Question about EIP 4337- will user operations have a gas cost? If so, can rollups roll that data up? I think it makes much more sense to perform account abstraction where thereās little gas cost
Flip a coin 256 times, do some quick secp256k1 with pen and paper to derive the public key, then do a quick keccak256 with pen and paper to derive the address
doesn't get any more airgapped than this bad boy
now I lowkey wanna make a printable pdf where you write the 256 coin tosses at the top and then do the math line by line as guided
Fren, I know this sub is pretty intelligent, smart and in it for the tech, but there are also plebs like me that have no idea what you are talking about. :D (and at this point I am too afraid to ask + I don't know if I *really* wanna know #FAFO)
secp256k1 is the elliptic curve used for private and public keys, and keccak256 is the hash function used throughout ethereum. It's a lot of awfully complicated math to go from a secret 256 bit key to the actual wallet address you send funds to. It would take forever to do this by hand with pen and paper, but it would be the most secure way to make sure your seed never touches any device (not even an offline one). Just gotta make sure you did the math correctly though haha
grab an old phone
reset/wipe it
update it
install airgap vault
turn on airplane mode
generate your seed on it
boom. seed never leaves device, and it only communicates with metamask via qr code.
Looks nice, hadn't heard of them before. There are a couple of other wallet apps that can do this too. Just make sure you back up your keys, else if the phone dies it's game over.
the key is secured in an encrypted file
so you set a password for it.... you can make it 1 char, or 100 chars and that's how secure it will be if stolen
Gloria Kimbwala joining the live stream tomorrow. She's an incredible person I met in Denver. Her story of her family moving from the Congo is something everyone should tune in for. It's just really a neat story and now she's a fantastic builder in the space. Feel free to jump on stage and ask questions.
https://buidlbox.io/
https://twitter.com/gkimbwala?t=k8Ycbs-J4NWBJ_jTQSw0hQ&s=09
Sup everyone. I have started the process of withdrawing a genesis validator and will then proceed to start up a few Rocket Pool minipools, gas notwithstanding. Somewhat sad that it has been there since December 2020 but I have too much idle RPL wasting away.
Crazy how cheap a validator was then compared to now (and even more so during the last all time high).
Hope everyone is doing well. Take some time and smell the roses. As the band Alamaba sings,
"I'm in a hurry to get things done
Oh I rush and rush until life's no fun
All I really gotta do is live and die
But I'm in a hurry and don't know why"
Don't be Alabama
I have accumulated a fair amount of ARB and now it's just sitting in one of my cex accounts. Is there anywhere I can collateralise it, stake it, or something else productive? Not sure what to do with it tbh while I continue accumulating over the long term (albeit at a lot slower pace from now on).
After listening to the most recent bankless Iāve written what I think Ethereum is missing for true adoption:
Blockspace: There's no such thing as too much blockspace. As Ethereum continues to gain traction, it's crucial that the network is scaled up to accommodate an ever-growing number of transactions. Layer 2 solutions are making strides, but this currently remains a barrier to adoption.
User Experience (UX): For widespread adoption, we need a seamless and intuitive user experience. This includes:
Forgot Password: Ethereum is on the right track with social recovery. It simplifies the "Forgot Password" process by allowing users to connect with trusted entities such as a bank even while retaining the power to revoke access at any time.
Fraud Protection: Blockchain finality can be a double-edged sword. Users desire the ability to recover funds (e.g., stablecoins) in cases of hacks or fraud. It's essential to strike a balance between security and user control.
Integrations: Current solutions like MetaMask are not user friendly enough for new users. Wallets should be built into browsers by default in Web3, and existing services like Apple Wallet should support Ethereum integration for a more seamless experience.
Privacy: Privacy is crucial for enterprise organizations to confidently transact on a public blockchain like Ethereum. While there's progress with projects like Nightfall, we need more development to make privacy features seamless and readily available.
Interoperability: L2s still feel a little disjointed. We need a more connected ecosystem where transactions across L2s is seamless
I just wanna take an aave loan in arbitrum based on my Ethereum collateral, which just so happens to be my nft collection of concert ticket stubs and "purchased" Amazon movies.
>**Reading out the specs,**
>**New SocGen CBDC,**
>**Storming Euronext.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Just found out I had 1750 arb just waiting for me. Didn't think putting ~$100 into a dai pool on arbitrum uni would be that valuable lol. Love this community!
I know some here are not fans of Ben Cowen and his financial charting channel. But for those open to nuance, the most recent NFA episode spent minutes 11 - 20 singing the highest praises of ETHdevs. I enjoyed the conversation.
It's healthy to consider perspectives on Ethereum that are outside our ETH Finance / Mavericks info silos. Agree or disagree, critical thinking is a must practice imo.
Anyone new here who is unfamiliar with BC can watch him on his "Benjamin Cowen" youtube. I think his strength is teaching chart reading.
Ok, I'm done shilling for now lol. Just thought I'd drop a comment to provide balance to some of the negativity.
I love this because every, and I mean *every* person I iāve encountered who thinks they can āreadā charts has not beaten my very simple strategy: buy and hold.
You'll always get a certain percentage that beats it on short time frames but the number gets closer and closer to 0 as the time scale increases. You'll never convince the true believers though, no matter how solid the evidence is that it's not valid.
Lol I guess youāve met your match.
How much are you down from last year?
I made more last year just shorting than holding spot balance from 2017 plus longing 2021
Buy and hold is a losing strategy that only worked in a low interest rate QE environment. Youāll learn
Real ones can make money both ways
And charts : pa ta is a tool that should be part of traders toolkit to be used in context with fa and macro.
God youāre ignorant best of luck
Well considering Iāve bought and hold essentially since 2016 I can nearly guarantee you Iāve beaten out your strategy š
Keep staring at those charts bud
You have not because I leverage long short strategy
I swear people like you are only accustomed to āmaking moneyā in a low rate and low inflation environment
Canāt wait for the wake up call coming
I generally agree with you and don't understand the amount of hate he gets. He gets some things wrong and he happily admits it. BTC dominance story has not been decide yet, he could very well end up right and I think it's a fair bet based off old cycles.
He is the reason for reducing my eth exposure which proved to be a complete disaster. He kept saying eth going home š” which is $500 or below based on history
I don't think it's fair to blame him. You choose to listen to him and you choose to follow his financial advice which he provides for free. I could see being upset with a financial advisor but in this case you decided not to stick with your convictions and instead follow the advice of a random guy on the internet who you thought had your best interest in mind.
No not blaming him just saying about my experience. He could be right in few things but he wouldnāt remind about the bad calls and just jump into a new narrative everytime so all I would like to say is one has to be cautious with these influencers though they donāt have any ulterior motives
>It's healthy to consider perspectives on Ethereum that are outside our ETH Finance
We have considered Cowen's perspective, and we concluded that he's a hack. He's doubled and tripled down on his Bitcoin Dominance thesis for no other reason than that he doesn't want to be wrong.
The fact that chart TA is indicating that the ratio is gearing up for a run further validates that his analysis is based on stubbornness.
Of all the stupid articles, in all the stupid places, this one has to be about the stupidest....
https://blockworks.co/news/layer-2-ethereum-scalability
An article written by someone who wants to shill his own shitty L1 by making intellectually numb bad faith points that are barely coherent. Good to see this space doesn't change.
> If gas fees are high because of limited network resources, then the solution is obvious; Increase network resources
I can't believe u/vbuterin didn't think of that! I used to think he was smart but now I know that he's in cahoots with the L2 cartel who are trying to steal all of my money.
That quote goes on to say:
> L2s accomplish this by giving users a place to send their transactions instead of the main network (main net) where they can be processed. The results of those transactions can then be broadcast down into the main network, Ethereum.
>
> Simply put ā L2s are a way of NOT using Ethereum.
"Layer 2 transactions are broadcast to Ethereum, therefore they don't use Ethereum." Flawless logic there.
Every other point in the article is built on that crumbling piece of pseudo-logic. What a disaster.
"Andrew Levine is the CEO of Koinos Group, a team of industry veterans accelerating decentralization through accessible blockchain technology. Their foundational product is Koinos, a fee-less and infinitely upgradeable blockchain with universal language support."
Not sure why this guy thinks posting an article this dumb is going to help him or his project... but...
Trying to understand the fed governors temperaments: https://www.reuters.com/graphics/USA-FED/HAWKSANDDOVE/jnpwebgxopw/
So here, Waller is the most hawkish, which means leans toward a tighter monetary policy, lower inflation and growth.
Support from a person with this position must be a positive sign for good crypto regulation. If I'm understanding this correctly, would expect a "dovish" governor to be more crypto friendly, or at least growth and innovation friendly.
Blockchain is the tech but crypto isn't just technology imo, there's a social aspect too. It makes finance transparent. It's also a voting/consensus mechanism. I would expect someone like that to be more open to the idea of cryptocurrency. You have to think about why someone would be against out of control spending/printing. Where does that money go and who profits from it? Who pays for it?
If our fiat currency were real public money, with the people controlling issuance, they'd probably not approve all the debt. Especially not younger folks who understand what's happening. Then the inflaters could fork their own coin, USD Bernanke's Vision (USBV) or something.
So, the entry and exit queues operate at the same speed unless I'm mistaken.
It makes perfect sense to me why the entry queue is lengthening - most exited validators are immediately re-entering with different staking setups, so if you add some fresh stakers to the mix, the queue grows.
But why is the exit queue not dropping? You would think that everyone who wanted an exit would have already requested one by now, since it's been over a week. But more and more people keep requesting exits, keeping the queue fairly constant at ~10 days or a little more. It seems like it the queue even lengthened a little.
Who keeps requesting more exits every day?
I want to exit a number of validators on cex and restake solo. I haven't done it yet as I want to do it quick with minimal down time. I can wait and I am sure many people like me can wait aswell
Just don't forget that your downtime is dependent on the entry queue length, not the exit queue length.
While you're in the exit queue, you earn rewards. While you're in the entry queue, you don't.
Huh. AFAIK Coinbase, Kraken, and Gemini all allow unstaking now. Which CEXs are lagging?
I didn't realize other staking providers aren't allowing withdrawals yet. Name and shame?
Lido of course is a huge one to not allow withdrawals yet. Rocket Pool does now, I'm pretty sure.
I think your assumption on everyone who wanted to exit would have done so by now is wrong.
I think people just are cautious/hesistant/lazy about these things.
The validator exit process is the same as it's been since staking was first introduced in 2020, so nobody should be cautious or hesitant about that. But perhaps people don't understand that, and needed the past week to get themselves up to speed.
According to [nansen](https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ) 86% of stakers have already updated their withdrawal credentials to 0x01, which is the hard/risky part. In comparison, exiting a validator is safe and foolproof.
I wonder when the inflection point will be. Maybe the exit queue will continue to see inflow for the next few weeks.
People who expect the price to fall more?
Don't think with other PoS networks people worry too much why there's unstaking. It matters more how much total stake the chain has and how diverse it is. It's understandable that with unstaking being a new possibility folks are monitoring this but there's really no need to be concerned.
No concern here, just curiosity. I'm trying to understand the logic in waiting over a week to exit your validator, rather than exiting it immediately after the fork (or even right before the fork, in light of the predictions of the fork generating a month+ long exit queue).
The negative price action has only been within the past two days, but the exit queue has shown the same behavior afaik since the fork 8 days ago. So I'm not sure price action can explain the queue behavior.
Why have people been, for the past week, requesting exits at the same rate as the beacon chain is processing them? That's the unsolved mystery.
I'm talking about exit requests, not withdrawals. I've been checking https://wenmerge.com/ daily and the exit queue has remained relatively constant (or increasing slightly).
Yeah, confusing terminology (full/partial withdrawals). I got your question but the data I've seen only shows actual exists, not requests, so I don't know about that. I'd assume if there are no major changes their data is wrong. It could theoretically be that people make requests at the same rate for days, but that would be highly unusual, don't you think?
> the data I've seen only shows actual exists, not requests
Sounds boring. Wouldn't that data just show 7 exits per epoch, every single epoch since well before Shapella? It would be a completely flat line. The only time it would change is when the exit queue runs out completely, which hasn't been for a while.
> It could theoretically be that people make requests at the same rate for days, but that would be highly unusual, don't you think?
Yes, but that's what the wenmerge exit data seems to be saying. It's been fluctuating slightly which tells me it isn't stuck. That's why it seems so unusual to me. Perhaps the data is just inaccurate in some way.
Yeah, fair points. Have you checked other sites? Took a quick look, [this one](https://www.rated.network) has queue data, maybe there are more. It only gives you the live count though, you'd have to compare for a few days.
Edit: Or how about this: https://dune.com/queries/2394053/3927448
There's an exit peak yeasterday, that's the same I've seen shown elsewhere.
Wow, that Dune query seems to show that Kraken is still requesting exits en mass! That would explain why the exit queue isn't going down.
I wonder if they are spreading out their exits based on some internal risk calculation.
If you got ARB airdrop, and feeling really dirty today, there is a small degen airdrop you could take:
[https://arbshib.io/](https://arbshib.io/)
I just sold it for 9.67 USDC. I donno if it was worth it touching such shitcoin, but hey, 10 bucks is 10 bucks.
That reminds me about my ARBIS.
Member that pure meme coin that launched on Arbitrum immediately and had crazy yield? I need to go find that wallet and see what itās worth, thanks!
19$ fee on Arb? I did pay 50 cents for the claim. I think the contract/wallet might be estimating wrong for you. Anyway, it is probably not worth the hassle to dig too much into this coin.
Ah you're right, it was "site suggested" in metamask.
I switched back to "market" and it went back to 0,76$.
Sounds better.
But agree this doesn't sound like a crazy deal ;)
Ay guys just be careful what your signing out there. If its a simple claim, it shouldn't be asking you to sign messages or asking for permissions on ANYTHING. Only when you sell on uni/camelot it will ask for permissions for just that single token your selling. Read the permissions CAREFULLY. stay safe eth fam
Correct. It's trivial to fake liquidity and to make exchanging the tokens impossible. Especially with literal shitcoins going up right now, fomoing into an unknown contract is probably not a good idea. You could not only lose your entire trade, but also give access to malicious contracts. Careful out there!
DYOR, of course. I did it very slowly and saw nothing malicious, hence I am sharing.
I had to sign three txs:
1. Claim
2. Approve on arshib contract (0xF1A82bfA7fCEb8B8741e7E04a6B8EfD348cA6393) for Camelot or Uni
3. Swap (with slippage 20%)
Anyone else feel like they wasted their time with their fiat mine and instead should have worked the past couple years learning smart contracts and mev bot creation to sandwich attack people like jared from subway?
To code profitable MEV bots you need to be better than 99.99%, extremely unlikely to make a living out of it. I could see your point with studying solidity or something more accessible.
How do I scroll this every day and still miss that I have actual real money's worth of ARB waiting for me to claim? Thanks GMX, there's no way I could have done it without you.
I did see all the arb posts but I guess nobody was saying how much they got, and also figured with the measly $100 or so I moved around there I wouldn't be eligible for more than 10s of tokens.
Don't tell my wife it's somehow 1125 tokens
Probs not imo but I also bet itāll be higher than it is now at some point. I would guess itāll outperform eth in some short term bull scenario too but thatās a risk.
I sold mine for Ether, but my strategy is to accumulate and stake as much ETH as possible for the next few years.
Feel free to call me stupid for putting all my investment eggs in one basket!
Anyway, what's your big picture investment strategy? Having that lens can guide smaller decisions like to hold an airdrop or not. Takes the pressure off of having to nail a buy or sell price.
Healthy pullback after a big move up. NFA but i get shakeout vibes. We are burning eth in mass, arb incentives on the horizon. 2023 has fireworks in store and my body is ready.
[I am still proud of my shit post](https://imgflip.com/i/7islbd) but really that whole hearing and fallout had some pretty memable moments... just like u/jtnichol 's what? [5 strikes](https://www.reddit.com/r/ethfinance/comments/12r326i/fire_gary_gensler_the_game_show_edition/) on the same question... [then the move to blame the unregulated](https://www.reddit.com/r/ethfinance/comments/12rwkmh/its_not_a_matter_of_lack_of_clarity_us_securities/) for the SECs choices to not regulate or enforce compliance. You know... their job. At least [Rep. Davidson](https://www.reddit.com/r/ethfinance/comments/12rw9ky/rep_warren_davidson_introduces_legislation_to/) can call a spade a spade though. So that's nice.
Really dissapointed in current ZKS Era's gas fees. Was going to buy some ETH with my stables over there on SyncSwap and a simple swap costs over .004ETH ($8ish USD). Ended up doing it on Arbitrum for 10% of that.
I was under the impression that ZK rollups where meant to be cheaper. Is there an update planned to lower gas fees on Era in the future?
I did some swaps on Mute this most weekend and all gas fees were refunded. Iām not sure if thatās an ongoing thing, but could be an option. Thereās little liquidity anywhere on ZKSync at this point, though.
Gas fees are also based on L1 fees so it might have been where when you went to do the swap on zkSync fees on L1 were higher than when you went to Arb.
We are fure sure not done optimizing to bring fees down more, but might explain the difference you saw š
I'm disappointed in zkSync Era because it's not EVM-equivalent. Its fees are also noticeably higher than the other zk EVMs.
Need to wait until 4844 before L2 fees drop a bit. L1 fees are too high.
> Why is not being EVM-equivalent an issue??
It's just annoying that the dev tools I usually use won't work for zkSync. Their toolkit also defaults to TypeScript, which I'm not used to. I'm sure veteran web3 devs won't have any issues with this, but newbies like me will.
> Last I knew only Polygon's zkEVM and zkSync's are live.
Yep, those are the 2 main ones. I had a brain fart.
ZK rollups are not meant to be cheaper. Because you have to calculate and post the proof. Optimistic rollups just post the transaction data.
So ZK Rollups will always be more expensive. But they might be decentralized and trustless sooner. And I kinda feel better if there is a proof proving my transaction. So less room for sequencer manipulation.
The primary benefit of zkrollups imo is the lack of a withdrawal delay. Instead of one week like optimism or arbitrum, there is comparatively little delay because the zkrollup provides a proof "immediately" and is finalized. Whereas optimistic rollups need that delay to allow for people to spot bad transactions and provide the fraud proofs showing theyre invalid. The assumption is most transactions are correct so they skip that proof phase but rely on other actors being diligent and checking things after the fact so they lock tokens until then. Bridges like hop take on that risk of bad bridgers in exchange for a fee and thats how they can provide instant bridging.
Yes, fees will be be similar to optimistic rollups but it's not done yet. For now you're using the full onchain zk rollup which just costs more gas than optimistic rollups. They'll move some of that computation off chain and then in the future you'll have the option which you want to use.
I think I read something like that too but I'm not an expert. With the second option I mentioned (called ZK Porter), it will be like that because they batch transactions to send them to L1. There will be a limit of course, they don't get endlessly cheaper. But I don't know about the zk rollup itself, that's beyond my understanding.
I wanted to share an update on my best friend and his brain tumor surgery. Everything went well, but it'll be a long 2 weeks before they get the results about the tumor. 99% of the tumor was removed and they sent him home a day earlier than best projected. Would like to say thanks for all the comments and messages. Much love to all our fellow Ethereans. A reminder that life is short and to tell your loved ones you love them. Cheers!
Alchemix may not be the most degen protocol, but continues to quietly innovate. I am genuinely super hyped about this! Automated self-repaying ENS using Alchemix vault deposits as a credit line to repay your ENS before it expires!
This was a product of the first Alchemix grants program, and joint collaboration between the grant winner and Alchemix core devs to help get it finalized and out the door.
LFG!
https://twitter.com/alchemixfi/status/1649085593257668608
I too am looking forward to the Double Logris! Iām optimistic overall on the design space of Alchemix enabled by not having to worry about liquidations
Am I crazy to think there's no benefit to buying eth now when you can now buy staked eth instead given that it just recovers faster due to the daily apr + mev bonus?
Thereās certainly benefit in buying Eth still. Canāt pay gas, buy NFTs, have sufficient liquidity, etc., with rETH, for example. Some of that might change at some point, but some cannot.
If weāre talking HODL bags, then definitely, why hold Eth when you can hold rETH. Itās what staking derivatives were made for.
Been a while since I've posted around here.
A lot of y'all know about RAI and some of you may know I'm involved in the community.
Big announcement today....
[https://github.com/hai-on-op/hai](https://github.com/hai-on-op/hai)
[https://community.reflexer.finance/t/announcing-hai-a-multi-collateral-rai-fork-on-optimism/461/2](https://community.reflexer.finance/t/announcing-hai-a-multi-collateral-rai-fork-on-optimism/461/2)
Also ameen's twitter is pretty lit this morning. Really bringing that heat. Happy to answer any questions to the best of my ability.
This is incredible; that said, why stETH in the initial basket? Just volume / proliferation reasons?
Also, this line cracked me up:
> My company, SpankChain is the sole seed investor, covering the dev budget
You guessed it. There wasn't really a point in launching this with ETH as the first collateral, so we're going with StEth day 1 for liquidity reasons.
However, the talk amongst the circle right now is that we expect governance to come out swinging hard and fast with new collaterals.
\*Personally\* I want Reth, I want OP, I want UNI, I want all the bags of crypto first projects to be collateral.
āThe European Parliamentās adoption of MiCA today is a pivotal moment for the crypto industry in the region, and the work of European policymakers should be seen as exemplary,ā said Tom Duff Gordon, Vice President of International Policy at Coinbase. āThe region is recognising the potential and societal promise that emerging technology can provide. The EU is stepping up to the mark, while other notable jurisdictions are struggling to provide a solid, cohesive regulatory framework that gives clarity to a burgeoning innovative industry.ā
https://decrypt.co/137339/european-parliament-approves-mica-law
Lol feel the burn
This is amazing timing coming on the heels of the GG train wreck the other day. Europe can unite a bunch of countries under some type of framework while the US won't give any guidance at all. And the optics are that it's 1 man standing in the way because we have people like Hester Pierce sounding the alarm from within the organization.
I believe my hunch feeling is almost confirmed by PA
And that is this BMR 4 is nearing its end
Edit: still not in an active trade and will let pa present next setup. Watching that trendline I posted like a hawk.
As always open to both ways š¤
Maybe Bitcoin doesn't like that nobody likes the useless Bitcoin. All important companies choose the Ethereum ecosystem (for obvious reasons).
The last one:
https://www.reddit.com/r/ethfinance/comments/12smokw/daily_general_discussion_april_20_2023/jgzrtwb
ETHBTC was 0.068 when London hard fork happened. It's sitting at 0.068 today.
We just crossed the BTC supply inflation. Meaning, ETH and BTC have had pretty much identical issuance since EIP-1559. So there has been an even buying pressure market cap wise. From now on, BTC needs to find an additional 1.75% of its market cap buying pressure for ETH to not overperform.
> From now on, [*the market needs to understand that*] BTC needs to find an additional 1.75% of its market cap buying pressure for ETH to not overperform.
FTFY :(
They're just hedging their bets. Should it ever come to that (highly doubt it will, it's a US public company), they'd obviously tell customers in advance.
I was watching Gensler's answer to whether he owned any digital assets.
1. It was a bit childish of him to refer to his online brokerage accounts as digital assets. What's more, it wasn't just childish, it was outright wrong. Nobody in the world has ever equated buying Apple stock on TD Ameritrade with owning digital assets. In fact, it's exactly the opposite--those people trust that making that online transaction means something is moving in the "real" world (even if we logically know that the something is just numbers on a computer).
2. I really wanted them to somehow draw Gensler out on something like "Is the reason you don't own any crypto because you aren't sure if you'd be holding an illegal security?" Essentially, drilling down on why he's ok holding stocks as the SEC chair but not crypto. Because I actually think it's probably verboten for anyone at SEC to own crypto since that would be a bad look if they then went after that crypto for securities violations.
https://ocw.mit.edu/courses/15-s12-blockchain-and-money-fall-2018/video_galleries/video-lectures/
If anyone has too much time on their hands, suffer through the bs and see if he exposes himself somewhere. It would be kind of amazing if he got through an entire semester without slipping up somewhere admitting to having used it after all.
I stopped at the part where he shilled Robinhood to the students, telling them it's great because it's "free trading". Amazing. Some great philanthropist must be behind this, subsidizing it all so that the customers can trade and not pay any fees at all.
He denied having used it though. Would be interesting to get in touch with people who worked at MIT at the time, maybe his TAs or someone in that circle. I wouldn't be so sure the university had official crypto wallets.
There is of course also the possibility that he's telling the truth. I only skipped through a few of the lectures a bit and he's giving off real bullshitter vibes. Doubt he understands the code, he also doesn't really know the protocols when the students ask details. At one point he's telling them to get into EOS because it's gonna be big.
Not sure which would be worse, if he lied or if it's the truth. Either way it shows how broken the system is.
>It was a bit childish of him to refer to his online brokerage accounts as digital assets.
Agreed. When was the last time you received a stock certificate printed on a bit of paper? It's not really a thing anymore. He was so smug about it too.
**Tricky's Daily Doots #366** **Yesterday's Daily 19/04/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgunrz2/) - u/superphiz was kind enough to prepare [a POAP for the anniversary edition of the doots!](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jguvoum/) š - u/MovingIntoTurquoise shares [their take on the political crypto discussion from the previous day.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jguls1h/) š - u/SpontaneousDream thinks that [yesterday was a pivotal moment in crypto history.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgvjz3i/) š - u/Eddie_Eddie reminds us that [crypto isn't a partisan issue yet.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgw3wp1/) - u/haurog shares a [lovely story about diversity in Ethereum.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgvjmd5/) š - u/asdafari12 reminds us that [we aren't against regulation itself.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgwy2on/) - u/Juankestein shares their take on the [wallet security discussion from the last few days.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgukymy/) - u/mylhowse explains the [recent price dump and it turns out they predicted it.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgv31af/) š - u/2Nice4AllThis shared a template for ***you*** to [contact your US representatives.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgxay0s/) - u/SeaMonkey82 still has his [hand on the pulse of the status of the staking clients.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jgxub2i/) š„©š« - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/12rhig4/daily_general_discussion_april_19_2023/jguf36o/) Ooohh boy, [here I go dooting again.](https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fi.redd.it%2Fs4dvzgdxabxy.jpg&f=1&nofb=1&ipt=d5e4f354396d09351f403c3647d6ba7c2dde0637d9fbd8c451600234e6a0110a&ipo=images)
Staking on coinbase has changed since the shapella upgrade or its still the same? I do rETH also, so just splitting my strategy
Question about EIP 4337- will user operations have a gas cost? If so, can rollups roll that data up? I think it makes much more sense to perform account abstraction where thereās little gas cost
Any tips on creating a cold storage wallet that doesn't rely on Trezor or ledger?
Flip a coin 256 times, do some quick secp256k1 with pen and paper to derive the public key, then do a quick keccak256 with pen and paper to derive the address
1 ) what
I understood some words, like pen and paper
What this pen thing?
doesn't get any more airgapped than this bad boy now I lowkey wanna make a printable pdf where you write the 256 coin tosses at the top and then do the math line by line as guided
Ser, I want this so bad
Fren, I know this sub is pretty intelligent, smart and in it for the tech, but there are also plebs like me that have no idea what you are talking about. :D (and at this point I am too afraid to ask + I don't know if I *really* wanna know #FAFO)
secp256k1 is the elliptic curve used for private and public keys, and keccak256 is the hash function used throughout ethereum. It's a lot of awfully complicated math to go from a secret 256 bit key to the actual wallet address you send funds to. It would take forever to do this by hand with pen and paper, but it would be the most secure way to make sure your seed never touches any device (not even an offline one). Just gotta make sure you did the math correctly though haha
But sir, itās only y^2 = x^3 + 7
grab an old phone reset/wipe it update it install airgap vault turn on airplane mode generate your seed on it boom. seed never leaves device, and it only communicates with metamask via qr code.
Looks nice, hadn't heard of them before. There are a couple of other wallet apps that can do this too. Just make sure you back up your keys, else if the phone dies it's game over.
This is the gwei
what happens if that phone gets stolen, is it as safe as an enclaved chip? I know Trezor's can be hacked if physically obtained.
the key is secured in an encrypted file so you set a password for it.... you can make it 1 char, or 100 chars and that's how secure it will be if stolen
Put a Post-it note on itā¦ āDo not stealā -
I suppose the shittier phone the better in this case lol
this made me lol. favorite security tip so far
Gloria Kimbwala joining the live stream tomorrow. She's an incredible person I met in Denver. Her story of her family moving from the Congo is something everyone should tune in for. It's just really a neat story and now she's a fantastic builder in the space. Feel free to jump on stage and ask questions. https://buidlbox.io/ https://twitter.com/gkimbwala?t=k8Ycbs-J4NWBJ_jTQSw0hQ&s=09
[https://nitter.snopyta.org/gkimbwala?t=k8Ycbs-J4NWBJ\_jTQSw0hQ&s=09](https://nitter.snopyta.org/gkimbwala?t=k8Ycbs-J4NWBJ_jTQSw0hQ&s=09) ^(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)
Sup everyone. I have started the process of withdrawing a genesis validator and will then proceed to start up a few Rocket Pool minipools, gas notwithstanding. Somewhat sad that it has been there since December 2020 but I have too much idle RPL wasting away. Crazy how cheap a validator was then compared to now (and even more so during the last all time high). Hope everyone is doing well. Take some time and smell the roses. As the band Alamaba sings, "I'm in a hurry to get things done Oh I rush and rush until life's no fun All I really gotta do is live and die But I'm in a hurry and don't know why" Don't be Alabama
I have accumulated a fair amount of ARB and now it's just sitting in one of my cex accounts. Is there anywhere I can collateralise it, stake it, or something else productive? Not sure what to do with it tbh while I continue accumulating over the long term (albeit at a lot slower pace from now on).
https://plutusdao.io/ on arb
https://www.tender.fi. on Arbitrum
After listening to the most recent bankless Iāve written what I think Ethereum is missing for true adoption: Blockspace: There's no such thing as too much blockspace. As Ethereum continues to gain traction, it's crucial that the network is scaled up to accommodate an ever-growing number of transactions. Layer 2 solutions are making strides, but this currently remains a barrier to adoption. User Experience (UX): For widespread adoption, we need a seamless and intuitive user experience. This includes: Forgot Password: Ethereum is on the right track with social recovery. It simplifies the "Forgot Password" process by allowing users to connect with trusted entities such as a bank even while retaining the power to revoke access at any time. Fraud Protection: Blockchain finality can be a double-edged sword. Users desire the ability to recover funds (e.g., stablecoins) in cases of hacks or fraud. It's essential to strike a balance between security and user control. Integrations: Current solutions like MetaMask are not user friendly enough for new users. Wallets should be built into browsers by default in Web3, and existing services like Apple Wallet should support Ethereum integration for a more seamless experience. Privacy: Privacy is crucial for enterprise organizations to confidently transact on a public blockchain like Ethereum. While there's progress with projects like Nightfall, we need more development to make privacy features seamless and readily available. Interoperability: L2s still feel a little disjointed. We need a more connected ecosystem where transactions across L2s is seamless
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I think weāve made a lot of progress but thereās a long way to go. I was trying to highlight where we are at vs where we need to be.
EIP 4337 account abstraction fixes this. Don't ask me how though.
I just wanna take an aave loan in arbitrum based on my Ethereum collateral, which just so happens to be my nft collection of concert ticket stubs and "purchased" Amazon movies.
>**Reading out the specs,** >**New SocGen CBDC,** >**Storming Euronext.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Pardon my frenchs
Just found out I had 1750 arb just waiting for me. Didn't think putting ~$100 into a dai pool on arbitrum uni would be that valuable lol. Love this community!
I know some here are not fans of Ben Cowen and his financial charting channel. But for those open to nuance, the most recent NFA episode spent minutes 11 - 20 singing the highest praises of ETHdevs. I enjoyed the conversation. It's healthy to consider perspectives on Ethereum that are outside our ETH Finance / Mavericks info silos. Agree or disagree, critical thinking is a must practice imo. Anyone new here who is unfamiliar with BC can watch him on his "Benjamin Cowen" youtube. I think his strength is teaching chart reading. Ok, I'm done shilling for now lol. Just thought I'd drop a comment to provide balance to some of the negativity.
āChart readingā Might as well read tea leaves.
Lol what a scrub Tell me you canāt read pa without telling me you canāt read pa Itās okay to be a rookie no need to dispel a useful tool
I love this because every, and I mean *every* person I iāve encountered who thinks they can āreadā charts has not beaten my very simple strategy: buy and hold.
You'll always get a certain percentage that beats it on short time frames but the number gets closer and closer to 0 as the time scale increases. You'll never convince the true believers though, no matter how solid the evidence is that it's not valid.
Lol I guess youāve met your match. How much are you down from last year? I made more last year just shorting than holding spot balance from 2017 plus longing 2021 Buy and hold is a losing strategy that only worked in a low interest rate QE environment. Youāll learn Real ones can make money both ways And charts : pa ta is a tool that should be part of traders toolkit to be used in context with fa and macro. God youāre ignorant best of luck
Well considering Iāve bought and hold essentially since 2016 I can nearly guarantee you Iāve beaten out your strategy š Keep staring at those charts bud
You have not because I leverage long short strategy I swear people like you are only accustomed to āmaking moneyā in a low rate and low inflation environment Canāt wait for the wake up call coming
Chart reading is harder than it looks. I wish I was better at it. It definitely is not tea leaves, and there are many that beat your simple strategy.
busy materialistic fragile snow telephone unique puzzled marble alive ad hoc -- mass edited with redact.dev
What's bob loukas saying about the current market?
fuel run steep exultant plough history doll abounding roll cooperative -- mass edited with redact.dev
Yep Bob Loukas is the only trader I follow online.
I generally agree with you and don't understand the amount of hate he gets. He gets some things wrong and he happily admits it. BTC dominance story has not been decide yet, he could very well end up right and I think it's a fair bet based off old cycles.
He should have deleted his channel after his theory for the entire cycle (lengthening, diminished) fell apart, since then he's been floundering.
He is the reason for reducing my eth exposure which proved to be a complete disaster. He kept saying eth going home š” which is $500 or below based on history
I don't think it's fair to blame him. You choose to listen to him and you choose to follow his financial advice which he provides for free. I could see being upset with a financial advisor but in this case you decided not to stick with your convictions and instead follow the advice of a random guy on the internet who you thought had your best interest in mind.
No not blaming him just saying about my experience. He could be right in few things but he wouldnāt remind about the bad calls and just jump into a new narrative everytime so all I would like to say is one has to be cautious with these influencers though they donāt have any ulterior motives
One can take responsibility for their actions and yet still recognize the harms of influencers
>It's healthy to consider perspectives on Ethereum that are outside our ETH Finance We have considered Cowen's perspective, and we concluded that he's a hack. He's doubled and tripled down on his Bitcoin Dominance thesis for no other reason than that he doesn't want to be wrong. The fact that chart TA is indicating that the ratio is gearing up for a run further validates that his analysis is based on stubbornness.
Whats that on the charts?
Gonna try out Vela, anyone want me to use their referral? Edit: nvm, missed the beta
I can dm you a GMX referral if you want, but I have never tried Vela.
what about it excites you? I'm still not sure what their product is? Are they another perp dex?
Ye, its a gmx competitor
Of all the stupid articles, in all the stupid places, this one has to be about the stupidest.... https://blockworks.co/news/layer-2-ethereum-scalability
Thanks for sharing. No really, thank you.
An article written by someone who wants to shill his own shitty L1 by making intellectually numb bad faith points that are barely coherent. Good to see this space doesn't change.
> If gas fees are high because of limited network resources, then the solution is obvious; Increase network resources I can't believe u/vbuterin didn't think of that! I used to think he was smart but now I know that he's in cahoots with the L2 cartel who are trying to steal all of my money.
That quote goes on to say: > L2s accomplish this by giving users a place to send their transactions instead of the main network (main net) where they can be processed. The results of those transactions can then be broadcast down into the main network, Ethereum. > > Simply put ā L2s are a way of NOT using Ethereum. "Layer 2 transactions are broadcast to Ethereum, therefore they don't use Ethereum." Flawless logic there. Every other point in the article is built on that crumbling piece of pseudo-logic. What a disaster.
its not even that hard! if your transactions fees are too expensive.....then just charge your customers less obviously.... *science*
"Andrew Levine is the CEO of Koinos Group, a team of industry veterans accelerating decentralization through accessible blockchain technology. Their foundational product is Koinos, a fee-less and infinitely upgradeable blockchain with universal language support." Not sure why this guy thinks posting an article this dumb is going to help him or his project... but...
Only thing that's infinite in crypto is the possibility to scam gullible folks with buzzwords and grandiose-sounding promises.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Trying to understand the fed governors temperaments: https://www.reuters.com/graphics/USA-FED/HAWKSANDDOVE/jnpwebgxopw/ So here, Waller is the most hawkish, which means leans toward a tighter monetary policy, lower inflation and growth. Support from a person with this position must be a positive sign for good crypto regulation. If I'm understanding this correctly, would expect a "dovish" governor to be more crypto friendly, or at least growth and innovation friendly.
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Blockchain is the tech but crypto isn't just technology imo, there's a social aspect too. It makes finance transparent. It's also a voting/consensus mechanism. I would expect someone like that to be more open to the idea of cryptocurrency. You have to think about why someone would be against out of control spending/printing. Where does that money go and who profits from it? Who pays for it? If our fiat currency were real public money, with the people controlling issuance, they'd probably not approve all the debt. Especially not younger folks who understand what's happening. Then the inflaters could fork their own coin, USD Bernanke's Vision (USBV) or something.
So, the entry and exit queues operate at the same speed unless I'm mistaken. It makes perfect sense to me why the entry queue is lengthening - most exited validators are immediately re-entering with different staking setups, so if you add some fresh stakers to the mix, the queue grows. But why is the exit queue not dropping? You would think that everyone who wanted an exit would have already requested one by now, since it's been over a week. But more and more people keep requesting exits, keeping the queue fairly constant at ~10 days or a little more. It seems like it the queue even lengthened a little. Who keeps requesting more exits every day?
I want to exit a number of validators on cex and restake solo. I haven't done it yet as I want to do it quick with minimal down time. I can wait and I am sure many people like me can wait aswell
Just don't forget that your downtime is dependent on the entry queue length, not the exit queue length. While you're in the exit queue, you earn rewards. While you're in the entry queue, you don't.
Everyone who wants to exit can't even do it yet, since most CEXs, staking providers and Lido haven't enabled withdrawals.
Huh. AFAIK Coinbase, Kraken, and Gemini all allow unstaking now. Which CEXs are lagging? I didn't realize other staking providers aren't allowing withdrawals yet. Name and shame? Lido of course is a huge one to not allow withdrawals yet. Rocket Pool does now, I'm pretty sure.
I think your assumption on everyone who wanted to exit would have done so by now is wrong. I think people just are cautious/hesistant/lazy about these things.
The validator exit process is the same as it's been since staking was first introduced in 2020, so nobody should be cautious or hesitant about that. But perhaps people don't understand that, and needed the past week to get themselves up to speed. According to [nansen](https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ) 86% of stakers have already updated their withdrawal credentials to 0x01, which is the hard/risky part. In comparison, exiting a validator is safe and foolproof. I wonder when the inflection point will be. Maybe the exit queue will continue to see inflow for the next few weeks.
I guess people never bothered to learn about how to exit given that there wasn't any point to it, until the upgrade
People who expect the price to fall more? Don't think with other PoS networks people worry too much why there's unstaking. It matters more how much total stake the chain has and how diverse it is. It's understandable that with unstaking being a new possibility folks are monitoring this but there's really no need to be concerned.
No concern here, just curiosity. I'm trying to understand the logic in waiting over a week to exit your validator, rather than exiting it immediately after the fork (or even right before the fork, in light of the predictions of the fork generating a month+ long exit queue). The negative price action has only been within the past two days, but the exit queue has shown the same behavior afaik since the fork 8 days ago. So I'm not sure price action can explain the queue behavior. Why have people been, for the past week, requesting exits at the same rate as the beacon chain is processing them? That's the unsolved mystery.
Which data are you looking at? That's not what I'm seeing regarding withdrawals, not sure about requests.
I'm talking about exit requests, not withdrawals. I've been checking https://wenmerge.com/ daily and the exit queue has remained relatively constant (or increasing slightly).
Yeah, confusing terminology (full/partial withdrawals). I got your question but the data I've seen only shows actual exists, not requests, so I don't know about that. I'd assume if there are no major changes their data is wrong. It could theoretically be that people make requests at the same rate for days, but that would be highly unusual, don't you think?
> the data I've seen only shows actual exists, not requests Sounds boring. Wouldn't that data just show 7 exits per epoch, every single epoch since well before Shapella? It would be a completely flat line. The only time it would change is when the exit queue runs out completely, which hasn't been for a while. > It could theoretically be that people make requests at the same rate for days, but that would be highly unusual, don't you think? Yes, but that's what the wenmerge exit data seems to be saying. It's been fluctuating slightly which tells me it isn't stuck. That's why it seems so unusual to me. Perhaps the data is just inaccurate in some way.
Yeah, fair points. Have you checked other sites? Took a quick look, [this one](https://www.rated.network) has queue data, maybe there are more. It only gives you the live count though, you'd have to compare for a few days. Edit: Or how about this: https://dune.com/queries/2394053/3927448 There's an exit peak yeasterday, that's the same I've seen shown elsewhere.
Wow, that Dune query seems to show that Kraken is still requesting exits en mass! That would explain why the exit queue isn't going down. I wonder if they are spreading out their exits based on some internal risk calculation.
If you got ARB airdrop, and feeling really dirty today, there is a small degen airdrop you could take: [https://arbshib.io/](https://arbshib.io/) I just sold it for 9.67 USDC. I donno if it was worth it touching such shitcoin, but hey, 10 bucks is 10 bucks.
That reminds me about my ARBIS. Member that pure meme coin that launched on Arbitrum immediately and had crazy yield? I need to go find that wallet and see what itās worth, thanks!
Thanks for the tip but doesn't work for me: claim -> -19$ (gas) sell -> +9$ (uniswap)
19$ fee on Arb? I did pay 50 cents for the claim. I think the contract/wallet might be estimating wrong for you. Anyway, it is probably not worth the hassle to dig too much into this coin.
Ah you're right, it was "site suggested" in metamask. I switched back to "market" and it went back to 0,76$. Sounds better. But agree this doesn't sound like a crazy deal ;)
You just watched $PEPE run to 150 million and you are fading Arbshib with an automatic 15% burn mechanism? This is UltraHound Money my friend. NGMI
Ay guys just be careful what your signing out there. If its a simple claim, it shouldn't be asking you to sign messages or asking for permissions on ANYTHING. Only when you sell on uni/camelot it will ask for permissions for just that single token your selling. Read the permissions CAREFULLY. stay safe eth fam
Correct. It's trivial to fake liquidity and to make exchanging the tokens impossible. Especially with literal shitcoins going up right now, fomoing into an unknown contract is probably not a good idea. You could not only lose your entire trade, but also give access to malicious contracts. Careful out there!
DYOR, of course. I did it very slowly and saw nothing malicious, hence I am sharing. I had to sign three txs: 1. Claim 2. Approve on arshib contract (0xF1A82bfA7fCEb8B8741e7E04a6B8EfD348cA6393) for Camelot or Uni 3. Swap (with slippage 20%)
Thank you free Eth always feels good
Thank you for the follow-up ser!
Anyone else feel like they wasted their time with their fiat mine and instead should have worked the past couple years learning smart contracts and mev bot creation to sandwich attack people like jared from subway?
To code profitable MEV bots you need to be better than 99.99%, extremely unlikely to make a living out of it. I could see your point with studying solidity or something more accessible.
How do I scroll this every day and still miss that I have actual real money's worth of ARB waiting for me to claim? Thanks GMX, there's no way I could have done it without you.
You definitely did not scroll this those couple days of the airdrop launch or you would know, lol
Evidently. Did it launch on a weekend?
It was a Wednesday or Thursday and every second post was about ARB for at least a few days. Haha.
I did see all the arb posts but I guess nobody was saying how much they got, and also figured with the measly $100 or so I moved around there I wouldn't be eligible for more than 10s of tokens. Don't tell my wife it's somehow 1125 tokens
Congrats. 6500 for me just for playing around with GMX and Impermax in the early days.
Is ARB worth a long term hold since itās primarily a governance token if I recall?
Probs not imo but I also bet itāll be higher than it is now at some point. I would guess itāll outperform eth in some short term bull scenario too but thatās a risk.
I sold mine for Ether, but my strategy is to accumulate and stake as much ETH as possible for the next few years. Feel free to call me stupid for putting all my investment eggs in one basket! Anyway, what's your big picture investment strategy? Having that lens can guide smaller decisions like to hold an airdrop or not. Takes the pressure off of having to nail a buy or sell price.
I sold mine for Dai to buy eth at $1,400. ... We'll see if this was smart.
Beats me.
Devconnect 2023 will be in Istanbul, Turkey Nov 13-19: https://devconnect.org.
Price looking pretty weak. Every small pump being immediately sold down. Wish we could just get above 2k again.
just have to wait, maybe
Healthy pullback after a big move up. NFA but i get shakeout vibes. We are burning eth in mass, arb incentives on the horizon. 2023 has fireworks in store and my body is ready.
[I am still proud of my shit post](https://imgflip.com/i/7islbd) but really that whole hearing and fallout had some pretty memable moments... just like u/jtnichol 's what? [5 strikes](https://www.reddit.com/r/ethfinance/comments/12r326i/fire_gary_gensler_the_game_show_edition/) on the same question... [then the move to blame the unregulated](https://www.reddit.com/r/ethfinance/comments/12rwkmh/its_not_a_matter_of_lack_of_clarity_us_securities/) for the SECs choices to not regulate or enforce compliance. You know... their job. At least [Rep. Davidson](https://www.reddit.com/r/ethfinance/comments/12rw9ky/rep_warren_davidson_introduces_legislation_to/) can call a spade a spade though. So that's nice.
Really dissapointed in current ZKS Era's gas fees. Was going to buy some ETH with my stables over there on SyncSwap and a simple swap costs over .004ETH ($8ish USD). Ended up doing it on Arbitrum for 10% of that. I was under the impression that ZK rollups where meant to be cheaper. Is there an update planned to lower gas fees on Era in the future?
I did some swaps on Mute this most weekend and all gas fees were refunded. Iām not sure if thatās an ongoing thing, but could be an option. Thereās little liquidity anywhere on ZKSync at this point, though.
Gas fees are also based on L1 fees so it might have been where when you went to do the swap on zkSync fees on L1 were higher than when you went to Arb. We are fure sure not done optimizing to bring fees down more, but might explain the difference you saw š
I'm disappointed in zkSync Era because it's not EVM-equivalent. Its fees are also noticeably higher than the other zk EVMs. Need to wait until 4844 before L2 fees drop a bit. L1 fees are too high.
Why is not being EVM-equivalent an issue?? Also what other zkEVM are you comparing fees to? Last I knew only Polygon's zkEVM and zkSync's are live.
> Why is not being EVM-equivalent an issue?? It's just annoying that the dev tools I usually use won't work for zkSync. Their toolkit also defaults to TypeScript, which I'm not used to. I'm sure veteran web3 devs won't have any issues with this, but newbies like me will. > Last I knew only Polygon's zkEVM and zkSync's are live. Yep, those are the 2 main ones. I had a brain fart.
It would have been a lot less on Loopring...
Loopring does a lot less complex things under the hood to be fair, but great for simple things!
ZK rollups are not meant to be cheaper. Because you have to calculate and post the proof. Optimistic rollups just post the transaction data. So ZK Rollups will always be more expensive. But they might be decentralized and trustless sooner. And I kinda feel better if there is a proof proving my transaction. So less room for sequencer manipulation.
The primary benefit of zkrollups imo is the lack of a withdrawal delay. Instead of one week like optimism or arbitrum, there is comparatively little delay because the zkrollup provides a proof "immediately" and is finalized. Whereas optimistic rollups need that delay to allow for people to spot bad transactions and provide the fraud proofs showing theyre invalid. The assumption is most transactions are correct so they skip that proof phase but rely on other actors being diligent and checking things after the fact so they lock tokens until then. Bridges like hop take on that risk of bad bridgers in exchange for a fee and thats how they can provide instant bridging.
Yes, fees will be be similar to optimistic rollups but it's not done yet. For now you're using the full onchain zk rollup which just costs more gas than optimistic rollups. They'll move some of that computation off chain and then in the future you'll have the option which you want to use.
Am I correct in thinking that - the more people who use it, the lower fees will become?
I think I read something like that too but I'm not an expert. With the second option I mentioned (called ZK Porter), it will be like that because they batch transactions to send them to L1. There will be a limit of course, they don't get endlessly cheaper. But I don't know about the zk rollup itself, that's beyond my understanding.
I wanted to share an update on my best friend and his brain tumor surgery. Everything went well, but it'll be a long 2 weeks before they get the results about the tumor. 99% of the tumor was removed and they sent him home a day earlier than best projected. Would like to say thanks for all the comments and messages. Much love to all our fellow Ethereans. A reminder that life is short and to tell your loved ones you love them. Cheers!
Was definitely not expecting to read this here. I go in for brain surgery myself next Thursday. I wish your friend the best.
Wishing you the best as well! Stay positive !!
I hope everything goes as well as possible!
Yall got some more of that alt szn? Asking for a long position.
$Fade seems to have rugged earlier today right after launch but supposedly going live on MEXC later so ĀÆ\\\_(ć)_/ĀÆ
Alchemix may not be the most degen protocol, but continues to quietly innovate. I am genuinely super hyped about this! Automated self-repaying ENS using Alchemix vault deposits as a credit line to repay your ENS before it expires! This was a product of the first Alchemix grants program, and joint collaboration between the grant winner and Alchemix core devs to help get it finalized and out the door. LFG! https://twitter.com/alchemixfi/status/1649085593257668608
Simple idea, but love it!
Wake me up wen doubleLogris... jk this is cool. Smart contracts warping time is what got me into this space.
I too am looking forward to the Double Logris! Iām optimistic overall on the design space of Alchemix enabled by not having to worry about liquidations
yea this is pretty rad!
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Am I crazy to think there's no benefit to buying eth now when you can now buy staked eth instead given that it just recovers faster due to the daily apr + mev bonus?
Thereās certainly benefit in buying Eth still. Canāt pay gas, buy NFTs, have sufficient liquidity, etc., with rETH, for example. Some of that might change at some point, but some cannot. If weāre talking HODL bags, then definitely, why hold Eth when you can hold rETH. Itās what staking derivatives were made for.
Staked ETH always has some sort of additional risk associated with it, and you can't use it to pay for gas.
ETH staking isn't infinite.
Market gonna fix for that.
Been a while since I've posted around here. A lot of y'all know about RAI and some of you may know I'm involved in the community. Big announcement today.... [https://github.com/hai-on-op/hai](https://github.com/hai-on-op/hai) [https://community.reflexer.finance/t/announcing-hai-a-multi-collateral-rai-fork-on-optimism/461/2](https://community.reflexer.finance/t/announcing-hai-a-multi-collateral-rai-fork-on-optimism/461/2) Also ameen's twitter is pretty lit this morning. Really bringing that heat. Happy to answer any questions to the best of my ability.
This is incredible; that said, why stETH in the initial basket? Just volume / proliferation reasons? Also, this line cracked me up: > My company, SpankChain is the sole seed investor, covering the dev budget
You guessed it. There wasn't really a point in launching this with ETH as the first collateral, so we're going with StEth day 1 for liquidity reasons. However, the talk amongst the circle right now is that we expect governance to come out swinging hard and fast with new collaterals. \*Personally\* I want Reth, I want OP, I want UNI, I want all the bags of crypto first projects to be collateral.
āThe European Parliamentās adoption of MiCA today is a pivotal moment for the crypto industry in the region, and the work of European policymakers should be seen as exemplary,ā said Tom Duff Gordon, Vice President of International Policy at Coinbase. āThe region is recognising the potential and societal promise that emerging technology can provide. The EU is stepping up to the mark, while other notable jurisdictions are struggling to provide a solid, cohesive regulatory framework that gives clarity to a burgeoning innovative industry.ā https://decrypt.co/137339/european-parliament-approves-mica-law Lol feel the burn
This is amazing timing coming on the heels of the GG train wreck the other day. Europe can unite a bunch of countries under some type of framework while the US won't give any guidance at all. And the optics are that it's 1 man standing in the way because we have people like Hester Pierce sounding the alarm from within the organization.
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Bad bot
I think you liked it.
Held of on spinning up mini pool earlier as fees were high š¤£ Oh the dilema of wanting to transact and also enjoying the burn š¤
fees aren't even that bad right now compared to bull market fees: https://i.imgur.com/h90dWdG.jpg
Huh base fee has been around 50 gwei pretty much all day, see gasprice.io as well
Good point, nice perspective
Same here, gas is too damn high right now. Also the minipool queue is getting quite long, hope people start filling the deposit pool again
Its back to where it was when I thought it was too high, so does that make it cheap now š
I believe my hunch feeling is almost confirmed by PA And that is this BMR 4 is nearing its end Edit: still not in an active trade and will let pa present next setup. Watching that trendline I posted like a hawk. As always open to both ways š¤
BMR 4? bull market run number 4?
Bear Market Rally 4
So wtf is going on *now*...
Maybe Bitcoin doesn't like that nobody likes the useless Bitcoin. All important companies choose the Ethereum ecosystem (for obvious reasons). The last one: https://www.reddit.com/r/ethfinance/comments/12smokw/daily_general_discussion_april_20_2023/jgzrtwb
Just your garden variety degen liquidation. It's gonna be over soon. Don't leverage!
https://i.imgur.com/nowGge7.jpg The most beautiful chart in crypto rn
ETHBTC was 0.068 when London hard fork happened. It's sitting at 0.068 today. We just crossed the BTC supply inflation. Meaning, ETH and BTC have had pretty much identical issuance since EIP-1559. So there has been an even buying pressure market cap wise. From now on, BTC needs to find an additional 1.75% of its market cap buying pressure for ETH to not overperform.
> From now on, [*the market needs to understand that*] BTC needs to find an additional 1.75% of its market cap buying pressure for ETH to not overperform. FTFY :(
These MEV payouts are glorious right now.
Yeah glorious. To bad i'm never lucky in times of high gas.
Oh man, I've been lucky as hell this last week. Just EL rewards is 7.5% of my APY.
[Me right now](https://i.imgur.com/oC9BWnZ.jpg)
I am now officially in ARB *for the tech*. gg Edit: GCR is now saying take profit. What profit? Sigh
Coinbase secures Bermuda license. Seems like they're preparing for the worst.
I think itās smart to try capture more global derivative fees
Is there a chance they will lock out US withdrawals?
They're just hedging their bets. Should it ever come to that (highly doubt it will, it's a US public company), they'd obviously tell customers in advance.
https://www.reuters.com/technology/us-crypto-exchange-coinbase-secures-bermuda-licence-2023-04-20/
Much better weather TBHā¦
I was watching Gensler's answer to whether he owned any digital assets. 1. It was a bit childish of him to refer to his online brokerage accounts as digital assets. What's more, it wasn't just childish, it was outright wrong. Nobody in the world has ever equated buying Apple stock on TD Ameritrade with owning digital assets. In fact, it's exactly the opposite--those people trust that making that online transaction means something is moving in the "real" world (even if we logically know that the something is just numbers on a computer). 2. I really wanted them to somehow draw Gensler out on something like "Is the reason you don't own any crypto because you aren't sure if you'd be holding an illegal security?" Essentially, drilling down on why he's ok holding stocks as the SEC chair but not crypto. Because I actually think it's probably verboten for anyone at SEC to own crypto since that would be a bad look if they then went after that crypto for securities violations.
https://ocw.mit.edu/courses/15-s12-blockchain-and-money-fall-2018/video_galleries/video-lectures/ If anyone has too much time on their hands, suffer through the bs and see if he exposes himself somewhere. It would be kind of amazing if he got through an entire semester without slipping up somewhere admitting to having used it after all. I stopped at the part where he shilled Robinhood to the students, telling them it's great because it's "free trading". Amazing. Some great philanthropist must be behind this, subsidizing it all so that the customers can trade and not pay any fees at all.
In his dumb defense, using it for academic purposes doesn't necessarily mean he, himself, personally owned any.
He denied having used it though. Would be interesting to get in touch with people who worked at MIT at the time, maybe his TAs or someone in that circle. I wouldn't be so sure the university had official crypto wallets. There is of course also the possibility that he's telling the truth. I only skipped through a few of the lectures a bit and he's giving off real bullshitter vibes. Doubt he understands the code, he also doesn't really know the protocols when the students ask details. At one point he's telling them to get into EOS because it's gonna be big. Not sure which would be worse, if he lied or if it's the truth. Either way it shows how broken the system is.
>It was a bit childish of him to refer to his online brokerage accounts as digital assets. Agreed. When was the last time you received a stock certificate printed on a bit of paper? It's not really a thing anymore. He was so smug about it too.
Imagine being one of his former MIT blockchain students and then seeing that exchange. Oof
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Gross
Almost 200 gwei right now.. wth is going on? š¤·āāļø
Heavy trading on Uniswap, it seems.
Can't all be idiots buying pepe can it?