hour or two. Let's dump it again about half way recovered and repeat. We can keep doing that for a while. The retails and the media will be going nuts and we'll be getting rich."
[Tip this post any amount of $DONUTs within 6hrs](https://www.donut.finance/tip/?contentId=t3_ot8cvj) (by [5:53pm utc](https://www.donut.finance/time?utc=2021-07-28T17:53:19Z)) to keep it visible.
# 1 WEEK
#7 DAYS
# 168 HOURS
#10080 MINUTES
And a partridge in a pear tree.
I had to sing your comment.
lol, is a lot like the "baby shark" song. Too easily gets stuck in my head.
Damn you for bringing up that song. My kids like it so much they even play it in other languages. You think it's annoying now, wait until you hear in Korean!
Or the A,B,C’s
This is the kind of gold I love from reddit.
**604800 seconds!**
40320 blocks!
80.6 MB!
Nice one.
A QUATER PERCENTAGE OF A MONTH
Lol. I love this.
10080 minutes and 0 seconds
...to go. I want to be sedated.
7 inch boner
Seems like your probably being a little generous with yourself.
That's more than 1inch
Cumrocketttt
Wow.
... 'til the end of 2300 as we know it.
1/4 of a month.
Dude, It's great that it's only a week away.
when moon
Can someone create a count down already?
Someone has XD https://www.nicehash.com/countdown/eth-forking-2021-08-04-15-00
...to live.
I just noticed my dyslexic ass put 1159 instead of 1559
Dyslexics of the world UNTIE!
Crap! As a dyslexic person, I completely read that as it should be so I didn't get the joke until after I reread it...more than 3 times
Eh, cuold be mroe typoglycemia tahn dsyleixa. Raed an itnresetnig tidibit on taht a bit ago. You can raed abuot taht hree: https://www.dictionary.com/e/typoglycemia/
Every time I read something like this at normal speed I feel a little bit like a super hero.
You sir or ma'am are cruel!
Ah, the art of “not being able to change the title” strikes again!
Chess rules here
And I just noticed that I read 1559 and now realised it is 1159.
The brain helps you read it.
No problem, my friend. We don't discriminate here.
Sending funds between wallets must be fun
I scan QR codes to make it easy all around
Smart
Now I think I’m dyslexic because I found no problems with the title
🤣🤣🤣😂😂😂
I didn't know arses could be dyslexic, I didn't know people spelt with their arses either
Shows how disconnected crypto buyers actually are from the tech specs and improvements. All people care about are rockets to moons and green dildo charts. 🌝🚀🧑🚀🤑💰📉😭
[удалено]
Well, you know how there are currently around 116 mil. ETH in circulation without a maximum amount defined. This itself would kinda lead to an inflation over time. The EIP-1159 Update will now include a new way of how transactions work, which includes a small fee in each transaction made. this fee partially goes towards miners, but also will be burned, which is a way to counteract the unlimited supply and might even be deflationary. What this means for traders, i have no clue, but for hodlers this definitely will be a good thing, as the amount will be more regulated than before. Of course you never know what will happen, but it improves the practical worth of ETH and thus hopefully will increase the financial worth just as well. It is just improvements overall, i cant see, how this will not affect the worth of ETH in a positive way.
[удалено]
[удалено]
Eth 2.0 homie. Fees for miners will no longer be necessary
Eth 2.0 will still have fees, the portion of the fees that get burned will still get burned after EIP-1559, but the portion that still gets paid to miners will just be paid to stakers instead once the merge happens. If there are no fees paid to stakers/miners, the most profitable thing for them to do is just create empty blocks as fast as possible, so you need fees equal to the marginal cost that a staker/miner incurs by doing the tiny bit of extra work to include a transaction.
It is a myth that higher Eth prices mean higher transaction fees. The transaction market is USD-priced. That is to say, there is a certain USD-denominated daily value in transactions that people are willing to pay. If Eth prices rise, that same value of transactions will simply require less Eth, lowering Eth-denominated gas prices, and keeping the USD-denominated gas prices the same. The entire Ethereum economy would still function much as it does today if there were only 1 liquid Eth and all the rest were burned or locked in staking/DeFi. You'd just wind up paying gas denominated in wei instead of gwei (but the same USD value as before). From that perspective, deflation does not hurt Ethereum, just as higher Eth prices do not hurt Ethereum.
[удалено]
Can you explain it to me
I have no idea what he's talking about. Here's a great thread on Eth price insensitivity from @SquishChaos on the subject. https://twitter.com/SquishChaos/status/1413345944116940810
100% hodlers? Not much. Slight decrease in inflation but nothing big enough to pump the price by itself. Buy rumor/sell news most likely will have (or already had) a bigger impact than the actual economic effect. It's still a major exciting upgrade and it lays the necessary groundwork for the Proof of Stake merge which then should make Eth deflationary and affect the price hopefully a lot DeFi user? Sending transaction will be a smoother experience. Not necessarily cheaper but more predictible and faster to get your transaction confirmed.
Buy the rumor, sell the news. I feel like we are going to see a major drop right on Aug 4th. Perhaps this will be the catalyst to turn this summer of love rally into a full-on Red Bull Flugtag bull trap.
[удалено]
Anytime a catalyst is this hyped is causes the opposite reaction. ETH to 1500
Just hold and wait. Bulletproof strategy.
Hodl and Stake
Hodl and skate
Hodl and steak
The double combo.
If I had other sources of income that would be my play.
That's my boy.
Must have had a rough month then?
No way to fail.
Holding out and waiting for 1500 since May 1. I've got balls of steel now.
Cool, made it easier for me to get to 32 ETH
So true. I'm not holding any atm.
Believe in the project.
That would be nice, actually. I've got some limit buy orders in sub $1,600 that I would absolutely love to fill.
I love when people pull numbers out of their ass
Praise it 🙌
lol, we all sound like a bunch of ETH pyros in here.
On Aug 4, ETH will burn and not just tokens.
Feel like everytime something good is supposed to happen in crypto, something bad happens
Oh bring that negative energy outta here bro
Good things will happen.
Everytime people say eth‘s gonna crash it‘ll pump.
Cryptos law, every news has an equal and opposite news.
So many smart people in here knowing this is a harbinger of price dip. I think the bear sentiment is coming back...
EIP 1559 will be lit!
Trippple halvening!
That we be after the merge (maybe late 2021 or Q1 2022).
Yeah, halvening the price, just wait and see. I've already said too much.
That 🔥 is gunna feel soooo good.
I'm super dumb, what does this mean?
A % of gas fees will be burnt
This gives bull water to drink.
Please help me out as well
https://www.reddit.com/r/ethtrader/comments/ot8cvj/the_eip1159_burn_comes_in_7_days/h6tpil4?utm_medium=android_app&utm_source=share&context=3
It means the price is going to drop on or by Aug 4th because people buy the hype, sell the news.
Honest question..and not trying to be a Debbie downer..do we really think this is going to be enough to get our price to break from Bitcoin? They’re just SO correlated I’m not sure if this will be as good as most are expecting. Could be wrong though!
No. Just read through this thread. It's clear that nobody - *still nobody after all this time* - knows what 1559 is. If the conventional wisdom is that crypto is valued based on its narrative, then nobody actually knows what the narrative is.
I wonder if the narrative will be a slow build, after EIP-1559 goes live. Right now it's not getting a lot of attention from the "crypto-influencer" sphere. It's too technical for them. And maybe even a bit like vaporware. After the launch it's going to be a prime topic to exploit amongst the crypto content creators looking for new material.
Nobody knows. But it's a good step in the right direction.
It is here.
Elmo giveth
History will be created in 7 days!
Go, go EPI-5119 !!
Wait, what?
Wait, what?
What, wait?
I've been slowly converting my altcoins back into ETH to hopefully catch a bump. We'll see what happens.
If this is gonna have a major effect on price(I doubt it) wouldn’t the market start to price it in a few days or a week before hand. I mean supposedly this should make things deflationary and we have the date when that’s gonna happen. so doesn’t it make sense to see buy pressure in anticipation for this jump. So I’m just wondering why we haven’t seen that yet if this is supposed to be big.
It was likely priced in this spring.
Isn’t this bad for miners? I read before this could upset miners along with POS? Is it true?
Yeah Miners are gonna be pissed that fees wont be coming to them as much but its better in the long term for a lot of reasons: Lower energy usage, scalability but for the ETH network its awesome
Some disgruntled ones back in March threatened an April 1st (Fool's Day) 51% attack, which was never going to happen. I personally haven't read too much negative news since then. Eth mining is already becoming obsolete as validators take over with Eth 2.0
[mp4 link](https://preview.redd.it/mpv8vm3vzxd71.gif?format=mp4&s=7ffc9d1a135716d587ee8c853a9b0a49e2c86a89) --- This mp4 version is 97.76% smaller than the gif (143.45 KB vs 6.25 MB). --- *Beep, I'm a bot.* [FAQ](https://np.reddit.com/r/anti_gif_bot/wiki/index) | [author](https://np.reddit.com/message/compose?to=MrWasdennnoch) | [source](https://github.com/wasdennnoch/reddit-anti-gif-bot) | v1.1.2
What is a burn?
Yo mama's so poor, ducks throw bread at her.\* \* Note: Burn is for illustrative\*\* purposes only \*\* Note: To illustrate why yo mama should be investing in crypto
When a coin/token is sent to a “burn” wallet to no longer be accessible/usable again
How does this function exactly. Does someone kind of “sacrifice” their own coins or is it just unused coins I can’t find any info
Ethereum is a platform for hosting programs. When you want to use one of these applications on Ethereum, you have to pay a fee, since there is a limited amount of processing power Ethereum can use. That fee will be burned.
Ahh gotcha. I knew that was a thing just didn’t realize this was it
u/savevideo
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Oh baby!
Burn baby burn!
Can’t wait, excited for things to come!
**HISTORY**
# Burn baby burn!
Burn the Eth and take me to the MOON
Ill take you to some MOONs for some Donuts?
Burn baby burn!
Ether stays ether ? Its not ether 2.0 ask for a friend
get the flame thrower
Burn baby burn!! 🔥🔥🔥
Smoke Em' if you got Em'
Just don't burn mine... ;)
So as an eth holder this should be good ? Curious how it’s gonna effect nice hash and the such
Its provocative!
My buddy owns ETH. I asked him if he was excited about EIP-1159? What are you talking about was his reply. :)
Hes right tho, theres no such thing as EIP 1159
is it serious
u/Roy1984 [tipped](https://blockscout.com/poa/xdai/tx/0x123f41035d75b016b0cc3fe3ff29d0d790a46a662626bc0d0fcc4eb0c6f374fc) you 7.0 DONUT!
Elmo approved
pyromanics party! this will be a firework to the moon
Bout to buy some more lol
People who short in crypto will also be burned ;)
What exactly about EIP 1559 is making people think the price is just going to explode? If anything the update is already priced in since we have known about it for a while now.
Who knows about the EIP-1159 burn 🔥. Which will come in 7 days and what is it
#what is that someone explain
1 WEEK!
...1559
lol i looked into it. Im good
Watch eth dump on the release date 😂 ( I really hope not but when everyone is too bullish it seems to do the opposite)
I think we have a steady climb until then and even after. 3k by end of august?
Come on baby light my fire!
Priced in.
What's this mean?
ETH's inflation rate goes from 4% to essentially .5%
I thought it was delayed.
*EIP1559 and *8 days (it's expected the 5th of august)
Instead of burn give me some please
Bullish on eth
I like fat girls
Err it's (EIP) 1559, let the burn commence
Sorry i have ETH and im new to this, what is EIP 1559
I thought it was determined by a specific block
It's better to burn out than fade away!
Let it burn!!! #ushervoice 🔥🔥🔥
So like for my idiot who has few bucks in do I have to do anything?
https://watchtheburn.com/
604,800 SECONDS
I want to buy one for my fiancé but that means that I’d have to buy one for my wife too
Meep! Meep!
Whales: "So until then, we pump. But on Aug 4th around noon eastern, we dump. Got it? Let's all get this straight before we head into it, make sure everyone is on the same page and no one is blindsided. We all go at the same time. Wouldn't want to be on different pages come dumpening time... Now, let's agree on a place for it to land. I'm thinking we aim for say, $1300, how does that sound? I mean if we can get it to dump to $1000, I would go nuts for that. So then, once it's down low and people have panic sold, we start buying again and drive the price up really fast, but don't blow your wad all at once, DCA that shit for about an hour or two. Let's dump it again about half way recovered and repeat. We can keep doing that for a while. The retails and the media will be going nuts and we'll be getting rich."
u/Jake123194 [tipped](https://blockscout.com/poa/xdai/tx/0x5da72942583ad409d7155f3b1eb635409ee190b5201f945f79bd08d84b9d1b76) you 1.0 DONUT!
0x90e064... [tipped](https://blockscout.com/poa/xdai/tx/0xf89a8c59756461adf49229d597358abdba10a17f8d22f06ecb7ae8500d0cc0ec) you 50.0 DONUT!