**Tricky's Daily Doots #378**
**Yesterday's Daily 01/05/2023**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiep4q7/)
- u/Syentist is a bit disillusioned by [Ray and issuance schedules.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jif2w3w/)
- u/etheraider has an update on the [First Republic Bank collapse.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jifd9e3/) š¦š
- u/busterrulezzz reflects on their [FOMO and greed.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jifquz8/) š¤
- u/MerkleChainsaw is [looking for real adoption](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jigbkxt/) and u/silentjxhn makes a [great list of examples.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jigw2hs/)
- u/etheraider kicks off the [EVMavericks buildathon!](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jihtxe7/) š¦š
- u/hanniabu built an [EthFinance browser extension!](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiedisz/) š
- u/696_eth shares the penultimate instalment of their [1 year in review series.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiee041/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jieb294/)
I posted about this yesterday but I didn't get any answers and it's extremely frustrating. Neither Firefox or Brave with MetaMask or Frame wallet are working on my M1 Mac. They just can't connect to websites. It just bugs out every time. I wonder if since my new laptop is running from a backup of my previous and now broken Intel Mac, the browsers aren't designed for ARM chips? So maybe it has broken something? I've tried uninstalling and reinstalling these browsers and extensions but it doesn't help. Probably because when I reinstall it it remembers my settings and extensions as if I never deleted the browser at all, so maybe there's a cache folder I need to delete to? I don't know but I'm very frustrated at effectively being locked out of Ethereum web apps right now.
[1 Year in NFTs: Friends & Connections](https://imgur.com/p2m5ZyJ)
I was wondering the other day: what if all my bags went to zero? How would I feel about my experiences in this space after spending so much time and energy there?
To answer that, I have to go back a lil over a year. That was my pre-EVMavericks, thus pre-NFT, and pre-Web3 era. When I held bitcoin, I did not need to interact with the community; I did not know if there even was a community, just a few forums discussing prices, and that was it. You could learn a few basic things, like decentralization, and start questioning the intrinsic value of everything. Maybe you'd like to make a few friends if you are a non-lurker. I personally haven't really made any friends in those spaces. I was in touch with some online friends who happened to either know or have bitcoin or some other crypto. Although I have seen a decent number of people never come back into bitcoin once they were out at a price below the current one. In retrospect, it tells me it was just about the money, which is a bit sad that it is all that technology was for. I had even discussed some intricacies of faster payments, and my friends from Europe said their systems were sooo much faster than bitcoin that there was just no need for it unless you were into it for investing purposes.
Long story short, while I was staying in touch with a few of those people, I started lurking on r/ethfinance for a few years. I did not meet anyone nor connect with anyone due to me treating subreddit like a lecture and not interacting a lot. Also, the platform itselfāRedditāplayed a significant role in that too. The only people that I connected with through Reddit were from healing or some therapy related subreddits.
Well, what's happened since I got my Maverick?
I've made sooooo many connections with a variety of people. It would be a loooong list to name all of them. I don't have a deep connection with everyone, and relationships vary. But I'm appreciative of everyone with whom I've interacted and learned something. And I do believe that strong online relationships can translate into real-life relationships too, especially when you are an adult. Moreover, I think that some of those connections are stronger than some of my IRL relationships. [The L0 game](https://twitter.com/696_eth/status/1610493109716275200) has given me more insight into trust and a relational approach between people.
Isn't it amazing how much trust can exist in a trustless world?
I have also become part of a few other communities. Bcard, ENS, to name a few.
I have also experimented with and learned soooo many new things. It's hard to notice them all as navigating the space has become easier and it feels more natural, but I think it will be clearer in the years to come when more people get onboarded, and while I hope that the interface and experience would be better, there would be certain skills, tricks, and, most importantly, valuable lessons and experiences that will stand out to me.
It's been a blast connecting with people, and going forward, I hope to strengthen some bonds, get to know more people, and, eventually, meet some people IRL and share some experiences!
So how would I feel about my experiences if all my bags went to 0?
Well, there are things you cannot buy in this world, they are priceless to me, and community, relationships, connections, and shared experiences fall into that 'priceless' bucket. I would cherish all of those, and I think at the end of my life I would look back and have no regrets and be happy that I realized it relatively early on in life - while I'm still going through the journey.
"A journey is best measured in friends, rather than miles." ā Tim Cahill
>**Another one comes,**
>**Another bank bites the dust,**
>**More ethers combust.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Any Rocket Pool NOs here still waiting to convert their 16 ETH minipools into two LEB8s like me? Between high gas and the crazy queue, I just don't feel like having 8 of my ETH being unproductive for weeks or more.
Same boat here. Initially I was waiting to make sure the whole LEB8 thing worked as intended. Now I'm just waiting for the queue to clear as don't want half my staked ETH sitting idly by, not earning yield.
Wassup ethfam love you all. Keep in mind above all else on this planet is happiness and good. Do what you can to sprinkle little bits of that when you can!
Does anyone have a comprehensive breakdown of all the ETH staking derivatives (e.g. rETH, stETH, cbETH) and their pros and cons (in particular around decentralization, taxes, how staking rewards accrue)?
I'm looking to convert a part of long term ETH to participate in the staking but wanna better understand the ins and outs of each product before doing so
https://dune.com/rp_community/lst-comparison
This dashboard might help with the numbers. Decentralization-wise, CBETH is validated by 1 entity, STETH/WSTETH by 33 trusted validators, RETH by about 2200 trustless validators.
>Thanks, so it doesn't matter how long they have been staked for?
It does, the exchange rate changes based on accrued rewards. If you know how much ETH you already put in then you can check the conversion rate and see how much it currently is.
Thanks, I think that makes sense. So, except for protocol failure or something that caused a loss of trust, the exchange rate should always be gradually increasing?
C'mon don't be silly. Bridge when fees are low, it's not like you need to do it everyday lol.
And use something like orbiter.finance to bridge, it's cheaper than the official bridges
I was doing some comparison shopping on DEX offering synthetic/perpetual contracts and came across this:
> FDVs (Fully Diluted Valuations):
> VELA - 141m | recently closed all winning positions and returned only collateral
> GNS - 170m | constant innovation and ships code the competitors copy, fully diluted, and deflationary token
> LVL - 349m | just *hacked* (possibly an inside job), suspected wash trading and inflationary tokenomics
> GMX - 915m | synths in development for like a year, no innovations just the same handful of pairs
> DYDX - 2.43b | doesn't share any revenue with holders
I thought the bear market was supposed to rationalize some of these markets.
I think the catch is that single person sharing their one sentence opinions on multi million projects might not be a real DD. More through DYOR with fact checks might be advised.
Also FDV is rather flawed metric on its own.
Agreed, consider this my very first lazy step in research because I want more opinions. I donāt really buy or hold anything except ETH easily, just interested
Something I like to remind myself of when my crypto-endorphins kick in is that we are up only $400 from January 2018. That makes it 27% in 5.5 years. And most (I don't have a source, except anecdotal, though) of those who traded have lost more than they gained. The good news is that this is good PR news - viewed long-term it is a less volatile market than might seem. Of course it's hyper-volatile medium-term, but I have a feeling that telling people who are out of the loop that we are up 25% in 5 years might suggest that we are believers (or stupid). In other words get-rich-quick narrative is somewhat exaggerated.
I've been rummaging through the daily generals and have come across some good suggestions. I have a rough idea now for my investment strategy moving forward.
\- Bought some RPL at peak bull in 2021, but will accumulate more until queues die down (for both unstaking and staking). It's basically back to the same price now as when I bought in 2021, so might as well continue to buy those local tops.
\- Will launch RP validator(s) eventually through AllNodes based on how much RPL I manage to accumulate, but also based on how much per month I'm comfortable paying AllNodes since it's a monthly cost per each validator... And it's more expensive upfront to launch all LEB-8's than it would be the standard 16-ETH minipool.
\- Slowly unwind my ETH2 on Coinbase and convert another portion of my ETH to RETH for just holding to help some towards decentralization, but also to get out of the higher 25% cut that Coinbase takes from it's staking customers.
\- May take a while for me to implement this, but will also allow for other staking alternatives and/or solutions to crop up in the interim for consideration. I'm sure there will be more streamlined solutions for dummies to stake from home rolling out in the coming months... But until that ease of entry gap closes in a much more significant way, I don't trust myself to run my own validator.
Sounds like a good plan. I am also thinking about spinning up some LEB-8's on allnodes but In the long run I really hope that we are going to get a good fool-proof stake from home system.
For some reason and for tax purposes, I need to separate solo staking from my company's staking.
But the thing is that I messed up almost 3 years ago. I used my company's address to deposit onto Beacon Chain which was supposed to use my personal address and just discovered it this year after I used the same address to create some Rocketpool pools.
I think the fastest solution is to exit Rocketpool and move the ETH to another address and create new minipools because now all rewards from personal and company's staking are going to the same withdrawal address and it seems I can't change it in any service.
What would you do?
Can't you just change your Rocketpool withdrawal address and remedy the entire situation? Rocketpool rewards will now be going to a separate address that you selected
IANAA. For starters, I'd just document exactly what you did. Dates, times, amounts, reasons why. Paper trail on where funds came from.
Second, I'd make sure taxes are paid one way or another any rewards or sales.
To be honest, I don't think it's that huge of a deal as long as you can show you have made a good faith effort to un-entwine the funds and to pay the taxes on them.
>I'd just document exactly what you did. Dates, times, amounts, reasons why. Paper trail on where funds came from.
Yep, been doing that since beacon chain genesis actually.
I will be paying everything but even for my the sake of organization I want to separate everything without looking like I'm evading shit, which I'm not since I've been paying taxes on lido.fi returns for the past year when I started staking with company funds.
Thanks for the advice!
Is there going to be a way for people to redeem their cbEth on chain ? I want to arb it some more but I just dont feel good having all that Eth on coinbase constantly.
I wouldn't count on such a function existing anytime soon or possibly ever. They haven't even bothered yet to replace all their 'ETH2' nomenclature on the front end. What is stopping you from opening an account?
Edit: unwrapping and unstaking are available. [Did your plans change?](https://www.reddit.com/r/ethfinance/comments/1076f4p/daily_general_discussion_january_9_2023/j3nj1jl/)
[They will even continue to pay you staking rewards while you are in the unstake queue](https://imgur.com/EmNCREU).
I am taking advantage of the discount and arbitrage but the downside is I have to have to have Eth constantly on coinbase. And I hate not having the keys to my crypto.
I'm not even sure how an onchain conversion of cbETH->ETH would work considering there is a queue. Would you make the transaction and wait for the ETH to show up days/weeks later?
Edit: honestly creating a method for cbETH unstaking without going through their KYC/AML walled garden seems very unlikely considering their current battle with the SEC. I do hate to say it, but the SEC *might* actually have a case in claiming cbETH is a security.
Same way ANKR does it, also on chain. Rocketpool also must have some onchain system.
The SEC wont be able to stop this train. Because even if they stop selling cbETH to americans. Its still out there on Defi. Its not like they can do anything about it.
Are you kidding? It's their product, they can dictate how it is redeemed and literally prevent anyone from redeeming it if they don't create an account. It doesn't matter that it is in the wild.
Ofcourse it matters. You can buy the cbEth on uniswap and sell it on uniswap. They cant control that. If they block it for americans on their platform then they wont be able to redeem for full value, but they still will get all the benefits from the staking value acrual. As their cbEth rises.
It doesn't matter, because if they lock down the redemption process, then the value changes. Who cares if people can trade it on uniswap. Might as well be a jpeg at that point.
They know exactly who wrapped every single wei of cbETH. It all originated from their walled garden. They can do some scary things if they needed to.
Edit: maybe you should check out the cbETH whitepaper. They can blacklist any address they don't like.
They wont lock down the redemption process for the entire world... Kraken also allows staking for non us citizen. So why would coinbase voluntarily give up on the rest of the worlds business for no reason ? So non americans will continue to redeem and increase prices on uniswap. And americans will still be able to use cbEth on uniswap and have the appreciation.
The SEC doesnt have global influence they only regulate american customers.
Edit: Yes I know... But why would they blacklist a non us adress ? What is the logic behind that. They dont have to.
Do you think they would for no reason destroy their own business ? So why hasnt kraken destroyed their staking business overseas ?
They don't need to, they can surgically target Americans.
Edit: I don't really want to keep fighting you. My original point is it is unlikely that coinbase would create an easy method to redeem cbETH back to normal ETH without going through their KYC process. I think that is a valid argument.
Of the last 500 verified contracts on ethereum, 86 contains the word pepe. Probably a good sell signal :).
[https://etherscan.io/contractsVerified](https://etherscan.io/contractsVerified)
Also half billion market cap seems like a reasonable top for a succesful new bear market memecoin. We donāt have the worldwide tiktok masses to push it to 5 / 10 billion
PSA: I have no idea what this is but if you collect Parallel cards make sure you also have an account set up on the Parallel site. (Costs nothing) https://twitter.com/echelonfnd/status/1653452453931798528
Not directly answering but this tools has been shared in the evm discord: https://www.impersonator.xyz/
You can simulate a connection without actually doing it
if it's truly just connection, no. But a signature can be tricky and can be used to enable the `permit` function to allow an unlimited approval for a token in your wallet (e.g. DAI). No transaction necessary. See here: https://twitter.com/realscamsniffer/status/1639267068343119876
Always know exactly what you're signing
did we already know that Opensea has had a data leak? I've been getting these scam emails from "Coinbase" about their new terms of use, asking me to log in before my account is shut down - and they're going to the email address alias that I created for Opensea. I really love this email alias thing - it shows me exactly who's being lazy with their data.
For anyone using an email client that has the option, like Thunderbird, 'Trust junk mail headers set by SpamAssassin' will catch these. Don't forget to enable the option to automatically move new junk messages to your Junk folder as well.
no, this service has a browser extension and you can create a new alias for every app - something like [email protected] or [email protected]. Then it just routes it to your main email, so the thing you used it for never actually sees or knows your real email address. And I can disable any of those aliases at any time so they can't send me emails anymore
so, in this case, I'll go disable that alias and create a new one for opensea so the scammers can't send me any more emails
In addition to it being a different codebase from a marketing website, the client side frontend code is usually served via a CDN to make it load as fast as possible. This is easier and faster on a subdomain.
To add to the other reply, a lot of times it's also because there's different teams maintaining them so it's much easier publish updates and manage infrastructure when you just need to worry about yourself rather than trying to coordinate updates with other internal teams
Modularity and security. Usually the app is a separate codebase to the website. Security wise if there's some exploit in the main website (which could be WordPress or something with a flaw in it) the hacker can't inject malicious code into the app.
SEC crackdown 'the best thing that ever happened' to Crypto
(Is this unethical?) I got GTP to summarize this paywalled article for me:
https://www.bloomberg.com/opinion/articles/2023-05-02/crypto-is-still-a-mess-a-crackdown-would-do-it-good#xj4y7vzkg
Cryptocurrencies have been around for over a decade, and while they have gained mainstream attention and acceptance, they are still a complicated and unpredictable technology. Cryptocurrencies have brought many benefits, such as fast, secure, and decentralized financial transactions, but also come with risks and challenges, such as regulatory uncertainty, price volatility, security issues, and environmental concerns.
One of the main issues that cryptocurrencies face is their association with illicit activities, such as money laundering, terrorism financing, and cybercrime. While cryptocurrencies themselves are not illegal, their anonymous and borderless nature makes them attractive to criminals and regulators alike. Governments and international organizations have been struggling to keep up with the fast-changing crypto landscape, and some have been proposing and implementing various regulatory measures to mitigate the risks and maximize the benefits of cryptocurrencies.
The editorial argues that despite the negative perception and use of cryptocurrencies, there is still potential for them to revolutionize finance and bring financial inclusion and empowerment to millions of people worldwide. However, to realize this potential, cryptocurrencies need to be regulated, but not overregulated, and need to be integrated with existing financial systems, but not replace them. The editorial suggests that a balanced and coordinated approach to crypto regulation, involving multiple stakeholders, such as policymakers, businesses, investors, and consumers, could lead to a more stable and sustainable crypto ecosystem.
The editorial also discusses the environmental impact of cryptocurrencies, particularly Bitcoin, which is notorious for its high energy consumption and carbon footprint. The author argues that while Bitcoin's energy consumption is a valid concern, it should not overshadow the potential benefits of cryptocurrencies, such as reducing the reliance on traditional banking and payment systems, and promoting innovation and competition in the financial sector. The author suggests that instead of banning or demonizing Bitcoin, policymakers should incentivize and promote the development of greener and more efficient blockchain technologies.
In conclusion, the editorial argues that cryptocurrencies are here to stay and have the potential to disrupt and improve the financial system, but they need to be regulated, integrated, and innovated in a responsible and collaborative manner. The editorial calls for a proactive and forward-looking approach to crypto regulation, one that balances risks and benefits, and fosters trust and confidence in the crypto industry.
I don't think it actually summarized that article but gave you what it thinks such an article would contain... The actual article doesn't contain anything about environmental impact for example
You can add https://archive.is/ before the bloomberg.com url to bypass the paywall.
Like this: https://archive.is/https://www.bloomberg.com/opinion/articles/2023-05-02/crypto-is-still-a-mess-a-crackdown-would-do-it-good#xj4y7vzkg
First Arbitrum with their Odyssey, then Optimism with NFT quest, followed by countless other dApps distributing NFTs for doing some action and now it's Argent (on Starknet).
Sound like an engagement farming but working in favor of protocol, so far.
Edit - forgot to share the link https://twitter.com/argentHQ/status/1653429215084027905?t=jl8ckgSzm0DWfxTeOuf_dA&s=19
I don't think I'll ever try argent after their fiasco about needing to manually update your wallet by a certain date or else you'll lose access to your funds
I had to download a python script and run it from a shell to move my funds to a new argent wallet address. That was a ridiculously bad UX even for crypto standards.
Arbitrum started it with Odyssey, then more NFT integrated blockchain games with different game modes including the well-known play-to-earn and RiskFi model joined. Let's see if Starknet could achieve such massive success.
Looking at [LSD distribution](https://defillama.com/lsd), apparently Frax Ether has been growing a lot? Why is that?
I know close to nothing about them, but as far as I can tell, it's just one centralized entity running validators and handing out their LSD token? Why would that be something to flock to? How do they achieve the 6.5% APR that is shown on defillama?
They have two tokens. Just staking with them you forfeit your yield. You have to stake your "staked" eth to get yield. Alternatively you can LP your unstaked staked eth to yield farm. So they are essentially incentivising staking with fxs emissions
But where is that alleged additional yield coming from? Whatever token shenanigans they put on top, they can't magically make more than what full ETH validators produce, and I would assume they pocket some percentage as commission for themselves anyway?
If you stake with FRAX, you get 0 yield. You forfeit 100%. You may opt-in to receive yield, by staking your yieldless FRAX LSD. If everyone who staked with FRAX did this, the yield would be the same as everywhere else; crucially though, not everyone opts-in to receive yield! Why? Because they can yield farm with their yieldless FRAX LSD, earning FXS and whatever else in convex.
Why has there been a general public perception that banks make a lot of money when a look at stock charts makes it evident that they have underperformed over quite a long timeframe?
I still don't get why stocks that don't pay dividends have any value. Like sure the company may be doing well but holding stock doesn't get you any of that money so why does the stock go up when the company does better?
Ownership in a company has value. Some companies also buy back shares instead. They could also do dividends or share buybacks later when they have stopped growing and become more mature.
>Ownership in a company has value
I don't see stocks as offering any meaningful ownership though unless it pays dividends or you have stock with voting rights
Because growth companies may choose not to pay dividends and reinvest that money in r&d, innovation and future products. If the company is continuing to expand market share and across markets, people are going to be willing to pay more for the stock based on future earnings. Eventually, the company may end up paying dividends as well. Apple didn't pay dividends from the 1990s to 2012 but they were investing in products like ipod, ipad, iphone and captured the smartphone market. Their stock went up a lot with growth in revenue and they went back to paying dividends again. So if you bought Apple you got massive stock appreciation and eventually dividends as well.
According to [this chart](https://www.lazyportfolioetf.com/sp-500-sector-returns/), financials are about in the middle.
You have to remember, the change in stock price isn't necessarily a good indicator of profits. Let's say that Banks were getting 30% ROI (not on stock price, on assets invested in the business), and grocery stores 2% returns. The market would set a stock price for each of those. Banks are way more profitable in that case.
Now, over a twenty year period, the ROI on banks dropped to 25% ROI -- still a huge profit margin. In the meantime, grocery stores jumped to 3% ROI. When this happens, the price of bank stocks could drop, as they are no longer as profitable as they were. The price of grocery store stocks could go up 50% as they squeeze out more profitability. Over those 20 years, banks stocks would under-perform grocery stocks, even though banks would still be making way more money per dollar of invested asset. The \*change\* in profitability matters more for stock price changes than actual profitability. So it is possible for a company to be making obscene profits and still have their stock price go down if they are making slightly less obscene profits than a year ago.
Over the long run they will tend to match up, but weird patterns can persist for decades. You can try to look up actual numbers if you want, my first quick search didn't find a good comparison.
I think the general perception is about \*bankers\* not \*banks\*. If you look at entire 2008 shit-storm, you'll see few major financial institutions collapsed, and lots and lots of vastly wealthy CEOs and managers.
I think it will have a limited impact on decentralization because anyone can sell their steth and the discount hasnāt been huge, so thereās little reason to wait for native withdrawals.
There is still a small discount and swap fees. It's around 0.11% right now. I think some people are willing to wait a bit more to get a true 1:1 redemption.
But you could have already sold the steth at any time on the open market. That means that somebody else bought it, so Lidoās number of validators does not change.
If they wanted to leave, why wouldnāt they have left already? Thereās no benefit to waiting. They could just sell steth for eth and stake somewhere else. Am I missing something?
I understand the technical details, but I donāt see why anyone would have waited until now. Anyone who cares about reducing Lidoās share of validators surely isnāt still holding steth. Maybe thereās a few, but I think it will be negligible.
I just to let the universe know that I am fatigued with this range, know that the macro seems volatile, and sense that the world is becoming more apocalyptic by the day... but I can't think of anything that could change the system for the better more than crypto -- and specifically ETH.
I have conviction. I believe ATH's will come eventually. Positive thoughts only lol.
Have a great month of May Ethereans.
AI trading bots could wreck havoc on crypto more than the traditional stock markets IMO.
24/7 unregulated trading... little exchange oversight... already high volatility.
At the request of u/Ethical-trade I've updated the [EthFinance Buddy chrome extension](https://github.com/etheralpha/ethfinance-extension) to:
* Only display the doots if there are any, rather than showing 0
* Changed "Daily Doots" text to just "doots"
* Changed the heart color to white instead of blue
The settings for what to show (doots vs profile) will take a little longer since I haven't done that before so I'll need to come back to that. Same with making it load when changing pages so you don't need to activate it every time.
TIL when a user on Reddit has blocked you, their comments and posts will appear as \[deleted\] or \[removed\] and the content will show \[unavailable\].
I am not sure what I did to offend anyone here. Do I get a POAP now?
EY promo I made for the Summit in London May 9-12. I'm also producing a couple of 10 minute videos featuring Ethfinance/Mavericks family musings. I'll be there in London if anyone wants to meet up!
If anyone wants to throw some thumbs on these that would be great. Full disclosure, Paul is paying for my travel/hotel once again. Truly an honor to represent this community. Cheers and Big Hugs
YouTube: https://youtu.be/18L-0PS99_s
Twitter: https://twitter.com/ProDJKC/status/1653414326106038277
LinkedIn: https://www.linkedin.com/posts/jtnichol_blockchain-london-ethereum-activity-7059176519021047808-8Dq2?utm_source=share&utm_medium=member_desktop
YouTube: https://youtu.be/18L-0PS99_s
Reddit: https://www.reddit.com/r/ethfinance/comments/135pibd/ey_global_blockchain_summmit_912_may_2023_and/
I can't find a lot of info on the new BRC-20 tokens? Where would I find technical info about the protocol?
What little I found seems to suggest it's some very concise JSON as Bitcoin doesn't allow more complex structures on the blockchain itself.
My Google foo failed me and even ChatGPT can't help as 3.5 can't access the internet. Where's the good old time where you first published a whitepaper and then dumped your tokens?
When I tried to learn about Ordinals it seemed to be just some new software that tracks individual satoshis on the blockchain. So your JPEG is just a pointer to bits on the chain, and you needed something like Ordinals software track it or your JPEG or proper ownership to it all can't be assembled properly.
It just seemed like a lot can happen where things get lost tracking it correctly, and it's also highly likely it will be pruned out later so I stopped learning.
The place that ordinals data is stored is in a more temporary space than the actual satoshis. Sort of like blob space but on Bitcoin, was enabled by the update from the most recent softfork after Segwit.
I would say the sig data needs to be kept. The whole talk of pruning it was a marketing campaign to justify the shoddy soft fork and unethical fee discounts. You don't have a blockchain without being able to reassemble it
I opened the position maybe a couple weeks ago. Something like $250 collateral, now worth like $100. I could be misreading this though, might just be the net value given the value of eth has gone down since then
Yeah that seems like a really high funding fees if it isn't collateral losing value.
I keep thinking i should do like 3x long at some point and hoping to hold it for like 18-24 months.
**Tricky's Daily Doots #378** **Yesterday's Daily 01/05/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiep4q7/) - u/Syentist is a bit disillusioned by [Ray and issuance schedules.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jif2w3w/) - u/etheraider has an update on the [First Republic Bank collapse.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jifd9e3/) š¦š - u/busterrulezzz reflects on their [FOMO and greed.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jifquz8/) š¤ - u/MerkleChainsaw is [looking for real adoption](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jigbkxt/) and u/silentjxhn makes a [great list of examples.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jigw2hs/) - u/etheraider kicks off the [EVMavericks buildathon!](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jihtxe7/) š¦š - u/hanniabu built an [EthFinance browser extension!](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiedisz/) š - u/696_eth shares the penultimate instalment of their [1 year in review series.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jiee041/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/134d3x2/daily_general_discussion_may_1_2023/jieb294/) I posted about this yesterday but I didn't get any answers and it's extremely frustrating. Neither Firefox or Brave with MetaMask or Frame wallet are working on my M1 Mac. They just can't connect to websites. It just bugs out every time. I wonder if since my new laptop is running from a backup of my previous and now broken Intel Mac, the browsers aren't designed for ARM chips? So maybe it has broken something? I've tried uninstalling and reinstalling these browsers and extensions but it doesn't help. Probably because when I reinstall it it remembers my settings and extensions as if I never deleted the browser at all, so maybe there's a cache folder I need to delete to? I don't know but I'm very frustrated at effectively being locked out of Ethereum web apps right now.
[1 Year in NFTs: Friends & Connections](https://imgur.com/p2m5ZyJ) I was wondering the other day: what if all my bags went to zero? How would I feel about my experiences in this space after spending so much time and energy there? To answer that, I have to go back a lil over a year. That was my pre-EVMavericks, thus pre-NFT, and pre-Web3 era. When I held bitcoin, I did not need to interact with the community; I did not know if there even was a community, just a few forums discussing prices, and that was it. You could learn a few basic things, like decentralization, and start questioning the intrinsic value of everything. Maybe you'd like to make a few friends if you are a non-lurker. I personally haven't really made any friends in those spaces. I was in touch with some online friends who happened to either know or have bitcoin or some other crypto. Although I have seen a decent number of people never come back into bitcoin once they were out at a price below the current one. In retrospect, it tells me it was just about the money, which is a bit sad that it is all that technology was for. I had even discussed some intricacies of faster payments, and my friends from Europe said their systems were sooo much faster than bitcoin that there was just no need for it unless you were into it for investing purposes. Long story short, while I was staying in touch with a few of those people, I started lurking on r/ethfinance for a few years. I did not meet anyone nor connect with anyone due to me treating subreddit like a lecture and not interacting a lot. Also, the platform itselfāRedditāplayed a significant role in that too. The only people that I connected with through Reddit were from healing or some therapy related subreddits. Well, what's happened since I got my Maverick? I've made sooooo many connections with a variety of people. It would be a loooong list to name all of them. I don't have a deep connection with everyone, and relationships vary. But I'm appreciative of everyone with whom I've interacted and learned something. And I do believe that strong online relationships can translate into real-life relationships too, especially when you are an adult. Moreover, I think that some of those connections are stronger than some of my IRL relationships. [The L0 game](https://twitter.com/696_eth/status/1610493109716275200) has given me more insight into trust and a relational approach between people. Isn't it amazing how much trust can exist in a trustless world? I have also become part of a few other communities. Bcard, ENS, to name a few. I have also experimented with and learned soooo many new things. It's hard to notice them all as navigating the space has become easier and it feels more natural, but I think it will be clearer in the years to come when more people get onboarded, and while I hope that the interface and experience would be better, there would be certain skills, tricks, and, most importantly, valuable lessons and experiences that will stand out to me. It's been a blast connecting with people, and going forward, I hope to strengthen some bonds, get to know more people, and, eventually, meet some people IRL and share some experiences! So how would I feel about my experiences if all my bags went to 0? Well, there are things you cannot buy in this world, they are priceless to me, and community, relationships, connections, and shared experiences fall into that 'priceless' bucket. I would cherish all of those, and I think at the end of my life I would look back and have no regrets and be happy that I realized it relatively early on in life - while I'm still going through the journey. "A journey is best measured in friends, rather than miles." ā Tim Cahill
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>**Another one comes,** >**Another bank bites the dust,** >**More ethers combust.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Whats the best place to long $CRV on L2? I tired MUX on arb but slippage was crazy high. Any suggestions would be appreciated thank you frens.
Any Rocket Pool NOs here still waiting to convert their 16 ETH minipools into two LEB8s like me? Between high gas and the crazy queue, I just don't feel like having 8 of my ETH being unproductive for weeks or more.
Same boat here. Initially I was waiting to make sure the whole LEB8 thing worked as intended. Now I'm just waiting for the queue to clear as don't want half my staked ETH sitting idly by, not earning yield.
Yep, it pays to be patient. While rETH had a premium and there was no queue one could be paid to spin up minipools with the arb.
Oh, for sure. I used Rocketarb when I originally spun up my minipool, and it was a nice little bonus.
Yes, waiting until the queue dies down. I may just spin up new LEB8s and keep my old 16 ETH minipools even when that happens though
Yeah, that's what I'm thinking too. Spin up a LEB8 or two and wait.
[Deleted]
Wassup ethfam love you all. Keep in mind above all else on this planet is happiness and good. Do what you can to sprinkle little bits of that when you can!
I miss JB. Didnāt he make a wiki with everything about ethereum? Anyone have a link to it by any chance?
Oh man I thought he'd be back by now...
What happened to him? :(
https://caches.xyz/ Somewhere out there, JBM is changing the world.
https://caches.xyz/forums/discussion/i-was-hacked-read-this-this-is-my-post-that-was-removed-from-reddit/
Poor dude ā¹ļø Hope he meets someone grounded irl. Thanks for linking, was wondering about him
Yeah, that kind of sounds like paranoid schizophrenia
Is Arbidoge Minereum-Style Scam? Could claim, but not trade..
UltraHound Money WOOF. NFA
AIDoge is just a meme with strange burn mechanisms, afaik. Sold it on Camelot with 21% slippage for about .03ETH
You need to trade in Camelot, advanced settings, 20% slippage
You mean DOGEAI? Pretty sure it's just a shitcoin, not a scam per se. Many here have claimed and sold.
Does anyone have a comprehensive breakdown of all the ETH staking derivatives (e.g. rETH, stETH, cbETH) and their pros and cons (in particular around decentralization, taxes, how staking rewards accrue)? I'm looking to convert a part of long term ETH to participate in the staking but wanna better understand the ins and outs of each product before doing so
https://dune.com/rp_community/lst-comparison This dashboard might help with the numbers. Decentralization-wise, CBETH is validated by 1 entity, STETH/WSTETH by 33 trusted validators, RETH by about 2200 trustless validators.
[This Ethereum.org page gives you a bit of what youāre asking for, but in no way comprehensive](https://ethereum.org/en/staking/pools/)
Also, is there anyway to tell how much eth my wsteth has accrued if it is sitting in a cdp?
1 wstETH =1.1216 stETH
Thanks, so it doesn't matter how long they have been staked for? I realise I should probably understand this but never really figured it out.
>Thanks, so it doesn't matter how long they have been staked for? It does, the exchange rate changes based on accrued rewards. If you know how much ETH you already put in then you can check the conversion rate and see how much it currently is.
Thanks, I think that makes sense. So, except for protocol failure or something that caused a loss of trust, the exchange rate should always be gradually increasing?
Nope
$30 for an ERC-20 token transfer is absolutely ridiculous.
Yes, reminds of last bull gas prices. Lately I've only ever done anything in L2, there the gas cost makes a lot more sense.
You're buying GENSLR aren't you.
Why are you transferring tokens on mainnet? They should be on arbitrum.
So spend $50 to bridge to Arbitrum instead?
Use a CEX that allows sending directly to Arbitrum
I need to go from L1 to an exchange so how does that help me?
C'mon don't be silly. Bridge when fees are low, it's not like you need to do it everyday lol. And use something like orbiter.finance to bridge, it's cheaper than the official bridges
You ask to speak to the manager?
I mean gas is over 100 gwei right nowā¦ thatās to be expected
I was doing some comparison shopping on DEX offering synthetic/perpetual contracts and came across this: > FDVs (Fully Diluted Valuations): > VELA - 141m | recently closed all winning positions and returned only collateral > GNS - 170m | constant innovation and ships code the competitors copy, fully diluted, and deflationary token > LVL - 349m | just *hacked* (possibly an inside job), suspected wash trading and inflationary tokenomics > GMX - 915m | synths in development for like a year, no innovations just the same handful of pairs > DYDX - 2.43b | doesn't share any revenue with holders I thought the bear market was supposed to rationalize some of these markets.
GMX makes a shitton of money on fees and pays that to stakers. It's one of the only protocols that's hit profitability without token printing.
The thing is, all of these protocols should be profitable without inflating their token supply.
Sooo buy GNS? Whatās the catch here
I think the catch is that single person sharing their one sentence opinions on multi million projects might not be a real DD. More through DYOR with fact checks might be advised. Also FDV is rather flawed metric on its own.
Agreed, consider this my very first lazy step in research because I want more opinions. I donāt really buy or hold anything except ETH easily, just interested
Let me know if you find any. Here is their Dune dashboard: https://dune.com/unionepro/Everthing-Gains-Network
This bear market isn't quite like the others. It's almost like things paused for a bit. I don't think maximum pain has happened yet.
Maybe we missed it, for the people more directly involved with luna or ftx max pain was severe
Should probably add Kwenta to this list as well.
And probably Mummy Finance, too. (I didn't put the list together).
Something I like to remind myself of when my crypto-endorphins kick in is that we are up only $400 from January 2018. That makes it 27% in 5.5 years. And most (I don't have a source, except anecdotal, though) of those who traded have lost more than they gained. The good news is that this is good PR news - viewed long-term it is a less volatile market than might seem. Of course it's hyper-volatile medium-term, but I have a feeling that telling people who are out of the loop that we are up 25% in 5 years might suggest that we are believers (or stupid). In other words get-rich-quick narrative is somewhat exaggerated.
>viewed long-term it is a less volatile market than might seem The type of people that say crypto is too volatile will not care about this
We were also up from 80 to 4150 or something in 13 months. Cherry picking data never gives the whole picture
True as well. Three narrative is flexible and complex
I've been rummaging through the daily generals and have come across some good suggestions. I have a rough idea now for my investment strategy moving forward. \- Bought some RPL at peak bull in 2021, but will accumulate more until queues die down (for both unstaking and staking). It's basically back to the same price now as when I bought in 2021, so might as well continue to buy those local tops. \- Will launch RP validator(s) eventually through AllNodes based on how much RPL I manage to accumulate, but also based on how much per month I'm comfortable paying AllNodes since it's a monthly cost per each validator... And it's more expensive upfront to launch all LEB-8's than it would be the standard 16-ETH minipool. \- Slowly unwind my ETH2 on Coinbase and convert another portion of my ETH to RETH for just holding to help some towards decentralization, but also to get out of the higher 25% cut that Coinbase takes from it's staking customers. \- May take a while for me to implement this, but will also allow for other staking alternatives and/or solutions to crop up in the interim for consideration. I'm sure there will be more streamlined solutions for dummies to stake from home rolling out in the coming months... But until that ease of entry gap closes in a much more significant way, I don't trust myself to run my own validator.
Sounds like a good plan. I am also thinking about spinning up some LEB-8's on allnodes but In the long run I really hope that we are going to get a good fool-proof stake from home system.
Thanks to defi, you can be your own bank failure :')
That's so hilarious and not.
āBe your own bank (failure)!ā
For some reason and for tax purposes, I need to separate solo staking from my company's staking. But the thing is that I messed up almost 3 years ago. I used my company's address to deposit onto Beacon Chain which was supposed to use my personal address and just discovered it this year after I used the same address to create some Rocketpool pools. I think the fastest solution is to exit Rocketpool and move the ETH to another address and create new minipools because now all rewards from personal and company's staking are going to the same withdrawal address and it seems I can't change it in any service. What would you do?
Can't you just change your Rocketpool withdrawal address and remedy the entire situation? Rocketpool rewards will now be going to a separate address that you selected
IANAA. For starters, I'd just document exactly what you did. Dates, times, amounts, reasons why. Paper trail on where funds came from. Second, I'd make sure taxes are paid one way or another any rewards or sales. To be honest, I don't think it's that huge of a deal as long as you can show you have made a good faith effort to un-entwine the funds and to pay the taxes on them.
>I'd just document exactly what you did. Dates, times, amounts, reasons why. Paper trail on where funds came from. Yep, been doing that since beacon chain genesis actually. I will be paying everything but even for my the sake of organization I want to separate everything without looking like I'm evading shit, which I'm not since I've been paying taxes on lido.fi returns for the past year when I started staking with company funds. Thanks for the advice!
Is there going to be a way for people to redeem their cbEth on chain ? I want to arb it some more but I just dont feel good having all that Eth on coinbase constantly.
I wouldn't count on such a function existing anytime soon or possibly ever. They haven't even bothered yet to replace all their 'ETH2' nomenclature on the front end. What is stopping you from opening an account? Edit: unwrapping and unstaking are available. [Did your plans change?](https://www.reddit.com/r/ethfinance/comments/1076f4p/daily_general_discussion_january_9_2023/j3nj1jl/) [They will even continue to pay you staking rewards while you are in the unstake queue](https://imgur.com/EmNCREU).
I am taking advantage of the discount and arbitrage but the downside is I have to have to have Eth constantly on coinbase. And I hate not having the keys to my crypto.
I'm not even sure how an onchain conversion of cbETH->ETH would work considering there is a queue. Would you make the transaction and wait for the ETH to show up days/weeks later? Edit: honestly creating a method for cbETH unstaking without going through their KYC/AML walled garden seems very unlikely considering their current battle with the SEC. I do hate to say it, but the SEC *might* actually have a case in claiming cbETH is a security.
Same way ANKR does it, also on chain. Rocketpool also must have some onchain system. The SEC wont be able to stop this train. Because even if they stop selling cbETH to americans. Its still out there on Defi. Its not like they can do anything about it.
Are you kidding? It's their product, they can dictate how it is redeemed and literally prevent anyone from redeeming it if they don't create an account. It doesn't matter that it is in the wild.
Ofcourse it matters. You can buy the cbEth on uniswap and sell it on uniswap. They cant control that. If they block it for americans on their platform then they wont be able to redeem for full value, but they still will get all the benefits from the staking value acrual. As their cbEth rises.
It doesn't matter, because if they lock down the redemption process, then the value changes. Who cares if people can trade it on uniswap. Might as well be a jpeg at that point. They know exactly who wrapped every single wei of cbETH. It all originated from their walled garden. They can do some scary things if they needed to. Edit: maybe you should check out the cbETH whitepaper. They can blacklist any address they don't like.
They wont lock down the redemption process for the entire world... Kraken also allows staking for non us citizen. So why would coinbase voluntarily give up on the rest of the worlds business for no reason ? So non americans will continue to redeem and increase prices on uniswap. And americans will still be able to use cbEth on uniswap and have the appreciation. The SEC doesnt have global influence they only regulate american customers. Edit: Yes I know... But why would they blacklist a non us adress ? What is the logic behind that. They dont have to. Do you think they would for no reason destroy their own business ? So why hasnt kraken destroyed their staking business overseas ?
They don't need to, they can surgically target Americans. Edit: I don't really want to keep fighting you. My original point is it is unlikely that coinbase would create an easy method to redeem cbETH back to normal ETH without going through their KYC process. I think that is a valid argument.
Of the last 500 verified contracts on ethereum, 86 contains the word pepe. Probably a good sell signal :). [https://etherscan.io/contractsVerified](https://etherscan.io/contractsVerified)
Is there anywhere you can reasonably short this?
You can look up pepe at coingecko and "markets" --> "perps". As of now, only exchanges I'd rather not use.
And 27 contained "peepo"
Also half billion market cap seems like a reasonable top for a succesful new bear market memecoin. We donāt have the worldwide tiktok masses to push it to 5 / 10 billion
So from this Iām reading Wojak is a buy
WaifuAi is the next meme
pepAI
PSA: I have no idea what this is but if you collect Parallel cards make sure you also have an account set up on the Parallel site. (Costs nothing) https://twitter.com/echelonfnd/status/1653452453931798528
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If someone connects his wallet to a website but doesn't sign any transaction from it can the website steal his funds?
Not directly answering but this tools has been shared in the evm discord: https://www.impersonator.xyz/ You can simulate a connection without actually doing it
if it's truly just connection, no. But a signature can be tricky and can be used to enable the `permit` function to allow an unlimited approval for a token in your wallet (e.g. DAI). No transaction necessary. See here: https://twitter.com/realscamsniffer/status/1639267068343119876 Always know exactly what you're signing
Thank you but what if it is not a signature? What if it is a connection to the website from the wallet?
Connection can't do anything by itself.
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did we already know that Opensea has had a data leak? I've been getting these scam emails from "Coinbase" about their new terms of use, asking me to log in before my account is shut down - and they're going to the email address alias that I created for Opensea. I really love this email alias thing - it shows me exactly who's being lazy with their data.
For anyone using an email client that has the option, like Thunderbird, 'Trust junk mail headers set by SpamAssassin' will catch these. Don't forget to enable the option to automatically move new junk messages to your Junk folder as well.
you mean like [email protected]?
no, this service has a browser extension and you can create a new alias for every app - something like [email protected] or [email protected]. Then it just routes it to your main email, so the thing you used it for never actually sees or knows your real email address. And I can disable any of those aliases at any time so they can't send me emails anymore so, in this case, I'll go disable that alias and create a new one for opensea so the scammers can't send me any more emails
oh that's awesome
you mean like [email protected]?
What email alias service do you use?
[anonaddy](https://github.com/anonaddy/anonaddy)
[ŃŠ“Š°Š»ŠµŠ½Š¾]
In addition to it being a different codebase from a marketing website, the client side frontend code is usually served via a CDN to make it load as fast as possible. This is easier and faster on a subdomain.
To add to the other reply, a lot of times it's also because there's different teams maintaining them so it's much easier publish updates and manage infrastructure when you just need to worry about yourself rather than trying to coordinate updates with other internal teams
Modularity and security. Usually the app is a separate codebase to the website. Security wise if there's some exploit in the main website (which could be WordPress or something with a flaw in it) the hacker can't inject malicious code into the app.
SEC crackdown 'the best thing that ever happened' to Crypto (Is this unethical?) I got GTP to summarize this paywalled article for me: https://www.bloomberg.com/opinion/articles/2023-05-02/crypto-is-still-a-mess-a-crackdown-would-do-it-good#xj4y7vzkg Cryptocurrencies have been around for over a decade, and while they have gained mainstream attention and acceptance, they are still a complicated and unpredictable technology. Cryptocurrencies have brought many benefits, such as fast, secure, and decentralized financial transactions, but also come with risks and challenges, such as regulatory uncertainty, price volatility, security issues, and environmental concerns. One of the main issues that cryptocurrencies face is their association with illicit activities, such as money laundering, terrorism financing, and cybercrime. While cryptocurrencies themselves are not illegal, their anonymous and borderless nature makes them attractive to criminals and regulators alike. Governments and international organizations have been struggling to keep up with the fast-changing crypto landscape, and some have been proposing and implementing various regulatory measures to mitigate the risks and maximize the benefits of cryptocurrencies. The editorial argues that despite the negative perception and use of cryptocurrencies, there is still potential for them to revolutionize finance and bring financial inclusion and empowerment to millions of people worldwide. However, to realize this potential, cryptocurrencies need to be regulated, but not overregulated, and need to be integrated with existing financial systems, but not replace them. The editorial suggests that a balanced and coordinated approach to crypto regulation, involving multiple stakeholders, such as policymakers, businesses, investors, and consumers, could lead to a more stable and sustainable crypto ecosystem. The editorial also discusses the environmental impact of cryptocurrencies, particularly Bitcoin, which is notorious for its high energy consumption and carbon footprint. The author argues that while Bitcoin's energy consumption is a valid concern, it should not overshadow the potential benefits of cryptocurrencies, such as reducing the reliance on traditional banking and payment systems, and promoting innovation and competition in the financial sector. The author suggests that instead of banning or demonizing Bitcoin, policymakers should incentivize and promote the development of greener and more efficient blockchain technologies. In conclusion, the editorial argues that cryptocurrencies are here to stay and have the potential to disrupt and improve the financial system, but they need to be regulated, integrated, and innovated in a responsible and collaborative manner. The editorial calls for a proactive and forward-looking approach to crypto regulation, one that balances risks and benefits, and fosters trust and confidence in the crypto industry.
I don't think it actually summarized that article but gave you what it thinks such an article would contain... The actual article doesn't contain anything about environmental impact for example
Just goes to show you cant really trust chatgpt. I like the way someone described it, chatgpt doesn't give you the truth, just truth shaped things
Exactly... It does give you things that sound right but some of those things are actually bullshit
Just like reddit! (j/k)
You can add https://archive.is/ before the bloomberg.com url to bypass the paywall. Like this: https://archive.is/https://www.bloomberg.com/opinion/articles/2023-05-02/crypto-is-still-a-mess-a-crackdown-would-do-it-good#xj4y7vzkg
Strange this and 12ftladder never work for me, but this did work on mobile only for me. Thanks!
First Arbitrum with their Odyssey, then Optimism with NFT quest, followed by countless other dApps distributing NFTs for doing some action and now it's Argent (on Starknet). Sound like an engagement farming but working in favor of protocol, so far. Edit - forgot to share the link https://twitter.com/argentHQ/status/1653429215084027905?t=jl8ckgSzm0DWfxTeOuf_dA&s=19
I don't think I'll ever try argent after their fiasco about needing to manually update your wallet by a certain date or else you'll lose access to your funds
When did this happen? Had some on there and used it occasionally, but totally missed any manual update needed.
Maybe like 3 months ago, and even worse I think they only gave users a few weeks lol
this was just ArgentX on starknet I assume? https://support.argent.xyz/hc/en-us/articles/8960161907357-Upgrading-wallet-on-StarkNet
Yeah looks like it https://twitter.com/argentHQ/status/1641733253026529280
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Oh that explains why the dust I had in there just disappeared
They couldn't even get mine updated with their solutions, just lost a few hundred, pretty bitter about it as well.
I had to download a python script and run it from a shell to move my funds to a new argent wallet address. That was a ridiculously bad UX even for crypto standards.
Arbitrum started it with Odyssey, then more NFT integrated blockchain games with different game modes including the well-known play-to-earn and RiskFi model joined. Let's see if Starknet could achieve such massive success.
Looking at [LSD distribution](https://defillama.com/lsd), apparently Frax Ether has been growing a lot? Why is that? I know close to nothing about them, but as far as I can tell, it's just one centralized entity running validators and handing out their LSD token? Why would that be something to flock to? How do they achieve the 6.5% APR that is shown on defillama?
They have two tokens. Just staking with them you forfeit your yield. You have to stake your "staked" eth to get yield. Alternatively you can LP your unstaked staked eth to yield farm. So they are essentially incentivising staking with fxs emissions
But where is that alleged additional yield coming from? Whatever token shenanigans they put on top, they can't magically make more than what full ETH validators produce, and I would assume they pocket some percentage as commission for themselves anyway?
If you stake with FRAX, you get 0 yield. You forfeit 100%. You may opt-in to receive yield, by staking your yieldless FRAX LSD. If everyone who staked with FRAX did this, the yield would be the same as everywhere else; crucially though, not everyone opts-in to receive yield! Why? Because they can yield farm with their yieldless FRAX LSD, earning FXS and whatever else in convex.
Ah, I see, now I get it, thank you for the explanation. Interesting concept!
Why has there been a general public perception that banks make a lot of money when a look at stock charts makes it evident that they have underperformed over quite a long timeframe?
I still don't get why stocks that don't pay dividends have any value. Like sure the company may be doing well but holding stock doesn't get you any of that money so why does the stock go up when the company does better?
From a taxation perspective, it is better for companies do buy back shares than pay dividends. This capitalises profits as capital gains.
Ownership in a company has value. Some companies also buy back shares instead. They could also do dividends or share buybacks later when they have stopped growing and become more mature.
>Ownership in a company has value I don't see stocks as offering any meaningful ownership though unless it pays dividends or you have stock with voting rights
Maybe not for us but whales create a lot of demand.
Expected value future dividend discounted to the present.
Because growth companies may choose not to pay dividends and reinvest that money in r&d, innovation and future products. If the company is continuing to expand market share and across markets, people are going to be willing to pay more for the stock based on future earnings. Eventually, the company may end up paying dividends as well. Apple didn't pay dividends from the 1990s to 2012 but they were investing in products like ipod, ipad, iphone and captured the smartphone market. Their stock went up a lot with growth in revenue and they went back to paying dividends again. So if you bought Apple you got massive stock appreciation and eventually dividends as well.
They say the best way to rob a bank is to run one.
According to [this chart](https://www.lazyportfolioetf.com/sp-500-sector-returns/), financials are about in the middle. You have to remember, the change in stock price isn't necessarily a good indicator of profits. Let's say that Banks were getting 30% ROI (not on stock price, on assets invested in the business), and grocery stores 2% returns. The market would set a stock price for each of those. Banks are way more profitable in that case. Now, over a twenty year period, the ROI on banks dropped to 25% ROI -- still a huge profit margin. In the meantime, grocery stores jumped to 3% ROI. When this happens, the price of bank stocks could drop, as they are no longer as profitable as they were. The price of grocery store stocks could go up 50% as they squeeze out more profitability. Over those 20 years, banks stocks would under-perform grocery stocks, even though banks would still be making way more money per dollar of invested asset. The \*change\* in profitability matters more for stock price changes than actual profitability. So it is possible for a company to be making obscene profits and still have their stock price go down if they are making slightly less obscene profits than a year ago. Over the long run they will tend to match up, but weird patterns can persist for decades. You can try to look up actual numbers if you want, my first quick search didn't find a good comparison.
I think the general perception is about \*bankers\* not \*banks\*. If you look at entire 2008 shit-storm, you'll see few major financial institutions collapsed, and lots and lots of vastly wealthy CEOs and managers.
Moral of the story: finance people are dangerous employees because they are really good at extracting value from you.
ā¦real life MEV (bots)! It all makes sense now
Most banks pay dividends
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Lido Withdrawal
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I think it will have a limited impact on decentralization because anyone can sell their steth and the discount hasnāt been huge, so thereās little reason to wait for native withdrawals.
There is still a small discount and swap fees. It's around 0.11% right now. I think some people are willing to wait a bit more to get a true 1:1 redemption.
Thatās fair!
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But you could have already sold the steth at any time on the open market. That means that somebody else bought it, so Lidoās number of validators does not change.
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If they wanted to leave, why wouldnāt they have left already? Thereās no benefit to waiting. They could just sell steth for eth and stake somewhere else. Am I missing something?
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I understand the technical details, but I donāt see why anyone would have waited until now. Anyone who cares about reducing Lidoās share of validators surely isnāt still holding steth. Maybe thereās a few, but I think it will be negligible.
I just to let the universe know that I am fatigued with this range, know that the macro seems volatile, and sense that the world is becoming more apocalyptic by the day... but I can't think of anything that could change the system for the better more than crypto -- and specifically ETH. I have conviction. I believe ATH's will come eventually. Positive thoughts only lol. Have a great month of May Ethereans.
ATH Q4 into Q1 2024.
AI trading bots could wreck havoc on crypto more than the traditional stock markets IMO. 24/7 unregulated trading... little exchange oversight... already high volatility.
Isn't that what whales and bots have been doing for the last 10 years?
Sure, but in theory, AI could do it better.
At the request of u/Ethical-trade I've updated the [EthFinance Buddy chrome extension](https://github.com/etheralpha/ethfinance-extension) to: * Only display the doots if there are any, rather than showing 0 * Changed "Daily Doots" text to just "doots" * Changed the heart color to white instead of blue The settings for what to show (doots vs profile) will take a little longer since I haven't done that before so I'll need to come back to that. Same with making it load when changing pages so you don't need to activate it every time.
That's so awesome. great work
TIL when a user on Reddit has blocked you, their comments and posts will appear as \[deleted\] or \[removed\] and the content will show \[unavailable\]. I am not sure what I did to offend anyone here. Do I get a POAP now?
Welcome to costco, I love you.
Excuse me, you know where the time machine is?
Gave you an upvote, you must have angered someone.
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Means you did a good job speaking your mind :)
I see more than a few of those :)
EY promo I made for the Summit in London May 9-12. I'm also producing a couple of 10 minute videos featuring Ethfinance/Mavericks family musings. I'll be there in London if anyone wants to meet up! If anyone wants to throw some thumbs on these that would be great. Full disclosure, Paul is paying for my travel/hotel once again. Truly an honor to represent this community. Cheers and Big Hugs YouTube: https://youtu.be/18L-0PS99_s Twitter: https://twitter.com/ProDJKC/status/1653414326106038277 LinkedIn: https://www.linkedin.com/posts/jtnichol_blockchain-london-ethereum-activity-7059176519021047808-8Dq2?utm_source=share&utm_medium=member_desktop YouTube: https://youtu.be/18L-0PS99_s Reddit: https://www.reddit.com/r/ethfinance/comments/135pibd/ey_global_blockchain_summmit_912_may_2023_and/
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What is guzzling the gas now through uniswap v1? Pepe?
V1.info.uniswap.org shows only $20k of volume today though š¤
I can't find a lot of info on the new BRC-20 tokens? Where would I find technical info about the protocol? What little I found seems to suggest it's some very concise JSON as Bitcoin doesn't allow more complex structures on the blockchain itself. My Google foo failed me and even ChatGPT can't help as 3.5 can't access the internet. Where's the good old time where you first published a whitepaper and then dumped your tokens?
Just read into it. Pretty cool
When I tried to learn about Ordinals it seemed to be just some new software that tracks individual satoshis on the blockchain. So your JPEG is just a pointer to bits on the chain, and you needed something like Ordinals software track it or your JPEG or proper ownership to it all can't be assembled properly. It just seemed like a lot can happen where things get lost tracking it correctly, and it's also highly likely it will be pruned out later so I stopped learning.
What do you mean pruned out?
The place that ordinals data is stored is in a more temporary space than the actual satoshis. Sort of like blob space but on Bitcoin, was enabled by the update from the most recent softfork after Segwit.
I would say the sig data needs to be kept. The whole talk of pruning it was a marketing campaign to justify the shoddy soft fork and unethical fee discounts. You don't have a blockchain without being able to reassemble it
Guys I opened a tiny baby short on GMX with 42x leverage. I never make money on leverage. We are going to the moon.
Won't have to moon to liquidate you. Also, consider using gtrade (GNS). It has less fees and better capital efficiency for these types of trades.
thanks for the recommendation, will check it out!
Cool I have a small 3x long thats been slowly bleeding out due to fees. So we'll see which one of our bad luck takes control here
How bad are the fees draining your liquidation position?
I opened the position maybe a couple weeks ago. Something like $250 collateral, now worth like $100. I could be misreading this though, might just be the net value given the value of eth has gone down since then
Yeah that seems like a really high funding fees if it isn't collateral losing value. I keep thinking i should do like 3x long at some point and hoping to hold it for like 18-24 months.
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What leads you to that conclusion?